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NATURAL GAS NEWS
Latest Global and Natural Gas News
EUROPE GAS-Prices edge higher as cooler temperatures lift demand
21 April 2023
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"LONDON, April 21 (Reuters) - British and Dutch wholesale gas priced edged higher on Friday morning as cooler temperatures lifted demand for heating.
The British day-ahead TRGBNBPD1 gas price rose by 2 pence to 98 pence per therm by 0855 GMT, Refinitiv Eikon data showed.
The British weekend price TRGBNBPWE was up 1.5p at 96.50 p/therm.
“The latest (temperature model) forecasts a total increase of 20 million cubic metres/day in demand on day-ahead with the onset of the cold spell which is expected to continue into the middle of next week,” Refinitiv analyst Tim Crump said in a daily research note."
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Source: Nasdaq | Link: Click Here
Recent News, Press Releases and Reports
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EUROPE GAS-Prices edge higher as cooler temperatures lift demand
21 April 2023​​
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Why U.S. Gas Production Is Growing So Fast
20 April 2023​
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Natural gas price forecast 2030-2050: What next for gas prices?
28 March 2023​​
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Gas Market Prices
Why U.S. Gas Production Is Growing So Fast
20 April 2023
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"U.S. natural gas production is booming. The country is pumping so much of the commodity that prices have dropped to multi-year lows after last year, soaring to over $7 per mmBtu amid the European energy crunch.
Now, U.S. benchmark gas is trading around $2 per mmBtu and likely to remain at this level for the observable future. Because of associated gas.
Just four shale basins in the United States are currently producing some 36 billion cubic feet of associated gas daily. Those are the Permian, the Eagle Ford, the Niobrara, and the Bakken. And the reason they are producing so much is that oil production is also on the rise. Because of higher prices.
"About a third of U.S. gas production is associated gas - produced from oil wells," Jacques Rousseau, a managing director at research firm ClearView Energy Partners, told Reuters earlier this month. "This production is unlikely to decline given current oil prices."
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Source: OilPrice.com | Link: Click Here
North American Natural Gas Markets Well Supplied with Production on Both Sides of Border – Mexico Spotlight
20 April 2023
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"North American natural gas prices rallied slightly on colder April weather this week but still stayed close to $2.000/MMBtu. On Thursday, the May New York Mercantile Exchange gas futures contract managed a 2.7-cent gain and closed at $2.249.
“While a cooler than normal U.S. pattern is expected for late April into the start of May, we believe the nat gas markets would prefer to see hotter patterns over cooler patterns to suggest an impressively hot summer is on track to arrive early,” analysts at NatGasWeather said.
Mexico is in shoulder season mode as it builds to its high-demand summer months. Pipeline imports in Mexico from the United States over the past 10 days averaged 5.11 Bcf/d through Thursday, according to NGI calculations. Intrastate trades, which are not public, were not included in the tally."
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Source: Natural Gas Intel | Link: Click Here
Natural gas price forecast 2030-2050: What next for gas prices?
28 March 2023
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"Despite Russian gas supply restrictions, Europe avoided major gas shortages during the past winter. Milder weather – apart a cold snap in December – energy-saving campaigns, and robust liquefied natural gas (LNG) imports kept the region’s reserves from depleting. February 2023 saw European natural gas prices fall to an 18-month low.
However, European gas prices saw a surge in March amid ongoing protests in France leading to supply concerns and forecasts of low temperatures."
Source: Capital.com | Link: Click Here