Natural Gas News – December 6, 2022
Natural Gas News – December 6, 2022
How Europe’s energy crisis changes the LNG market
Massive supply disruption in Europe and soaring global prices. No other commodity has faced the extreme challenges of global gas since Russia’s invasion of Ukraine. I caught up with Kateryna Filippenko, Director, Global Gas Research, to find out her team’s latest views on the market. How does this winter in Europe look? Better than we could have hoped for a few months ago in some respects, but it’s been at a severe cost. Extremely high prices throughout the year have stretched affordability for consumers and weakened the economy. High prices have hit demand hard (down 22% for non-power sectors year-on-year July to October) and pulled in LNG supplies destined for Asia. This rebalancing, combined with warm weather in recent weeks, has kept storage 93% full – well up on the 80% ‘normal’ for early December. Cold weather… For more info go to https://bit.ly/3EYHTnG
U.S. LNG Is Booming, But Who Supplies The Gas?
This year, the United States became the world’s biggest liquefied natural gas (LNG) exporter as deliveries to energy-starved buyers in Europe and Asia surged. In the current year, five developers have signed over 20 long-term deals to supply more than 30 million metric tons/year of LNG to energy-starved buyers in Europe and Asia. As energy analysts, RBN Energy notes, the first wave of LNG export expansion has mostly gone smoothly thanks to fast-rising natural gas supplies in the Lower 48 and a slew of pipeline reversals and expansions that allowed low-cost Marcellus-Utica gas supplies to reach Gulf Coast markets. But with LNG demand already high and set to grow at a frenetic pace, the big question becomes how quickly can the United States ramp up production to meet future demand? There’s… For more info go to https://bit.ly/3Bd23cq
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