Natural Gas News – December 22, 2022

Natural Gas News – December 22, 2022

UPDATE 1-U.S. natgas holds near 8-week low

U.S. natural gas futures held near a eight-week low on Wednesday as the market balanced extreme cold in the short term that has already cut output by freezing oil and gas wells and boosted heating demand against milder long-term forecasts that will cut heating demand. The weather is frigid now across much of the country, but if the current forecasts are right and the weather turns warmer-than-normal in late December and early January, utilities will be able to leave more gas in storage around the start of the new year. Gas stockpiles are currently about 0.4% below the five-year (2017-2021) average for this time of year. U.S. gas futures remained on track for their most volatile year ever. Both implied and historic volatility were expected to hit record highs in 2022 as soaring global gas prices fed demand or U.S.… For more info go to https://yhoo.it/3YMseB8

U.S., Canada natgas output could hit growing pains

U.S. and Canadian natural gas production is expected to hit new records in 2023, but growth may be slow due to weakened demand, pipeline bottlenecks and a lack of new liquefied natural gas (LNG) export plants. Gas demand surged worldwide after Russia cut off Europe’s primary supply, and the United States and Canada are expected to feed copious demand for exports in coming years, bolstered by high prices. The two countries produced a record combined 116 billion cubic feet per day (bcfd) in 2022. The United States has become one of Europe’s most important sources of gas, providing essential energy security after Moscow’s invasion of Ukraine. Next year’s growth could be slower than recent years. Major production fields in both countries are inhibited by a lack of pipelines to move gas to key… For more info go to https://yhoo.it/3GcGCuX

As LNG exports soar, a Florida community fights

Dannie Bolden strolls down a wide thoroughfare and points to places that are no longer there: barber shops, grocery stores, a live-music lounge. Laundromats, restaurants, a small hotel. Decades ago, the former main street in North Port St. Joe bustled with dozens of Black-owned businesses. The few that remain today are surrounded by vacant concrete-slab foundations and boarded-up buildings. “This was a thriving district,” Bolden, 68, recalls on a breezy December morning in this beachfront town on Florida’s panhandle. In recent years, Bolden and his neighbors have drawn up detailed plans to revitalize the historically Black neighborhood located in the northern part of the town of Port St. Joe. They want to add retail shops and affordable apartment units along this now-quiet boulevard. They also envision building a… For more info go to https://bit.ly/3v8nckC