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Natural Gas Futures Give Back Gains as Wind Gen Said Returning to Drive Up Injection Rate

Natural Gas Futures Give Back Gains as Wind Gen Said Returning to Drive Up Injection Rate

As the natural gas market continued to mull the implications of a lower-than-expected weekly storage build, one that appeared to derive from a temporary drop in renewable generation, futures prices retreated in early trading Friday. After rallying 9.7 cents in the previous session, the November Nymex contract was down 10.4 cents to $5.583/MMBtu at around…

October 15, 2021
Natural Gas Forwards Retreat on Shrinking U.S. Storage Deficit; Global Market Raises Stakes

Natural Gas Forwards Retreat on Shrinking U.S. Storage Deficit; Global Market Raises Stakes

A narrowing Lower 48 storage deficit saw natural gas forwards ease lower during the Oct. 7-13 trading period, even as global supply anxieties continued to ripple through the domestic market. Front-month forwards at benchmark Henry Hub closed out the trading period 8.7 cents lower week/week amid continued volatility in the market ahead of winter. The…

October 14, 2021
Europe’s Gate LNG Terminal Adding Import Capacity to Meet Growing Demand

Europe’s Gate LNG Terminal Adding Import Capacity to Meet Growing Demand

The Gate liquefied natural gas (LNG) import terminal in the Netherlands plans to add another 1 billion cubic meters (Bcm) of annual regasification capacity to serve growing demand.  The expansion would boost overall capacity at the facility to 13.5 Bcm annually, or roughly 477 Bcf/year, along with recently announced expansions. The additional send-out capacity is…

October 14, 2021

Biden Administration Says U.S. LNG Needed Across World — The Offtake

A roundup of news and commentary from NGI’s LNG Insight U.S. natural gas exports are needed across the world as buyers face shortages, the Biden administration said. “There’s a natural gas shortage around the world, hence the need for the United States to continue to export natural gas,” said White House Press Secretary Jen Psaki…

October 14, 2021

Cove Point LNG Maintenance Ends, Sending U.S. Feed Gas Volumes Higher — The Offtake

A roundup of news and commentary from NGI’s LNG Insight Annual maintenance at the Cove Point LNG terminal in Maryland has concluded after 21 days. Feed gas flows to the terminal returned to their pre-work levels Tuesday. Overall, U.S. feed gas deliveries were nominated at 11.2 Bcf early Wednesday, up by roughly 1 Bcf from…

October 13, 2021
OPEC Downgrades Oil Demand Expectations for 2021, but Consumption Holds Strong

OPEC Downgrades Oil Demand Expectations for 2021, but Consumption Holds Strong

While strong, consumption of oil proved uneven through the first nine months of 2021, interrupted by outbreaks of the coronavirus Delta variant. This led the world’s largest cartel of crude producers to downgrade its demand outlook for the full year. The Organization of the Petroleum Exporting Countries (OPEC), however, said Wednesday that lofty natural gas…

October 13, 2021
Global Natural Gas Markets Facing ‘Significant Uncertainty’ Heading Into Winter

Global Natural Gas Markets Facing ‘Significant Uncertainty’ Heading Into Winter

Moving the energy economy to net zero emissions is timely and costly, and the world now faces another dilemma: a natural gas market under “tremendous pressure” ahead of winter, the International Energy Agency (IEA) said Wednesday. In launching its annual World Energy Outlook (WEO-2021), the global energy watchdog acknowledged that winter 2021/2022 is opening with…

October 13, 2021
EIA Predicts Big Increases in Winter Heating Costs as Prices Rise for Natural Gas, Other Fuels

EIA Predicts Big Increases in Winter Heating Costs as Prices Rise for Natural Gas, Other Fuels

American households can expect significant increases in home heating costs this winter, including a 30% increase in natural gas expenditures versus last winter, the U.S. Energy Information Administration (EIA) said Wednesday. The agency said as part of its latest Short-Term Energy Outlook (STEO) that it expects a 3% increase in average U.S. heating degree days…

October 13, 2021
ICE Reports Record Volume in September on European Natural Gas Trades

ICE Reports Record Volume in September on European Natural Gas Trades

Intercontinental Exchange Inc. (ICE) is logging more record trading activity on its European natural gas futures contracts amid increasing volatility in the global market. An unprecedented 5.5 million Dutch Title Transfer Facility (TTF) futures and options were traded in September, 37% higher than the previous monthly record set in January, ICE said. The exchange also…

October 13, 2021
Mild Temps to ‘Gradually Increase Headwinds’ for NatGas Prices as Futures Called Near Even

Mild Temps to ‘Gradually Increase Headwinds’ for NatGas Prices as Futures Called Near Even

Natural gas futures hovered close to even early Wednesday as forecasts showing sustained mild temperatures put downward pressure on prices. The November Nymex contract was off 1.5 cents to $5.490/MMBtu at around 8:45 a.m. ET. Updated forecasts early Wednesday continued to look bearish even with “some minor gains” in expected demand that would periodically bring…

October 13, 2021