Natural Gas News – February 22, 2022

Natural Gas News – February 22, 2022

U.S. natgas futures rise on record LNG exports, colder forecasts

U.S. natural gas futures rose nearly 2% on Friday on record liquefied natural gas (LNG) exports and a forecast for much colder weather and higher heating demand in two weeks’ time. That price increase came despite a continued slow recovery in U.S. output from cold weather related reductions earlier in the month and forecasts for less cold weather and lower heating demand next week than previously expected. Traders said the U.S. market continued to shrug off what was happening in the Europe gas market, where prices TRNLTTFMc1 were down about 3%, due in part to a perceived easing in tensions between Russia and Ukraine. The United States has worked with other nations to ensure gas supplies, mostly LNG, would keep flowing to Europe if Russia cuts off exports there. The United States and Europe have said they would… For more info go to https://bit.ly/3IeSNpC

Three countries provided almost 70% of liquefied natural gas received in Europe

In 2021, a large share of Europe’s supply of liquefied natural gas (LNG) originated in the United States, Qatar, and Russia. Combined, these three countries accounted for almost 70% of Europe’s total LNG imports, according to data by CEDIGAZ. The United States became Europe’s largest source of LNG in 2021, accounting for 26% of all LNG imported by European Union member countries (EU-27) and the United Kingdom (UK), followed by Qatar with 24%, and Russia with 20%. In January 2022, the United States supplied more than half of all LNG imports into Europe for the month. Exports of LNG from the United States to EU-27 and the UK increased from 3.4 billion cubic feet per day (Bcf/d) in November 2021 to 6.5 Bcf/d in January 2022—the most LNG shipped to Europe from the United States on a monthly… For more info go to https://bit.ly/3JNUI4O