Natural Gas News – March 26, 2019
Natural Gas News – March 26, 2019
EIA: Power Sector Pushed Domestic U.S. Natural Gas Consumption To New Record In 2018
World Oil reported: U.S. natural gas consumption increased by 10% in 2018, reaching a record high of 82.1 Bcfd, according to EIA’s recently released Natural Gas Monthly. Domestic consumption of natural gas increased across all sectors in 2018, led by a 3.8 Bcfd increase in the electric power sector caused by a combination of recent natural gas-fired electric capacity additions and weather-related factors. The electric power sector consumed 29.1 Bcfd in 2018, or 35% of total domestic U.S. natural gas consumption. Natural gas continued to make up the highest share of utility-scale electricity generation after first surpassing coal-fired generation on an annual basis in 2016. Specifically, natural gas accounted for one-third (35%) of utility-scale electricity generation in 2018, followed by coal (27%), nuclear (19%), and hydropower (7%).
Iran In Talks To Raise Natural Gas Sales To Turkey
S&P Global reported: Iran is in talks to raise gas sales to its neighbor Turkey, state news agency IRNA reported, citing Hassan Montazer-Torbati, deputy oil minister for gas affairs. “Recently, demands have been brought up from this country [Turkey] to increase the gas exports. The related talks are going on,” he said, according to the IRNA report on Monday. Iran currently has a contract to export 10 billion cubic meters of natural gas/year to Turkey, an amount that was achieved in the past year, he said. Separately, Iran’s gas sales to Iraq have reached 25-35 million cu.m/d, with all shipments to Basra and Baghdad, IRNA reported, citing Montazer Torbati, managing director of National Iranian Gas Company. Giving an update on gas for electricity barter with Armenia, he said Iran is selling it 1 million cu.m/d. Iran also has a gas swap with Azerbaijan with a capacity of 1 million cu.m/d, he said.
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
