Front-month gas futures for November delivery declined by 8.9 cents, or 2.8%, to $3.147 per million British thermal units (mmBtu). In Europe, gas prices at the Title Transfer Facility (TTF) benchmark in the Netherlands fell around 10% to $15 per mmBtu as rising LNG output eased supply concerns.

According to data from SUPPLY AND DEMAND LSEG, average natgas output in the Lower 48 U.S. states hit a daily average of 103.4 billion cubic feet (bcfd) so far in October, exceeding the previous record high of 103.1 bcfd in July.

The post Natural Gas Prices Down Amid Output Surge, Mild Weather appeared first on theprimarymarket.com.

Power usage in Texas was on track to hit an 11th all-time high this summer on Monday with usage expected to rise to 85,605 megawatts (MW) throughout the day, the state’s grid operator, the Electric Reliability Council of Texas (ERCOT), reported. This is largely due to air conditioning usage across homes and businesses. On August 10, ERCOT recorded an all-time high of 85,435 MW.

Last year, natural gas-powered plants accounted for 49% of the State of Texas’ power, with the remaining electricity supply coming from wind (22%), coal (16%), nuclear (8%), and solar (4%) energy. Front-month gas futures for September on the New York Mercantile Exchange rose by 6.8 cents or 2.7%.

The post Natgas Futures Rise Amid Heatwave appeared first on theprimarymarket.com.

Power generated by gas countrywide rose by 43% over the past week. This came as wind power generation slumped to just 5%, thereby forcing an uptick in power generation through gas in order to keep up with electricity demands.

Front-month gas futures for July delivery on the New York Mercantile Exchange declined by 1.9%, or 4.3 cents, to $2.202 per million British thermal units (mmBtu). A growing interest in the energy industry as well as the downward trend in prices has sparked investor interest, with interest in NYMEX gas futures rising to 1.389 million contracts on Monday; the most since September 2021.

According to Refinitiv data, U.S. gas demand is forecast to fall from 95.4 bcfd this week to 94.1 bcfd next week. This comes after U.S. exports to Mexico increased to an average of 7.5 bcfd so far in June, compared to 5.9 bcfd in May.

The post Natural Gas Futures Down as LNG Exports Dwindle appeared first on theprimarymarket.com.

Despite arguments between Japan and European nations, the G7’s April meeting reached a consensus whereby climate ministers agreed that gas investments “can be appropriate to help address potential market shortfalls”. This move is also viewed as necessary with regard to overcoming the shortfall in supply that came after Russia’s invasion of Ukraine.

“We stress the important role that increased deliveries of LNG (liquefied natural gas) can play, and acknowledge that investment in the sector can be appropriate in response to the current crisis and to address potential gas market shortfalls provoked by the crisis,” the G7 declared in a statement.

Once Russia’s top gas buyer, Germany came out in support of the shift to gas investments, calling them a necessary step to reducing reliance on Russian supplies. Japan expressed the view that liquified natural gas can be used as a transition gas in the shift toward renewable energy.

The post G7 Resumes Support for Gas Investments in Latest Meeting appeared first on theprimarymarket.com.

According to the press release, the total value of Cheniere Energy’s outstanding contracts prior to the decline in natural gas prices amounts to $4.7 billion, thereby hedging the company against potential losses resulting from the recent price fall.

The largest US exporter of liquefied natural gas, Cheniere Energy confirmed that its exports of LNG hit record numbers over the first quarter amid a surge in overseas demand. The bulk of these cargos were delivered before milder than expected weather conditions curbed European demand for LNG.

Following its stronger than expected quarterly performance, the company raised its 2023 annual earnings forecast before items including derivative gains by $200 million to a midpoint of $8.5 billion.

The post Cheniere Energy Reports Record Profit Despite Natural Gas Price Fall appeared first on theprimarymarket.com.

This decline is expected to be a result of milder weather forecasts than is typically expected. This fall in demand, along with an increasing proportion of electricity generation from cheaper renewable energy sources and falling natural gas prices, is set to lower wholesale energy prices this year, the EIA observed.

