Nat Gas News – May 2, 2017

Nat Gas News – May 2, 2017

In the News

Selling US Natural Gas Abroad Could Create 136,000 Jobs

The Daily Caller reports: Selling Texas’ liquefied natural gas (LNG) to other countries will create more than 136,000 jobs nationwide and generate $145 billion in economic activity, accordi n g t o a n ew r e p o r t p u b l i s h e d Mo n d a y . “We have the opportunity to create more than 136,000 jobs nationwide and generate more than $20 billion in new state tax revenue with these facilities,” Steve Everley, a spokesman for North Texas for Natural Gas, told The Daily Caller News Foundation. “LNG exports truly are a win-win-win for Texas, the United States and our allies around the world. If we want to make America great again, we need to encourage LNG exports from Texas.” Exporting natural gas is likely to be a growth industry, as global demand for natural gas is expected to be 50 percent higher by 2035 than it is now, according to the International Energy Agency. Demand for imports of LNG increased 27 percent in the United Kingdom last year alone. For more on this story visit http://bit.ly/2qqKArd

U.S. natgas futures slip on revised output, low demand next week

Hellenic Shipping News reports: U.S. natural gas futures dipped on Monday after analysts revised their production outlook higher and as forecasts for decreased demand next week offset expectations for greater heating usage this week. Despite the decline, the contract remained up about 29 percent over an eight month low in February on the possibility prices could spike later this year if stagnant production and rising exports leave inventories unusually low before next winter. U.S. production, which was revised higher after the release of federal production data showing the biggest monthly increase in nearly three year in February, was still at its lowest since 2014. For more about this story visit hellenicshippingnews.com