Natural Gas News – April 30, 2018
Natural Gas News – April 30, 2018
The Top Natural Gas Players in 2018
Dan Steffens reported: Upstream companies that get the majority of their revenues from the sale of natural gas and the associated natural gas liquids have been out of favor for at least three years. However, the “Gassers” that I follow closely are some of the most profitable companies on my Watch List. If you are a contrarian investor, maybe now is the time to add some shares of high quality natural gas producers while they are on sale. I believe the North American natural gas market is setting up for a significant price spike in just a few months. Colder than normal weather in the Great Lakes Region has caused draws from U.S. natural gas storage for the first three weeks of April. Per the U.S. Energy Information Administration’s (EIA) report for the week ending April 20, 2018, natural gas in storage is now 527 billion cubic feet (Bcf) below the 5-year average and 897 Bcf below where storage levels were at the same point last year. Draws from storage usually end in March, but this “Winter that Never Ends” in the Northeast quarter of the United States has resulted in 73 Bcf being drawn from storage when the 5-year average for the first three weeks of April is a build of 130 Bcf. For more on this story visit oilprice.com or click https://bit.ly/2jfF9ZD
ExxonMobil Restarts Second PNG LNG Train; Resumes Export
Platts reported: ExxonMobil PNG Ltd has restarted the second liquefied natural gas train at the Papua New Guinea LNG project nearly three weeks after the first train was restarted, as the project recovers from the impact of the earthquake in February. “The plant is now operating at normal production rates, and exports of LNG have resumed,” ExxonMobil, which is the main operator of PNG LNG, said in a statement Monday. The restart of PNG LNG’s second train was expected to be bearish on prices, especially after Platts JKM LNG prices rose from $7.625/MMBtu last Monday to close the week at $8.125/MMBtu Friday, on demand for shortcovering. For more on this story visit platts.com or click https://bit.ly/2KmY5lw
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