According to the EIA’s report, electricity demand is expected to fall from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022 to 4,000 billion kilowatt-hours (kWh) in 2023. The EIA expects, however, that power demand will recover in 2024, rising to a new historic high of 4,062 billion kWh in 2024 as the U.S. economic recovery gets underway.

With the United States’ capacity for power generation from renewable sources such as solar and wind on the rise, the EIA expects coal-fired power generation to fall to less than 17% in the spring of 2023.

The post Power Demand Expected to Slide By 1% In 2023 appeared first on theprimarymarket.com.

These high levels of gas flow come after Freeport LNG’s plant in Texas reopened in February after remaining closed for eight months. The facility was temporarily shut in June 2022 following the outbreak of a fire.

Front-month gas futures for May delivery listed on the New York Mercantile Exchange advanced by 3 cents, or 1.4%, to $2.127 per million British thermal units during Tuesday’s morning session. This comes after a particularly volatile period of trading, with the front-month gaining rising or falling by 5% or more in 12 of the past 22 days of trading.

Data provider Refinitiv reported that Freeport LNG’s Texas facility was set to pull in about 2.2 billion cubic feet per day (bcfd) of gas on Tuesday, down from the 2.3 bcfd pulled in on Monday.

The seven major U.S. LNG export plants posted average gas flows of 4.1 bcfd so far in April; a rise from the record 13.2 bcfd in March.

The post U.S. Natural Gas Futures Rise as Gas Flow to LNG Plants Remain At Record Highs appeared first on theprimarymarket.com.

Front-month gas futures for April delivery were up 6.2 cents, or 2.9%, to $2.216 per million British thermal units (mmBtu). This contract remains 5% lower for the week, marking its third weekly loss in a row since early February. On February 21, frotn-month gas futures for April delivery closed at a 29-month low of $2.073 mmBtu.

Friday’s recovery coincides with expectations that the gas flow to liquified natural gas (LNG) export plants would hit a record high following the reopening of the Freeport LNG plant in Texas following an eight-month halt in operations.

Refinitiv data showed that Freeport LNG’s export plant was on track to pull in about 1.6 billion cubic feet per day (bcfd) of gas on Friday; a rise from the 1.5 bcfd on Thursday. Freeport warned, however, that gas flows may rise and fall at a turbulent pace as the plant seeks to restore itself to full service following its extended suspension of activities.

The post Natural Gas Futures Up Amid Colder Weather Forecasts appeared first on theprimarymarket.com.

Investors are awaiting the release of a federal report that is expected to show that last week’s storage withdrawal was lower than usual for this time of year due to mild weather keeping heating demands low. In addition, prices were on the rise as Freeport LNG’s export plant in Texas upped the volume of gas flowing through the facility, thereby reversing last week’s decline.

While pulling in just 0.2 billion cubic feet per day on Tuesday, Freeport LNG’s Texas plant was on track to pull in 0.8 billion cubic feet per day (bcfd) of gas on Wednesday and Thursday. The plant returned to operation in February after a fire had caused a hiatus since June 2022.

Front-month gas futures for April delivery rose 6.3 cents, or 2.5%, to $2.614 per million British thermal units on Thursday morning. This is a sharp u-turn from the 5% decline that was incurred on Wednesday, sending the futures to their lowest point since February 24.

The post Natural Gas Futures Rise Following Colder Weather Forecasts appeared first on theprimarymarket.com.

Front-month gas futures for April delivery were up 6.9 cents, or 2.5%, to $2.834 per million British thermal units. This puts it on track to achieving its highest weekly close since January 27. The latest movements put front-month gas up 16% for the week, which would be its largest weekly gain since July last year.

Gas flows have been on the rise since Freeport LNG’s facility in Texas resumed activity in February after an eight-month hiatus stemming back to a fire in June 2022. According to data provided by Refinitiv, Freeport LNG’s export plant is set to pull in about 1.4 billion cubic feet per day (bcfd) of gas on Friday; an increase of 1.2bcfd from Thursday.

When operating at full capacity, Freeport LNG is capable of processing 2.1 bcfd of gas into LNG for export.

The post U.S. Natural Gas Rises to 5-Week High appeared first on theprimarymarket.com.

