Natural Gas News – January 12, 2023

Natural Gas News – January 12, 2023

Global LNG Imports Hit A Record High In 2022

Global imports of liq+F5:H12uefied natural gas (LNG) hit a record high of 409 million tons last year, as Europe scrambled to replace Russian pipeline gas supply and outbid Asia to draw the majority of cargoes. The global LNG imports of 409 million tons in 2022 were up from world imports of 386.5 million tons in 2021, per data from Refinitiv quoted by Reuters’ Asia Commodities and Energy Columnist, Clyde Russell. Commodity analytics firm Kpler puts the 2022 global LNG imports at 400.5 million tons, an increase compared to imports of 379.6 million tons in 2021. While Asia was the primary destination of LNG in previous years, Europe emerged as the premium market for liquefied natural gas as it seeks to replace Russian pipeline gas supply. Europe is estimated to have imported nearly one-quarter of all LNG traded last …

Analysts Expect 13 Billion-Cubic Foot Withdrawal in U.S. Natural-Gas Inv

U.S. government natural-gas data due Thursday are expected to show inventories fell by a much smaller than normal amount last week due to strong production levels and unseasonably mild weather that curbed demand. The Energy Information Administration is expected to report that gas-in-storage levels decreased by 13 billion cubic feet during the week ended Jan. 6, according to the average forecast of 11 analysts, brokers and traders surveyed by The Wall Street Journal. Estimates ranged from decreases of 5 bcf to 30 bcf. The average forecast compares with normal declines of more than 150 bcf for this time of year. The EIA plans to release its natural-gas storage data for the week at 10:30 a.m. ET Thursday. A 13-bcf decrease would mean gas stockpiles totaled 2.878 trillion cubic feet, 5.4% …