Natural Gas News – February 9, 2018

Natural Gas News – February 9, 2018

Despite Federal Boosterism, Coal is Losing Out to Natural Gas and Renewables In Texas

HPPR reported: Renewable wind and solar energy, along with a booming natural gas industry, continue to win the battle over coal in Texas. As The Huntsville Tribune reports, last year Texas lost 455 coal-mining jobs, more than any other state. And the state’s biggest power supplier, Luminant, announced that it would be shuttering two massive coalfired plants this year. All of this comes despite President Trump’s avowal in his State of the Union address that his administration has “ended the war on beautiful, clean coal.” To underscore the state’s decreasing reliance on coal, the North Texas city of Denton recently passed a resolution to operate completely on renewable energy by 2020. For more on this story visit hppr.org or click http://bit.ly/2EuqPsj

 

GLOBAL LNG-Price Rebounds as North Asian Buyers Replenish

Reuters reported: Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold weather in North Asia forced buyers to enter the spot market to replenish inventory. Spot prices for March LSG-AS delivery in Asia climbed 40 cents to $10.60 per million British thermal units (mmBtu) this week, according to several LNG traders in Asia. Spot prices for March LSG-AS delivery in Asia climbed 40 cents to $10.60 per million British thermal units (mmBtu) this week, according to several LNG traders in Asia. Angola LNG sold a cargo for February at close to $11 per mmBtu to a Chinese company, traders said. The company has offered a March cargo as well. “People were waiting for prices to come down, so inventory has been drawn down, but due to the cold weather they have no choice but to enter the spot market at these prices,” a Singapore-based LNG trader said. Japanese utilities, Chinese and South Korean companies are either buying or inquiring for March cargoes, he added. For more visit reuters.com or click http://reut.rs/2BOKHp7

 

 

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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