Front-month gas futures for November delivery declined by 8.9 cents, or 2.8%, to $3.147 per million British thermal units (mmBtu). In Europe, gas prices at the Title Transfer Facility (TTF) benchmark in the Netherlands fell around 10% to $15 per mmBtu as rising LNG output eased supply concerns.

According to data from SUPPLY AND DEMAND LSEG, average natgas output in the Lower 48 U.S. states hit a daily average of 103.4 billion cubic feet (bcfd) so far in October, exceeding the previous record high of 103.1 bcfd in July.

The post Natural Gas Prices Down Amid Output Surge, Mild Weather appeared first on theprimarymarket.com.

Power usage in Texas was on track to hit an 11th all-time high this summer on Monday with usage expected to rise to 85,605 megawatts (MW) throughout the day, the state’s grid operator, the Electric Reliability Council of Texas (ERCOT), reported. This is largely due to air conditioning usage across homes and businesses. On August 10, ERCOT recorded an all-time high of 85,435 MW.

Last year, natural gas-powered plants accounted for 49% of the State of Texas’ power, with the remaining electricity supply coming from wind (22%), coal (16%), nuclear (8%), and solar (4%) energy. Front-month gas futures for September on the New York Mercantile Exchange rose by 6.8 cents or 2.7%.

The post Natgas Futures Rise Amid Heatwave appeared first on theprimarymarket.com.

Power generated by gas countrywide rose by 43% over the past week. This came as wind power generation slumped to just 5%, thereby forcing an uptick in power generation through gas in order to keep up with electricity demands.

Front-month gas futures for July delivery on the New York Mercantile Exchange declined by 1.9%, or 4.3 cents, to $2.202 per million British thermal units (mmBtu). A growing interest in the energy industry as well as the downward trend in prices has sparked investor interest, with interest in NYMEX gas futures rising to 1.389 million contracts on Monday; the most since September 2021.

According to Refinitiv data, U.S. gas demand is forecast to fall from 95.4 bcfd this week to 94.1 bcfd next week. This comes after U.S. exports to Mexico increased to an average of 7.5 bcfd so far in June, compared to 5.9 bcfd in May.

The post Natural Gas Futures Down as LNG Exports Dwindle appeared first on theprimarymarket.com.

Despite arguments between Japan and European nations, the G7’s April meeting reached a consensus whereby climate ministers agreed that gas investments “can be appropriate to help address potential market shortfalls”. This move is also viewed as necessary with regard to overcoming the shortfall in supply that came after Russia’s invasion of Ukraine.

“We stress the important role that increased deliveries of LNG (liquefied natural gas) can play, and acknowledge that investment in the sector can be appropriate in response to the current crisis and to address potential gas market shortfalls provoked by the crisis,” the G7 declared in a statement.

Once Russia’s top gas buyer, Germany came out in support of the shift to gas investments, calling them a necessary step to reducing reliance on Russian supplies. Japan expressed the view that liquified natural gas can be used as a transition gas in the shift toward renewable energy.

The post G7 Resumes Support for Gas Investments in Latest Meeting appeared first on theprimarymarket.com.

According to the press release, the total value of Cheniere Energy’s outstanding contracts prior to the decline in natural gas prices amounts to $4.7 billion, thereby hedging the company against potential losses resulting from the recent price fall.

The largest US exporter of liquefied natural gas, Cheniere Energy confirmed that its exports of LNG hit record numbers over the first quarter amid a surge in overseas demand. The bulk of these cargos were delivered before milder than expected weather conditions curbed European demand for LNG.

Following its stronger than expected quarterly performance, the company raised its 2023 annual earnings forecast before items including derivative gains by $200 million to a midpoint of $8.5 billion.

The post Cheniere Energy Reports Record Profit Despite Natural Gas Price Fall appeared first on theprimarymarket.com.

This decline is expected to be a result of milder weather forecasts than is typically expected. This fall in demand, along with an increasing proportion of electricity generation from cheaper renewable energy sources and falling natural gas prices, is set to lower wholesale energy prices this year, the EIA observed.

