Nat Gas News – August 30, 2017
Nat Gas News – August 30, 2017
Natural Gas Demand Impacted By Harvey But Not As Bad As Forecasted
Seeking Alpha reports: Natural gas prices took a hit last Friday as traders though the impact on demand from Hurricane Harvey would have been material, while the loss of supplies would have been less. Fast forwarding to today, the impact on demand was less than we thought, while the impact on supplies were higher than we expected. Expectations were for a much looser balance, but the demand drop from power burn was offset in part by higher than expected LNG exports. In addition, the supply drop was much more severe than we expected on Friday. Lower 48 production fell almost ~2 Bcf/d since Thursday. For more visit seekingalpha.com or click http://bit.ly/2iF1qmb
Harvey’s Descendants Will Trouble Global Energy
Bloomberg reports: One of the results of the shale-derived boom in U.S. oil and gas production, coupled with a broad leveling-off in domestic energy consumption, is the country’s re-emergence as a source of energy exports. Longer-term, the more dramatic impact of the Gulf’s importance to the global energy trade will be felt in natural gas. The shale boom has overwhelmed domestic demand, and the U.S. will soon emerge as a leading source of exports of liquefied natural gas. Nine-tenths of that U.S. export capacity is sited, or will be, on the Gulf coast. Thus far, the natural-gas market’s subdued reaction to Hurricane Harvey suggests the impact of extreme weather on regional demand for the fuel outweighs any disruption to supply. The unfortunate corollary of America’s resurgent role in the energy trade will be the transmission of hurricane season’s risks to the rest of the world. For more on this story on this story visit bloomberg.com or click https://bloom.bg/2wHePzM
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