U.S. natural gas demand and prices are “off to the races,” driven by a convergence of supply and demand-related factors as the world emerges from Covid-19, IHS Markit’s Jack Weixel, senior director, said Monday. Liquefied natural gas (LNG) exports to the global market, pipeline exports to Mexico, and capital discipline by upstream producers all have…
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U.S. Coal Generation Gains Ground from Uri and Higher Natural Gas Prices, Says IEA
The world’s thirst for electricity this year has led to an uptick in coal consumption and cut into U.S. natural gas consumption, according to the International Energy Agency (IEA). The global energy watchdog on Thursday said the world is getting back to business following the depths of the pandemic, with energy demand rising quickly. Coal…
Historic Heat Wave, Tight Balances Drive Steep Gains for Natural Gas Forward Prices as Core of Summer Still Ahead
Fueled by unrelenting heat across Pacific Northwest, Western Canada and the East Coast, natural gas forwards surged in the trading period ending June 30, according to NGI’s Forward Look. August prices shot up an average 19.0 cents over the six-day period, led by an astounding C28.0-cent climb at NOVA/AECO C. The stout gains continued throughout…
U.S. LNG Output Sailing for Record Despite Rising Supply Costs
The cost of supplying U.S. liquefied natural gas (LNG) to Asia has spiked this year, but with a shortage of natural gas to meet widespread demand across the world, that is likely to have little impact on output that is expected to reach record highs. An analysis by Rystad Energy found that the short-run marginal…
Oil Patch Lifts U.S. Rig Count Once Again as Natural Gas Activity Eases Lower
More rigs flocked to the oil patch during the week ended Friday (June 11), offsetting a small decrease in natural gas-directed drilling to lift the combined U.S. count five units to 461, according to the latest data published by Baker Hughes Co. (BKR). Oil-directed drilling increased by six units in the United States for the…
Sempra’s Energia Costa Azul LNG Said ‘Prime Opportunity’ for Rockies Gas Producers
Energy producers and advocates in the Rockies region are looking south of the border for Pacific Coast market options as the outlook for a Western U.S. export facility appears increasingly unlikely. With development of the Jordan Cove liquefied natural gas (LNG) project in Oregon on pause following regulatory setbacks, the Sempra Energy-led Energia Costa Azul…
June Natural Gas Futures Inch Higher Ahead of Storage Report; Colonial Restarting Following Cyberattack
Natural gas futures advanced for a second straight day on Wednesday as production dipped and all indications pointed to continued strong demand for U.S. liquefied natural gas (LNG). The June Nymex contract settled at $2.969/MMBtu, up 1.4 cents day/day. July rose 1.9 cents to $3.018. NGI’s Spot Gas National Avg., however, declined 2.0 cents to…
U.S. to Work Toward Net-Zero Future with Fellow Oil, Natural Gas Producing Nations
The United States is teaming up with Canada, Norway, Qatar and Saudi Arabia to target net-zero greenhouse gas (GHG) emissions from the five countries, all of which are major oil and gas producers. The countries, which together account for about 40% of global oil and gas production, jointly said on Friday they are establishing a…
Vital Role Seen for Natural Gas as Biden Doubles U.S. Climate Commitments
Energy stakeholders endorsed President Biden’s strengthening of U.S. climate change commitments on Thursday, but they also stressed the importance of natural gas in achieving deep decarbonization of the economy. Biden said Thursday the United States will target a 50-52% reduction in economy-wide greenhouse gas (GHG) pollution by 2030 versus 2005 levels. The announcement, made during…
U.S. LNG Exports Hit Record High in March, with Strength Expected to Persist Through Summer
U.S. liquefied natural gas (LNG) exports hit a record high in March of 6.64 million tons (Mt), according to market research firm Kpler, capping a volatile winter in which brutally cold weather across the northern hemisphere both increased demand and disrupted operations. Kpler said U.S. exports in March finished 2.26 Mt higher than February, when…