Natural Gas News – April 19, 2022

U.S. Natural Gas Prices To Spike As Exports Boom

Meet Europe, the newest and unlikeliest star on the LNG stage. Europe recently had to reconsider its emissions-cutting ambitions in light of the danger of an unprecedented energy crunch. U.S. natural gas producers are only too happy to help. Cue worries about a domestic shortage. European Union governments have been discussing for weeks ways to cut their reliance on Russian oil and gas.There have been claims that the EU can make it through the summer even if gas imports from Russia are cut because there is enough gas in storage. Still, Brussels has stopped short of imposing an embargo on Russian gas, with Germany admitting it cannot afford one. There have been plans to reduce the overwhelming dependence on Russian gas by urgently finding alternative suppliers … For more info go to https://bit.ly/3EsVBOP

U.S. Natgas Futures Scale 13-year Peak on Cold Forecast

U.S. natural gas futures jumped more than 10% to more than a 13-year-high on Monday, surging on the back of an unseasonable cold snap in the United States expected to bring snow and ice to northern states. The unusual weather has boosted natural gas futures at a time when that market is generally shifting to moving gas into storage in preparation for the next winter. In addition, steady demand in Europe for liquefied natural gas (LNG) has kept U.S. exports flowing at record levels. Front-month gas futures NGc1 were up 6.5% at $7.776 per million British thermal units at 01:28 p.m. EDT (1728 GMT), having earlier hit their highest since September 2008. Last week the contract rose by 16%, the biggest one-week gain since 2020… For more info go to https://bit.ly/3JXyflw