Natural Gas News – March 9, 2018
Natural Gas News – March 9, 2018
U.S. Natural Gas Exporters Predict New Boom, Thanks to Surge in Demand from China
CNBC reported: A cold winter in China could be signaling a hotter market for a new wave of U.S. natural gas exports sooner than expected. Cheniere Energy CEO Jack Fusco said Chinese demand for liquefied natural gas was up 40 percent year-over-year and should continue to be strong. He said the growth in demand is about the size of Cheniere. Since Cheniere’s first LNG shipment went to Brazil two years ago, there’s an even split between destinations in Latin America and Asia, and then the rest of the world. But every spare drop went to China recently, Fusco told the CERAWeek annual energy conference hosted by IHS Markit in Houston this week. For more on this story visit cnbc.com or click http://cnb.cx/2tumW2i
Natural Gas Price Flat After Lower-Than-Expected Inventory Decline
24/7 Wall St reported: The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 57 billion cubic feet for the week ending March 2. Analysts were expecting a storage withdrawal between 54 billion and 68 billion cubic feet. The five-year average for the week is a withdrawal of 129 billion cubic feet, and last year’s storage decrease for the week totaled 68 billion cubic feet. Natural gas inventories fell by 78 billion cubic feet in the week ending February 16. Natural gas futures for April delivery traded down about 0.7% in advance of the EIA’s report, at around $2.75 per million BTUs, and it remained essentially unchanged shortly after the report was released. The forecast for overall natural gas demand next week has moved to the “high” range as cold weather is forecast for the heavily populated east until the weekend, with more to follow next week. For more visit 247wallst.com or click http://bit.ly/2Fv4yIr
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