Natural Gas News – January 29, 2019

Natural Gas News – January 29, 2019

State Joins U.S. Shift Toward Natural Gas, Renewable Energies

Arkansas Democrat Gazette reported: The growth of renewable energy and natural gas generation will continue through at least 2050, a federal agency has projected. The U.S. Energy Information Administration issued its 2019 Annual Energy Outlook on Thursday, projecting that natural gas will produce 39 percent of the more than 5 trillion kilowatt hours the United States will generate in 2050. That’s up from 34 percent of the roughly 4 trillion kilowatt hours the nation now produces annually. The agency expects the United States to export a great deal of its natural gas and become a net energy exporter by 2020, aided by high demand and low, stable prices. For renewables, the agency estimates that generation will increase from 18 percent of total power to 31 percent. The bulk of that growth will occur in solar power, which is projected to rise from about 2.3 percent of total U.S. energy to almost 15 percent by 2050. For more on this story visit arkansasonline.com or click https://bit.ly/2sXrUkZ

Natural Gas Tumbles on Warmer February Forecast

Kallanish Energy reported: Natural gas prices fell sharply Monday, as weather forecasts for February show more normal and even warmer-thannormal temperatures for parts of the U.S., after a potential brutal cold snap this week. Natural gas futures for February fell 7.2%, to $2.95 per million British thermal units (Mmbtu), Kallanish Energy reports. The market has been volatile this winter with worries about low amounts of gas in storage, but high levels of production have helped alleviate that concern. The latest weekly survey by the Energy Information Administration shows for the week ended Jan. 18, 2.37 trillion cubic feet (Tcf) of working natural gas was stored underground. The total was up slightly from 2.34 Tcf in storage one year ago, but down substantially from the five-year average of 2.68 Tcf. (All numbers are rounded.) Forecasters had been expecting a longer period of low temperatures. For more on this story visit kallanishenergy.com or click https://bit.ly/2WpJgog