Nat Gas News – April 6, 2017

Nat Gas News – April 6, 2017

In the News

Gas Giants Share OPEC’s Shale Pain as U.S. Supply Flows East

Hellenic Shipping News reports: OPEC isn’t the only decades-old energy hegemony being turned on its head by U.S. shale. Liquefied natural gas sellers from Qatar to Malaysia that dominated gas sales to Asia for years are facing the prospect of rising American exports. While less than 30 U.S. cargoes have landed in Asia, their effect was felt even before they arrived. LNG trade in 2016 jumped the most in five years, contract lengths were sliced in half in the past decade, and spot prices slumped more than 60 percent in the past three years. Houston-based Cheniere Energy Inc. began exporting shale gas from the U.S. last year, and by 2020 the country could become the world’s third-largest exporter, behind Australia and Qatar, with capacity to produce 71 million tons of the fuel a year. The U.S. could pass both those countries by 2035, according to Meg Gentle, chief executive officer of prospective shale gas exporter Tellurian Inc. For more on this story visit hellenicshippingnews.com or click http://bit.ly/2o6a3Hi

U.S. natural gas builds on gains to reach highest since January

Investing.com reports: U.S. natural gas futures rose for the second day in a row on Wednesday, reaching the strongest level since the end of January as traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels. Overall, an active spring pattern is expected the next two weeks across most parts of the U.S. with swings in demand between slightly lighter and stronger than normal every few days. For more visit investing.com or click http://bit.ly/2o0WION

 

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