Natural Gas News – February 27, 2018

Natural Gas News – February 27, 2018

Shell Warns of Liquefied Natural Gas Shortage as LNG Demand Blows Past Expectations

CNBC reported: Royal Dutch Shell says the world could be grappling with a shortage of liquefied natural gas within a decade due to underinvestment in new projects. The Anglo-Dutch energy giant issued the warning in its second annual LNG outlook, which reports on developments in the booming market for natural gas cooled to liquid form for export. Shell says the market for LNG grew by 29 million tons last year, 30 percent more than previously expected. Trading in LNG reached 293 million tons in 2017, up from just 100 million tons at the turn of the century. At nearly 300 million tons, suppliers shipped enough LNG last year to power about 575 million homes, by Shell’s count. LNG is playing a growing role in the energy mix as nations around the world seek to mitigate the impacts of climate change. While natural gas is a carbon-emitting fossil fuel, it burns cleaner than coal and heating oil. Shell’s report is good news for an industry that will see a huge amount of LNG capacity come online in the next few years, including from the United States, where five LNG export terminals are expected to start up by the end of 2019. For more on this story visit cnbc.com or click http://cnb.cx/2EVyxwU

SoCalGas Pulls Natgas from California Aliso Canyon to Meet High Demand

Reuters reported: Southern California Gas pulled natural gas from the Aliso Canyon storage facility in Los Angeles several times over the past week as consumers cranked up their heaters to escape unseasonably cold weather, SoCalGas said Sunday in a note to pipe customers. Those were likely the first withdrawals from Aliso Canyon since state regulators allowed the utility to start injecting fuel back into the facility in July after it shut following a massive leak from October 2015 to February 2016. For more visit reuters.com or click http://reut.rs/2FaOj6a

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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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