Natural Gas News – February 4, 2022
The Global Gas Crisis Has Made American LNG Hot Again
The global gas crunch and skyrocketing prices in Europe and Asia are laying the foundations for a revival in final investment decisions in new liquefied natural gas (LNG) export projects in the United States. Following a nearly three-year-long hiatus in project sanctioning in
America, the high natural gas prices globally, the historically low storage levels in Europe, and the continuously growing gas demand in Asia could incentivize the signing of more long-term offtake LNG contracts. Such deals would secure supply commitments for decades for LNG projects and show financiers that export facility developers could make handsome profits by selling gas to energy-starved regions, despite the recent backlash against fossil fuels, including natural gas. Several U.S. LNG projects hope to move to final investment decision… For more info go to https://bit.ly/3shaoqa
Natural gas spikes 16% ahead of winter storm
Natural gas futures soared Wednesday as energy markets brace for a powerful winter storm that threatens to derail production just as
demand rises. The latest spike will keep home heating costs for millions of Americans elevated, adding to a long list of inflationary headaches. Natural gas futures surged 16% Wednesday to close at $5.50 per million British thermal unit (BTU). That’s near the highest level since last November. Natural gas futures have spiked 55% since sinking to $3.56 on December 30. Trading in natural gas can be extremely volatile, especially during the winter when supply and demand can swing sharply. Analysts blamed forecasts for a major winter storm that is expected to bring snow and ice to much of the United States. More than 100 million people are under winter weather al… For more info go to https://cnn.it/3rpsMxY
