Natural Gas News – March 2, 2023
Natural Gas News – March 2, 2023
EU Energy Crisis May Lead To $100 Billion In New U.S. LNG
Developers of U.S. LNG export facilities could launch $100 billion worth of new plants over the next five years as high prices and the need for energy security create strong momentum for long-term LNG demand and contracts. The United States is set to overtake Qatar and Australia as the world’s top LNG exporter this year after Freeport LNG resumes operations in the spring, energy consultancy Wood Mackenzie said in a recent report. U.S. LNG exports could reach 89 million metric tons per annum (mmtpa) in 2023, according to WoodMac. “However, it won’t stop there,” the consultancy said, noting that U.S. capacity could jump by the end of this decade, potentially doubling American LNG exports. The energy crisis and the need for energy security—especially among European buyers after the Russian invasion of Ukraine… For more info go to https://bit.ly/3EPTaHs
US NatGas Futures Rise 2% To One-Month High Again
U.S. natural gas futures hit a one-month high on Monday on forecasts for colder weather next week and a rise in LNG exports. Natural Gas futures had risen by 6.48% as of 3:40 p.m. ET on Monday to $2.710, as U.S> LNG exports reached 12.8 bcf/d so far this month, up from 12.3 bcf/d last month. The monthly record for U.S. LNG exports was reached in March 2022, when the United States exported 12.9
bcf/d. NGc1 for April delivery rose 13.4 cents U.S. natural gas futures rose about 2% to a fresh one-month high on Wednesday on afternoon forecasts calling for colder weather and higher heating demand next week than previously expected. That price rise also came with a monthly drop in gas output in February and an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants to… For more info go to https://yhoo.it/3KLN66Q
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