Natural Gas News – May 9, 2018
Natural Gas News – May 9, 2018
U.S. Natural Gas Production Only Goes Up: STEO
Kallanish Energy reported: U.S. dry natural gas production averaged 73.6 billion cubic feet per day (Bcf/d) in 2017, and will average 80.5 Bcf/ d in 2018, and 83.3 Bcf/d in 2019 – both record volumes – according to the U.S. Energy Information Administration’s justreleased Short-Term Energy Outlook (STEO). Growing U.S. natural gas production is expected to support increasing natural gas exports in the STEO, Kallanish Energy reports. EIA forecasts net natural gas exports to increase a whopping 500%, from 0.4 Bcf/d in 2017, to an annual average of 2.0 Bcf/d in 2018, then more than double in 2019, to reach 4.6 Bcf/d. EIA estimates natural gas inventories increased by 22 Bcf in April, ending the month 27% below the five-year average for the month. If confirmed in the monthly data, the April 2018 injection would be the smallest April injection in 35 years. “Preliminary data indicate April temperatures were the coldest for that month in the past 21 years, which contributed to low injections,” STEO reported. For more on this story visit kallanishenergy.com or click https://bit.ly/2HZjIe2
South Korean Kogas’ Apr LNG Sales Mark Biggest Increase in 17 Months
Platts reported: South Korean state-owned Korea Gas Corp’s LNG sales jumped 28.6% year on year in April, driven by stronger demand for power generation, the company Wednesday said. The 28.6% rise was the biggest increase since November 2016, when its sales jumped 32.5% from a year earlier. Kogas, which has a monopoly on domestic natural gas sales, sold 2.742 million mt in April, compared with 2.132 million mt a year ago, the utility said in a statement. It marked the fifth consecutive month of increase in the company’s LNG sales since December. However, the April sales were down 21.1% from the 3.477 million mt of LNG it had sold in March. LNG sales to retail gas companies for households and businesses rose 6.3% year on year to 1.392 million mt in April, while LNG sales to power generators surged 64% year on year to 1.35 million mt last month, Kogas said. For more on this story visit platts.com or click https://bit.ly/2K2TwM4
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