Natural Gas News – December 2, 2021
Natural Gas News – December 2, 2021
U.S. natgas futures edge up ahead of weekly storage report
U.S. natural gas futures edged up on Thursday with a small decline in output after dropping to a three-month low in the prior session as the market awaited direction from a federal report expected to show a bigger than usual storage withdrawal during last week’s colder than normal weather. That price increase came despite forecasts for milder weather and less heating demand over the next two weeks than previously expected, an easing of gas prices overseas and a small decline in liquefied natural gas exports. Analysts forecast that U.S. utilities pulled 57 billion cubic feet (bcf) of gas from storage during the week ended Nov. 26. That compares with a decline of 4 bcf in the same week last year and a five-year (2016-2020) average decline of 31 bcf. If correct, last week’s injection would … For more info go to
https://reut.rs/3pkjMrM
Imports to exports: US set to lead world in LNG sales
Sometime next year, when Venture Global’s Calcasieu Pass terminal in Louisiana ramps up toward full production and Cheniere Energy starts commercial operations through the latest addition to its nearby Sabine Pass terminal, the United States will become the world leader in liquefied natural gas production capacity. More than Qatar, which held the title for more than a dozen years. More than Australia, which dethroned Qatar a couple of years ago after a $200 billion investment bonanza that lasted about a decade. And almost 20 years sooner than ExxonMobil had predicted in 2016, when it said that North America would become the world’s top LNG exporter, but not until 2040. The LNG coronation is a long way from 15 years ago — before the start of the shale gas boom saved the U.S. from a natural gas deficit — when… For more info go to https://bit.ly/3peMfPG
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