According to the EIA’s report, electricity demand is expected to fall from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022 to 4,000 billion kilowatt-hours (kWh) in 2023. The EIA expects, however, that power demand will recover in 2024, rising to a new historic high of 4,062 billion kWh in 2024 as the U.S. economic recovery gets underway.

With the United States’ capacity for power generation from renewable sources such as solar and wind on the rise, the EIA expects coal-fired power generation to fall to less than 17% in the spring of 2023.

The post Power Demand Expected to Slide By 1% In 2023 appeared first on theprimarymarket.com.

These high levels of gas flow come after Freeport LNG’s plant in Texas reopened in February after remaining closed for eight months. The facility was temporarily shut in June 2022 following the outbreak of a fire.

Front-month gas futures for May delivery listed on the New York Mercantile Exchange advanced by 3 cents, or 1.4%, to $2.127 per million British thermal units during Tuesday’s morning session. This comes after a particularly volatile period of trading, with the front-month gaining rising or falling by 5% or more in 12 of the past 22 days of trading.

Data provider Refinitiv reported that Freeport LNG’s Texas facility was set to pull in about 2.2 billion cubic feet per day (bcfd) of gas on Tuesday, down from the 2.3 bcfd pulled in on Monday.

The seven major U.S. LNG export plants posted average gas flows of 4.1 bcfd so far in April; a rise from the record 13.2 bcfd in March.

The post U.S. Natural Gas Futures Rise as Gas Flow to LNG Plants Remain At Record Highs appeared first on theprimarymarket.com.

Front-month gas futures for April delivery were up 6.2 cents, or 2.9%, to $2.216 per million British thermal units (mmBtu). This contract remains 5% lower for the week, marking its third weekly loss in a row since early February. On February 21, frotn-month gas futures for April delivery closed at a 29-month low of $2.073 mmBtu.

Friday’s recovery coincides with expectations that the gas flow to liquified natural gas (LNG) export plants would hit a record high following the reopening of the Freeport LNG plant in Texas following an eight-month halt in operations.

Refinitiv data showed that Freeport LNG’s export plant was on track to pull in about 1.6 billion cubic feet per day (bcfd) of gas on Friday; a rise from the 1.5 bcfd on Thursday. Freeport warned, however, that gas flows may rise and fall at a turbulent pace as the plant seeks to restore itself to full service following its extended suspension of activities.

The post Natural Gas Futures Up Amid Colder Weather Forecasts appeared first on theprimarymarket.com.

Investors are awaiting the release of a federal report that is expected to show that last week’s storage withdrawal was lower than usual for this time of year due to mild weather keeping heating demands low. In addition, prices were on the rise as Freeport LNG’s export plant in Texas upped the volume of gas flowing through the facility, thereby reversing last week’s decline.

While pulling in just 0.2 billion cubic feet per day on Tuesday, Freeport LNG’s Texas plant was on track to pull in 0.8 billion cubic feet per day (bcfd) of gas on Wednesday and Thursday. The plant returned to operation in February after a fire had caused a hiatus since June 2022.

Front-month gas futures for April delivery rose 6.3 cents, or 2.5%, to $2.614 per million British thermal units on Thursday morning. This is a sharp u-turn from the 5% decline that was incurred on Wednesday, sending the futures to their lowest point since February 24.

The post Natural Gas Futures Rise Following Colder Weather Forecasts appeared first on theprimarymarket.com.

Front-month gas futures for April delivery were up 6.9 cents, or 2.5%, to $2.834 per million British thermal units. This puts it on track to achieving its highest weekly close since January 27. The latest movements put front-month gas up 16% for the week, which would be its largest weekly gain since July last year.

Gas flows have been on the rise since Freeport LNG’s facility in Texas resumed activity in February after an eight-month hiatus stemming back to a fire in June 2022. According to data provided by Refinitiv, Freeport LNG’s export plant is set to pull in about 1.4 billion cubic feet per day (bcfd) of gas on Friday; an increase of 1.2bcfd from Thursday.

When operating at full capacity, Freeport LNG is capable of processing 2.1 bcfd of gas into LNG for export.

The post U.S. Natural Gas Rises to 5-Week High appeared first on theprimarymarket.com.