Natural Gas News – February 3, 2023

Natural Gas News – February 3, 2023

US Nat Gas Jumps 9% As Freeport LNG Asks To Start Restart Process

U.S. natural gas futures jumped about 9% on Monday from a 19-month low in the prior session on Freeport LNG’s request to begin the restart process for its liquefied natural gas (LNG) export plant in Texas and on forecasts for colder weather and higher heating demand over the next two weeks than previously expected. Freeport LNG, the second-largest U.S. LNG exporter, said it had completed repairs to its plant and asked U.S. regulators for permission to take early steps to restart the fire-idled facility. Freeport has said repeatedly that the plant is on track to restart in the second half of January, pending regulatory approvals. Analysts, however, said the plant would likely return in February or later due to the large amount of work needed to satisfy federal regulators. Freeport has already delayed the plant’s… For more info go to https://yhoo.it/40pxtHr

The Amount Of Gas Sent To U.S. LNG Export Terminals Is Increasing

While the global energy sector looks for replacements for Russian natural gas, the U.S. government reported that natural gas deliveries to LNG export terminals increased by nearly 10% from week-ago levels. Data from the Energy Information Administration, part of the Energy Department, show the amount of natural gas sent to facilities that can export that in the super-cooled liquid form increased from 11.6 billion cubic feet on average to 12.7 billion cubic feet during the seven-day period ending Wednesday. EIA said natural gas consumption, production and exports all broke records last year and there’s more to come. Gas production in January alone is on pace for a 0.5% increase from the prior month.” “We expect production in both the Permian region in West Texas and Southeast New Mexico and… For more info go to https://bit.ly/3XWv9WQ