Natural Gas News – February 21, 2023

Natural Gas News – February 21, 2023

UK Remains Top Destination For US LNG Supplies

According to the Department of Energy’s newest LNG monthly report, US terminals have sent 69.3 Bcf of LNG to the UK in December, followed by the Netherlands (39.9 Bcf), France (38.3 Bcf), Spain (33.8 Bcf), and South Korea (24.7 Bcf). These five countries took 60.7 percent of total US LNG exports in December. The UK took 82.8 Bcf of US LNG in November, followed by France with 50.7 Bcf. France was the top destination for US LNG exports in October and September while the Netherlands took on this role in August. Prior to August, France was also the top destination for five straight months. The US has exported in total 339.6 Bcf of LNG in December, down by 1.6 percent compared to same month in 2021 but up 12.3 percent from the prior month, the DOE report shows. US terminals shipped 111 LNG cargoes in December. This… For more info go to https://bit.ly/3xDn4el

Spending By U.S. Natural Gas Consumers Rose 37%

The increased spending followed rising U.S. natural gas prices, particularly in the electric power sector across the southern United States. Total U.S. natural gas consumption remained virtually unchanged from 2020 to 2021. In every U.S. state, the amount spent on natural gas rose in 2021. The increase was particularly high in some states, more than doubling in Oklahoma and Texas. Natural gas spending rose by more than 50% in five additional states, four of which were in the surrounding area: New Mexico, Arkansas, Louisiana, and Arizona. In February 2021, a winter storm in Texas and Oklahoma led to natural gas price spikes and depleted inventories, which significantly increased spending on natural gas. The fifth state where natural gas spending rose by more than 50% was North Dakota. In… For more info go to https://bit.ly/3Z8L18P