Natural Gas News – January 6, 2022
Natural Gas News – January 6, 2022
U.S. Natural Gas Market: Demand Is Close To An All-Time High
Last week (ending Dec. 31), the number of heating degree days (HDDs) plunged by almost 21% w-o-w (from 166 to 132). The total “energy demand” (as measured in total degree days or TDDs) was 20% below last year’s level and as much as 28% below the 30-year average. This week (ending Jan. 7), the weather conditions in the contiguous United States have been cooling down quite substantially. I estimate that the number of nationwide HDDs will plunge by more than 60% w-o-w (from 132 to 212). The average daily consumption of natural gas (in the contiguous United States) should be somewhere between 113 bcf/d and 116 bcf/d. The total “energy demand” (measured in TDDs) should rise by 21% y-o-y, while the deviation from the norm will turn sharply positive (+11%). Next week (ending Jan. 14), the weather conditions are expected … For more info go to https://bit.ly/3HJ9F7c
US becomes world’s top exporter of liquified natural gas
The United States is now the world’s leading exporter of liquified natural gas as Europe’s energy crisis and shortages in China send demand for American shipments soaring. LNG exports from the United States topped 7 million tonnes (7.7 million tons) in December, according to ship tracking data from ICIS LNG Edge, narrowly edging out rival producers Qatar and Australia for the first time. The United States only shipped its first LNG cargo from the lower 48 states in 2016, and has risen to become the world’s top exporter in just six years as a shale gas revolution boosted domestic production and turned the country into a powerful force in global energy markets. The United States will be the biggest exporter in the world through 2022 as a whole, according to forecasts from ICIS and the US… For more info go to https://cnn.it/3qS3NC6
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