Natural Gas News- June 30, 2022

June 30th 2022

 

Germany Hopes to Import LNG from Canada to Speed Transition Away from Russian fuel

German Chancellor Olaf Scholz used a meeting with Canadian Prime
Minister Justin Trudeau to push for closer energy ties as his ruling
coalition in Berlin races to find alternatives to Russian fossil
fuels.Germany hopes to import liquefied natural gas from Canada to
help replace the Russian gas it still relies on for more than a third of its
imports, down from about half before the invasion of Ukraine. Germany
and Canada have been discussing options for an LNG terminal on
Canada’s east coast to export to Europe, German officials said. Meeting
Monday on the sidelines of the Group of Seven summit in Bavaria,
Scholz and Trudeau discussed how to maintain pressure on President
Vladimir Putin and cut reliance on Russia for energy. “The two countries
will cooperate even better than they already do,” Scholz said, standing …
For more info go to https://bit.ly/3a3kF4r

U.S. Natgas Down 7%; Freeport LNG Outage Leaves More Fuel for Storage

U.S. natural gas futures dropped about 7% on Thursday to a 12-week
low, as the shutdown of Freeport’s liquefied natural gas (LNG) export
plant in Texas allowed utilities to stockpile more fuel than expected even
as hotter weather had generators burning more gas to keep air
conditioners humming. The U.S. Energy Information Administration (EIA)
said utilities added 82 billion cubic feet (bcf) of gas to storage during the
week ended June 24, exceeding the 74-bcf build analysts forecast in a
Reuters poll and increases of 73 bcf in the same week last year and a
five-year (2017-2021) average increase of 73 bcf. Last week’s build
boosted stockpiles to 2.251 trillion cubic feet (tcf), or 12.5% below the
five-year average of 2.573 tcf for this time of the year. Freeport, the
second-biggest U.S. LN… For more info go to https://bit.ly/3a3kF4r

 

In The Midst Of Recession, How A Hot Summer May Impact Commodities

In a recent interview on Bloomberg TV (see here), I painted a longer-term
bearish view in commodities. In fact, I began becoming concerned three
weeks ago about the potential wash-out in cotton, grains, natural gas
and other commodities; even Bitcoin (BTC-USD). Why? A flight to safety
by investors who I expected would “cash in” on profits in many markets.
This has indeed already happened, and now potential weather problems
are beginning to help some commodities like natural gas (UNG) and
soybeans (SOYB) rally back. My concerns about how a potential global
recession could have on commodities are featured in my latest issue of
Climatelligence. Natural gas prices bottoming on upcoming big-time
heat. One of the most volatile and difficult commodities to trade for
months has been natural gas. Following a stellar 100% p… For more info
go to https://bit.ly/3a3kF4r

 

 

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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