Natural Gas News – September 16, 2021
Natural Gas News – September 16, 2021
Europe’s Gas Extends Record Rally on Russian Supply Woes, Wind
Natural gas prices in Europe continued their record-breaking run as uncertainties about supply security this winter worsen. Power prices also surged to a new high amid after a disruption on a power link with France. Uncertainties over Russia’s ability to supply the region when it also risks a domestic gas crunch are increasing among traders just as temperatures below normal are forecast for the next two weeks there. Storm Nicholas led to the shutdown of Freeport LNG plant, although a tanker has left the export facility in Texas on Wednesday, cushioning concerns over exports of the super-chilled fuel. U.K. Energy Crisis Deepens as Fire Knocks Out Key Cable “The market is super tight so not much needed to move the needle and blow up the market,” Oystein Kalleklev, chief executive officer of shipowner Flex LNG said. … For more info go to https://bloom.bg/3lwNmbG
Shale gas stocks chase natural gas futures prices higher, as LNG drives demand
Shares in most pure-play shale gas producers posted double-digit gains in value over the past month, alongside the one-third increase in the October futures price for natural gas, according to Sept. 14 data from S&P Global Market Intelligence. “The biggest news on the day
surrounded the energy markets, as natural gas prices rose 6% on the day [Sept. 13] racing past $5 up to $5.23/MMBtu to close the day,”
Raymond James & Associates oil and gas analysts said. “The European gas market is in a particularly difficult situation as low output from wind generation has forced natural gas generation to ‘fill the gap,'” increasing the need for U.S. LNG at a time when U.S. onshore production is flat and hurricanes have cut into the Gulf of Mexico’s natural gas output. Future contracts for the coming w… For more info go to https://bit.ly/3khIGqO
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