Summer

Natural Gas Forwards Tumble as Freeport LNG Outage Loosens Summer Balances

Natural Gas Forwards Tumble as Freeport LNG Outage Loosens Summer Balances

As summer heat failed to provide the spark needed to sustain higher prices, lost demand from the Freeport liquefied natural gas (LNG) terminal outage continued to erode value in the natural gas forwards market during the June 16-22 trading period. According to NGI’s Forward Look data, benchmark Henry Hub fell 56.2 cents week/week to average…

June 24, 2022
Henry Hub to Average $8.69 in 3Q2022 Amid Strong Demand, Lagging Storage, EIA Predicts

Henry Hub to Average $8.69 in 3Q2022 Amid Strong Demand, Lagging Storage, EIA Predicts

As lagging storage inventories and robust demand pressure prices higher, Henry Hub natural gas spot prices will average $8.69/MMBtu in the third quarter, updated Energy Information Administration (EIA) projections show. Amid rising domestic production by next year, the national benchmark price should retreat to $4.74 in 2023, the agency said in the June edition of…

June 7, 2022
ERCOT Forecasting Record Summer Power Demand in Texas, but ‘Confident’ of Capacity

ERCOT Forecasting Record Summer Power Demand in Texas, but ‘Confident’ of Capacity

The electric grid operator for most of Texas expects to have sufficient resources in place to meet what it expects to be record power demand this summer. The Electric Reliability Council of Texas (ERCOT) said summer loads would likely reach 77,317 MW, which would be a new system-wide peak demand record for the region. The…

May 18, 2022
Natural Gas Output Up, but ‘Tight Balance’ Predicted for Summer as Demand Climbs, Storage Lags

Natural Gas Output Up, but ‘Tight Balance’ Predicted for Summer as Demand Climbs, Storage Lags

Strong demand from the industrial sector and the “ripple effect” of Europe’s energy crisis will be among the key factors putting upward pressure on natural gas prices this summer, according to projections from the Natural Gas Supply Association (NGSA). In its 2022 Summer Outlook, published Wednesday, the trade group predicted downward pressure from weather and…

May 11, 2022
California Looks to Shore Up Power Supply, Possibly with Natural Gas, to Prevent Summer Outages

California Looks to Shore Up Power Supply, Possibly with Natural Gas, to Prevent Summer Outages

The California Public Utilities Commission (CPUC) on Thursday approved a series of actions to reduce the risk of power outages during extreme heat events, including possible increased natural gas-fired generation from existing plants. Following prolonged heat waves across the western United States in 2020 and 2021, the measures aim to reduce energy demand and increase…

December 4, 2021
Natural Gas Bulls to Extend Parade Through Summer, Support $3.00 Prices, Analysts Say

Natural Gas Bulls to Extend Parade Through Summer, Support $3.00 Prices, Analysts Say

Robust needs for U.S. exports across Asia, Europe and Mexico – coupled with expectations for another sizzling summer domestically – could keep supply/demand balances tight and upward price pressure firmly in place this summer, industry experts said. The upbeat outlook developed across an LDC Gas Forums Southeast conference panel moderated Tuesday by NGI’s James Alston,…

June 9, 2021
PJM Forecasting Adequate Summer Power Supply as Other U.S. Grids More Stressed

PJM Forecasting Adequate Summer Power Supply as Other U.S. Grids More Stressed

PJM Interconnection, the largest U.S. power grid operator, is forecasting adequate supply to meet the electricity needs of its 65 million customers this summer. PJM, which serves 13 states and the District of Columbia, expects peak demand of about 149,000 MW this summer, but it has performed reliability studies at loads in excess of 155,000…

May 20, 2021
California Heat Drives Big Gains for Natural Gas Forward Prices; Exports Fueling Upside Risk for Futures

California Heat Drives Big Gains for Natural Gas Forward Prices; Exports Fueling Upside Risk for Futures

Though widespread summer heat keeps getting kicked down the road, natural gas forward prices strengthened for the trading period ending May 12 as export demand led markets higher. June forwards rose an average 4.0 cents, with similar gains seen through next winter (November 2021-March 2022), according to NGI’s Forward Look. Larger increases were seen in…

May 14, 2021
Pricier Natural Gas to Generate Less U.S. Power This Summer, EIA Says

Pricier Natural Gas to Generate Less U.S. Power This Summer, EIA Says

Coinciding with higher natural gas prices, the share of U.S. electricity generation powered by gas is set to decline this summer compared to last, the Energy Information Administration (EIA) said in research published this week. In its Summer Electricity Outlook, released as a supplement to the May Short-Term Energy Outlook, EIA said it expects natural…

May 12, 2021
Export Demand Driving Summer Optimism, but Storage Concerns Starting to Simmer

Export Demand Driving Summer Optimism, but Storage Concerns Starting to Simmer

Riding the momentum from rallying futures prices as the natural gas market begins to look optimistically toward summer, forwards firmed by the double digits throughout much of the Lower 48 during the April 22-28 trading week, NGI Forward Look data show. With continued strength in export volumes — via liquefied natural gas (LNG) and pipeline…

April 30, 2021
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