Natural Gas News – September 23, 2021

It’s Going to Be an Expensive Winter for Natural Gas

Global supply of natural gas has been at some of its lowest reserves thanks to a year of historic weather events, from freezing, to drought, to hurricanes, and natural gas prices are already surging. With winter still looming, there is increasing concern about shortages as well as exorbitant gas prices that haven’t been seen in over a decade, reports The Wall Street Journal. Friday saw U.S. natural gas futures closing at $5.105 per million British thermal units, up 17% in the last month and almost doubled from prices six months ago. At a time when prices are supposed to be at some of their lowest as the country is coming out of summertime and lower gas usage, the appearance of prices that haven’t been seen since a blizzard in 2014 have analysts concerned about the outlook for winter. With prices already on the ris… For more info go to https://bit.ly/3CCZHlt

Russia urged to pump more gas to Europe as energy prices soar

The International Energy Agency has called on Russia to supply more natural gas to Europe to help alleviate soaring energy prices. The Paris-based group said in a statement that while Russia is fulfilling its long-term contracts to European customers, exports are down from their 2019 level. Russia is the European Union’s largest supplier of natural gas. “The IEA believes that Russia could do more to increase gas availability to Europe and ensure storage is filled to adequate levels in preparation for the coming winter heating season,” the energy watchdog said. “This is also an opportunity for Russia to underscore its credentials as a reliable supplier to the European market,” it added. Why Europe still can't take risks with its supply of Russian gas . Why Europe still can’t take risks … For more info go to https://cnn.it/3u5K4zN