Nat Gas News – March 28, 2017
Nat Gas News – March 28, 2017
In the News
U.S. Shale to Feed European Gas Market Battered by Winter
Bloomberg reports: The heart of Europe’s gas market may finally get a helping hand from the American shale revolution as fuel is poised to cross the Atlantic to replenish depleted inventories after the coldest January in seven years. Supplies from the U.S. may arrive in the coming months to help replenish European stocks at their lowest level since 2013, according to Houston-based Cheniere Energy Inc., which is expanding its export plant in Louisiana. Most U.S. LNG exports have so far gone to Latin America, with cargoes also reaching Asia and the Middle East. Supplies from Cheniere’s Sabine Pass have also arrived in Spain, Portugal, Italy and Turkey at an increasing rate over the past three months, according to London-based consultant Timera Energy, which counts BP Plc to Gazprom PJSC as clients. The company estimates that only 17 percent of U.S. LNG went to Europe since exports started in February 2016. Competition will also come from Russia and Norway. They produce gas at a lower cost than U.S LNG and ship it via pipelines instead of on tankers. Russia’s Gazprom is also targeting Europe’s low inventories to help it sell a record volume to its highest-paying consumer. For more on this story visit bloomberg.com
U.S. natural gas builds on gains to reach 6-week high
Investing. com reports: U.S. natural gas futures extended gains to a third session on Monday, reaching a six-week high as forecasts showing cooler weather on the way boosted the heating fuel. A colder weather system will arrive over the Northeast later this week, according to forecasters at NatGasWeather.com, which should result in a modest increase in heating demand. Prices of the heating fuel are up around 15% so far this month after plunging by almost 30% in the first two months of the year. For more on this story visit investing.com or click http://bit.ly/2oaljjM
This article is part of Daily Natural Gas Newsletter
Tagged: natural gas, prices
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