Natural Gas News – December 21, 2023
Natural Gas News – December 21, 2023
US Natgas Prices Edge up 1% on Record LNG Feedgas, Higher Demand
U.S. natural gas futures gained about 1% to a one-week high on Wednesday amid record amounts of gas flow to liquefied natural gas (LNG) export plants and on forecasts for higher gas demand this week than previously expected. That price increase came despite record gas production and forecasts for milder weather and lower heating demand next week that should allow utilities to keep pulling less gas from storage than usual through the end of
December. Analysts forecast there was around 8.7% more gas in storage than usual for this time of year. EIA/GASNGAS/POLL Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange rose 2.6 cents, or 1.0%, to $2.518 per million British thermal units at 9:04 a.m. EST (1404 GMT), putting the contract on track for its highest close since Dec. 8. A lack of … For more information, go to https://shorturl.at/hvwGS
Beijing Ready to Expand Energy Cooperation with Russia – Chinese envoy to Moscow
Beijing intends to expand energy cooperation with Russia along all stages of production, Chinese Ambassador to Russia Zhang Hanhui told the Russian state RIA news agency in an interview published on Tuesday. “China expects to expand cooperation along the entire production chain in the energy industry,” RIA cited the envoy as saying, ahead of a meeting of Russian Prime Minister Mikhail Mishustin and China’s top leaders. “In the face of fluctuations in the global energy market and in the face of external risks and challenges, Russia and China always adhere to the principles of mutual trust and mutual benefit, constantly increase cooperation in the energy field and thereby make a positive contribution to ensuring global energy security,” Zhang was quoted as saying. The envoy also said both c… For more information, go to https://shorturl.at/dfhl2
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