Natural Gas News – February 2, 2018

Natural Gas News – February 2, 2018

South Africa Could Turn into Major Market for US Natural Gas

Washington Examiner reported: The Paris climate deal could turn South Africa into a major market for U.S. natural gas. South Africa, the largest producer of greenhouse gas emissions on the African continent, is undergoing an energy transition that will mean demand for natural gas will rise, according to a new report from the Energy Information Administration. Energy Secretary Rick Perry visited South Africa in October to meet with African leaders about importing more natural gas in 2018, several months before President Trump emphasized energy exports in his first State of the Union speech Tuesday night. Much of the transition to natural gas is being driven by South Africa’s commitment to the Paris Agreement. The country plans for carbon emissions to peak by 2025, remain flat for the next decade, and then begin to drop around 2035, the EIA said. South Africa, like China, is a huge consumer of coal for making electricity. Its coal reserves have been used to power its economy, one of the largest on the African continent, for decades. But that has made it one of the world’s leading emitters of energy-related CO2, ranking 15th globally for greenhouse gas emissions, according to the EIA. For more visit washingtonexaminer.com or click http://washex.am/2Ex3cNm

EIA Reports Smaller-than-Expected Decline in U.S. Natural-Gas Supply

MarketWatch reported: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 99 billion cubic feet for the week ended Jan. 26. Analysts surveyed by S&P Global Platts forecast a decrease of 103 billion, while the five-year average withdrawal is 160 billion. Total stocks now stand at 2.197 trillion cubic feet, down 526 billion cubic feet from a year ago, and 425 billion below the five-year average, the government said. March natural gas NGH18, +1.02% fell 12.7 cents, or 4.2%, at $2.868 per million British thermal units, down from $2.888 before the data. For more on this story visit marketwatch.com or click http://on.mktw.net/2s1VbO2