Natural Gas News – December 7, 2023
Natural Gas News – December 7, 2023
Surging LNG Exports Expose The U.S. To Natural Gas
Soaring U.S. LNG exports have made natural gas a global commodity and the United States vulnerable to global price volatility. As American exports of liquefied natural gas are set to grow further this decade, the once-isolated U.S. natural gas prices will become increasingly linked to the pace of LNG exports and global supply and
demand. As Europe has been scrambling to replace Russian pipeline gas supply since Russia’s invasion of Ukraine, growing volumes of U.S. LNG are making their way to Europe instead of Asia. Exporters are also signing long-term deals to ship the gas from existing and future LNG export facilities to international markets to underpin final investment decisions for the new plants. With more domestically produced natural gas feeding export facilities and helping Europe stock up on LNG, U.S. … For more info go to https://shorturl.at/gkvG3
US NatGas Prices Edge Up On Cooler Forecasts, Record LNG
U.S. natural gas futures edged up around 1% on Wednesday on forecasts for colder weather and higher heating demand over the next two weeks than previously expected, and as record amounts of gas flowed to U.S. liquefied natural gas (LNG) export plants. The price increase came despite near-record U.S. output and forecasts for mostly mild weather through late December that have allowed utilities to leave more gas in storage to meet heating demand. Analysts forecast U.S. gas stockpiles on Dec. 1 were about 7.2% above normal levels for this time of year. Front-month gas futures for January delivery on the New York Mercantile Exchange rose 2 cents, or 0.7%, to $2.730 per million British thermal units (mmBtu) at 9:20 a.m. EST Despite Wednesday’s price increase, the futures market has been sending… For more info go to https://shorturl.at/isHT9
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