Natural Gas News – December 2, 2022
Natural Gas News – December 2, 2022
U.S. NatGas Futures Rise On Forecasts For Cooler December Weather
U.S. natural gas futures edged up about 1% to near a one-week high on Tuesday on forecasts for cooler weather through mid-December than previously expected. That price increase, however, was limited by forecasts for less gas demand over the next two weeks than previously expected. In addition to colder weather, which will boost the amount of gas burned to heat homes and businesses, energy traders noted gas demand would also rise in December if Freeport LNG’s liquefied natural gas (LNG) export plant in Texas returns to service, as expected. Freeport LNG has said it plans to start producing LNG again in mid-December and reach full capacity of about 2.1 billion cubic feet per day (bcfd) in March. The plant was shut on June 8 due to an explosion caused by inadequate operating and testing procedures, human error and… For more info go to https://yhoo.it/3gSf700
Natural Gas Starts Flowing Through New Baltic Pipe
The pipeline–a joint project between Danish Energinet and Polish gas transmission system operator GAZ-SYSTEM– is now fully operational with a capacity of 350 billion cubic feet (10 billion cubic meters) per year, adding another layer of energy security to Europe to counteract Russia’s weaponization of gas. “It’s a huge day for us in Europe. After a very intense process, we have reached the target and can open the valves on Baltic Pipe,” Torben Brabo, Director of International Relations for Energinet, said in a press release. “The war in Ukraine and the resulting energy crisis have – unfortunately – underlined the importance of this project. By constructing the new gas pipeline, we are helping to fulfill Poland’s wish to become independent of Russian gas. Baltic Pipe also helps Poland… For more info go to https://bit.ly/3B08yPS
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