Daily GPI

With drought conditions set to continue in the coming months – and likely intensify in some areas – more than half of the United States and portions of Canada could struggle to meet electricity demand this summer in the event of extreme heat, according to the North American Electric Reliability Corp. (NERC). The Midcontinent faces…

Natural gas futures gave up ground Friday as buyers moved to the sidelines after a furious rally earlier in the week. The June Nymex gas futures contract declined 22.5 cents day/day and settled at $8.083/MMBtu. Still, it gained 5.5% for the week. July shed 22.2 cents on Friday to $8.178. At A Glance: Futures tumble…

Driven in part by liquefied natural gas (LNG) exports, demand growth will outpace supply gains this summer, leading to higher prices year/year, FERC said in its 2022 outlook on summer energy markets. Compared with summer 2021 levels, total domestic dry natural gas production is expected to increase 3.4% this summer, while total consumption is projected…

The U.S. natural gas rig count climbed one unit to 150 for the week ended Friday (May 20), while Texas led a surge in oil drilling that lifted the combined U.S. tally 14 units higher to 728, according to the latest figures from Baker Hughes Co. (BKR). Alongside the one natural gas-directed rig, 13 oil-directed…

Finland’s state-owned energy company Gasum said Friday that Russia would soon cut off the country’s main source of natural gas supplies, forcing it to find alternatives. Russia’s Gazprom PJSC informed the company that it would stop delivering natural gas supplies to Finland beginning Saturday (May 21). Gazprom said it was halting exports to the country…

HOUSTON (ICIS) — Asian LNG spot prices have fallen this week, with the July ICIS East Asia Index (EAX) down more than 12% on 19 May from one week ago. The softness in prices, compared with levels seen just a month ago, could attract additional buyers into the market. New demand will be weather dependent…

Natural gas forwards rallied throughout the trading period ending May 18 as early-season heating demand, rising exports and production declines stoked supply concerns. June fixed prices jumped an average 64.0 cents, as did the balance of summer (June-October), according to NGI’s Forward Look. The winter 2022-2023 package (November-March) bounced an impressive 58.0 cents on average…

A consortium of oil and natural gas firms is moving forward with plans to develop a greenfield 2.5 Bcf/d intrastate natural gas pipeline from the Permian Basin in West Texas to the Katy area, near Houston. The project still needs state approvals. Sanctioning of the Matterhorn Express Pipeline was announced Thursday by partners WhiteWater Midstream…

A newly installed natural gas-powered fuel cell at Atmos Energy Corp.’s corporate data center generates low-emission, grid-independent electricity, and the Dallas-based utility is finding more ways to curb emissions as its multistate customer base grows. “Natural gas once again proves it plays a pivotal role in lowering greenhouse gas emissions while increasing reliability to our…