Мобильный 1 Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021
News Every Day |

Natural gas prices still have room to run

Natural gas prices still have room to run

US natural gas prices have more than doubled since last year’s pandemic-induced slump. Prices surged in the second quarter of 2021 by 40 percent, registering the largest quarterly rise since the second quarter of 2016.

The US benchmark natural gas price at the Henry Hub has traded above $3.60 per million British thermal units (MMBtu) so far in July. Extreme heat, rising liquefied natural gas (LNG) exports, and lower than usual gas stocks in storage continue to support prices at the start of the third quarter.  

Going forward, analysts expect higher volatility in prices as weather models and anticipated heat waves will be one of the key factors in determining price actions. Natural gas consumption in US electricity generation, however, is set to decline this year because of the much higher prices, which make coal more competitive. Coal-fired power generation is set for a short-term recovery this summer as higher prices of coal’s main fossil fuel competitor, natural gas, will discourage parts of gas-fired electricity generation.

Also on rt.com
© Global Look Press/Jim West
The future of US liquefied natural gas hangs in the balance

Still, natural gas prices are currently at their highest since the middle of December 2018, driven by record US LNG exports, low domestic stock levels, and extreme weather both in the past winter and this summer. 

Amid all this, natural gas production in the United States has stayed relatively flat in recent months, due to lower production of associated gas from oil-directed rigs. 

Natural gas prices are expected to stay above $3/MMBtu in the coming two quarters. Downward pressure will likely emerge next year because of an expected rise in US natural gas production and a slowdown in export growth, the Energy Information Administration (EIA) said in its Short-Term Energy Outlook for July published this week.  

Last week, US natural gas prices jumped amid a tight natural gas market and expectations of high demand for electricity in hotter than usual weather in many parts of the United States. The Henry Hub rally as a heatwave gripped the Pacific Northwest resulted in the highest price for the prompt futures in more than two years. 

Expectations of cooler weather this week have weighed on natural gas futures, but the weekly natural gas inventory report from EIA was constructive and sent prices higher on Thursday. 

Read more
Pipe-laying vessel "Fortuna" in the port of the German city of Wismar. © Sputnik / Dmitri Lelchuk
Germany may tax American gas imports in response to US sanctions against Nord Stream 2 pipeline

The net injections into storage totaled 16 billion cubic feet (Bcf) for the week ending July 2, below the median analyst estimate of 27 Bcf and well below the five-year average net injections of 63 Bcf, the EIA said

This week last year net injections into storage stood at 57 Bcf. As of July 2, working natural gas stocks totaled 2,574 Bcf, which is 190 Bcf lower than the five-year average and 551 Bcf lower than last year at this time.

The average rate of injections into storage so far in the refill season April-October is also lower, by 17%, compared to the five-year average. 

For the whole refill season, the EIA sees injections 5% below the five-year average rate because record exports are set to outpace increase in natural gas production.

Rising natural gas demand outside the power sector and higher exports resulted in an average Henry Hub spot price of $3.25/MMBtu in the first half of 2021, also because of the brief spike in prices to $5.35/MMBtu during the Texas Freeze in February.

The Henry Hub spot price is set to drop from recent highs, the EIA forecasts in its July STEO. The average price for the third quarter is expected at $3.22/MMBtu, which will also be the average price for all of 2021, as per EIA’s latest estimates.

However, prices are expected to stay above $3.00/MMBtu for the rest of 2021, “driven by continuing record natural gas exports and rising demand for natural gas outside of the electric power sector amid relatively flat natural gas production.” 

Next year, downward pressure from higher production and slowing export growth would lead to average Henry Hub spot price of $3.00/MMBtu in 2022, the EIA reckons.  

This article was originally published on Oilprice.com

Read also

Russell Westbrook was reportedly ‘Plan B’ for Lakers in offseason

Devastated dad of baby stabbed to death says he is ‘truly heartbroken’ over tot’s brutal ‘murder’

Super tiny but there are bumps

Слот 7

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

Hop Little Bunnies Hop Hop Hop Toddlers Songs LooLoo Kids Nursery Rhymes

Today24.pro — latest news 24/7. You can add your news instantly now — here


Авто

Поставили гусеничный экскаватор UMG E220C в Ростовскую область




Новости России
Game News

9 Лучших Вещей Которые Нужно Делать Перед Тренировкой


Russian.city


Дешевые путешествия и перерасчет пенсий: что изменится в жизни россиян в августе


Губернаторы России
Игорь Маковский

Игорь Маковский принял защиту курсовых работ первого потока специалистов «Россети Центр» и «Россети Центр и Приволжье» по направлению «Инженер по знаниям»


Politiсо: аналитики НАТО начали «войну» из-за России

Почти 10 тыс. новых случаев COVID-19 зафиксировали в России за сутки

Культуру вождения в Нижнем Новгороде оценили на 3,2 балла

Всероссийский турнир по боксу на Кубок командующего ВДВ прошёл в Пскове


Земфира без анонса выпустила новый альбом

«Прогнили до корней»: дочка Юлии Началовой вступилась за внучку Долиной

Решетова заявила, что Тимати не выселяет их с сыном из квартиры

Певица Ольга Орлова объяснила, почему Дмитрий Шепелев вычеркнул ее из своей жизни


Скачков не пробился в 1/8 финала олимпийского турнира по настольному теннису

Россиянка Носкова в упорной борьбе уступила во втором раунде Олимпиады

Кирилл Скачков выиграл первый матч олимпийского турнира по настольному теннису

Коу Лей вышел во второй круг олимпийского турнира по настольному теннису




В Москве начались продажи Audi RS 6 Avant

Менеджер МакSим сообщила об изменении самочувствия певицы

Новые туры и круизы на поездах. В России развивают железнодорожный туризм

Онлайн-платформа расскажет «Достоверно о здоровье» 


Эффективная помощь после COVID-19: восстановить баланс ресурсов с Digital Meal Original

Торги Мосбиржи открылись ростом курса доллара

Ресторанам в Москве порекомендовали закрыть веранды из-за ветра и дождя

Кандидат в канцлеры Германии под угрозой: виновата Россия



Путин в России и мире







Персональные новости
Moscow.media