Natural Gas News – June 1, 2018

Natural Gas News – June 1, 2018

Shell Tries to Market Some of Its Natural Gas as Clean Energy

Bloomberg reported: Royal Dutch Shell Plc is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel. The oil giant is offering business customers in Europe a combination of gas and certificates that show emissions are off-set with financing for carbon-reduction projects. It’s testing markets in Germany, Italy, Spain and Britain to gauge demand for what credits to use, according to David Wells, head of Shell Energy Europe. The move is the latest sign that oil companies are seeking to adapt to tighter environmental rules and the urge by policy makers worldwide to cut greenhouse gases. Natural gas is the cleanest of fossil fuels, though it still produces carbon dioxide blamed for heating the Earth’s atmosphere. By selling pollution offsets with the gas, Shell could “neutralize” the impact of that fuel on the climate. “Most companies are fairly early in the sustainability journey, so there’s a huge amount of interest” from potential customers, Wells said in an interview. For more on this story visit bloomberg.com or click https://bloom.bg/2LcjwoV

UK NBP Near-Term Natural Gas Prices Extend Losses on Lower Demand

Platts reported: UK NBP near-term prices extended their descent Friday morning, amid low UK and continental demand, which allowed medium range withdrawals to ease, despite continuing outages on UK and Norwegian gas supply assets. National Grid forecast demand in the UK at 142.3 million cu m Friday, with physical supply of 146.8 million cu m exceeding demand slightly, according to 11:00 am BST data. The NBP within-day contract was heard trading at 58 p/th, down 1.8 p/th from Thursday, with the weekend contract down 0.95 p/th to 57.55 p/th. The NBP day -ahead contract was down 1 p/th to 57.8 p/th. Withdrawals from medium range storage facilities dropped to 8 million cu m/d Friday morning. For more on this story visit platts.com or click https://bit.ly/2kGXf7J

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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