Nat Gas News – February 7, 2017

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 MPG Weekly Market Report

Mild temperatures continue to proliferate through most of the contiguous 48 states, and along with it muted demand for natural gas.  Both the 10- and 14-day outlooks call for continued warmer weather, and as a result projected HDDs for February have taken a significant hit. As we inch closer to the end of the high demand season, slowing withdrawals from inventory have caused a slight increase in storage against the 5 year average – pushing levels to 2.2% above the seasonal average – after hovering slightly below average for the last couple of weeks.

In the News

High-pressure natural gas turbine-generator

PHYS.org reports: Scientists of Peter the Great St. Petersburg Polytechnic University (SPbPU) have developed a turbo expander electric generator operating on high-pressure natural gas. Natural gas, compressed at the power station, releases a large amount of thermal energy into the environment as waste; the use of such derived energy may represent a step toward sustainable energy. The focus of the research is an expansion turbine that triggers a significant pressure drop at a low volume flow of natural gas with electrical power of 1 kW. The plastic turbine is manufactured via 3D printing; the turbo expander electric generator converts part of the emitted energy into electrical power, thus reducing thermal pollution of the environment. Additionally, the derived energy that previously would be wasted can be used to generate electricity without any additional fuel. “The implementation of the turbo expander electric generator can become a no-break power supply of sustainable electricity,” says Viktor Rassokhin, of the Institute of Energy and Transport Systems SPbPU. For more visit phys.org or click the following link http://bit.ly/2kfThRv

Oil turns lower as markets focus on U.S. drilling activity

The NASDAQ reports: Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. increased by 17 last week, the 13th gain in 14 weeks. That brought the total count to 583, the most since November 2015. The data raised concerns that the ongoing rebound in U.S. shale production could derail efforts by other major producers to rebalance global oil supply and demand. Futures have been trading in a narrow range around the mid-$50s over the past month as sentiment in oil markets has been torn between hopes that oversupply may be curbed by output cuts announced by major global producers and expectations of a rebound in U.S. shale production. For more visit nasdaq.com or click the following link http://bit.ly/2kg1C7F

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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