EUROPE GAS-European Gas Prices Fall on Stable Supply and Low Demand
Dutch and British wholesale prices of gas ticked down on Monday morning due to a steady supply and mild weather with windy conditions that limited demand. However, fresh sanctions related to Russia remain a downside risk. LSEG data shows that the benchmark Dutch front-month contract was 32.19 euros per Megawatt Hour (MWh) or $11.07/mmBtu at 0843 GMT. This is a decrease of 0.46 Euro.
GASTECH-China-Russia pipeline plans do not affect Asian demand for US LNG, according to Venture Global CEO
According to Michael Sabel of Venture Global LNG (the second largest U.S. LNG exporter), recent gas agreements between China, Russia and other countries are unlikely to affect Asian demand for U.S. LNG. China, which is the largest LNG importer in the world, signed agreements on September 2 for a boost of gas supply via the existing Power of Siberia pipe and to build Power of Siberia 2.
Prices for EUROPE GAS rise due to higher demand and lower LNG exports
Dutch and British wholesale gas rates rose slightly Monday morning due to higher demand and lower LNG terminal send-out. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub increased by 0.27 euros, to 32.35 Euro per megawatt hour at 0827 GMT. The contract for November was up by 0.28 euros at 33.18 euro/MWh.
EUROPE GAS-Prices Firm on Technical Support, Lower Wind
Dutch and British wholesale prices of gas rose on Monday morning due to technical trading and lower renewable energy output. LSEG data revealed that the benchmark Dutch front-month contracts - now for October – at the TTF hub were up 0.34 Euros at 32.00 Euros per megawatt-hour (MWh) or $11.00/mmBtu by 0842 GMT. The contract for November increased by 0.66 euros to 33.08 euro/MWh.
Exxon expects a surge in natural gas demand by 2050
Exxon Mobil's annual outlook said that global demand for natural gases will increase by more than 20 percent from its level last year in 2050, as the gas replaces coal in powering industries and meeting higher electricity needs in developing countries. These projections form the basis of the long-term investment and strategy for the largest U.S. oil company.
Prices for Europe Gas are little changed due to low demand and Norwegian gas outages
The Dutch and British wholesale prices of gas were not much different early Wednesday, as wind power production limited demand and offset lower supplies from Norway. LSEG data shows that the benchmark Dutch front-month contract was 33.17 euros per Megawatt Hour, or $11.27/mmBtu at 0820 GMT. This is a decrease of 0.08 Euro.
PetroChina's H1 profits down 5.4% from the previous record
PetroChina, China's largest gas and oil company, reported a 5.4% drop in its first-half net profit compared to a record set a year ago, due to lower oil prices. According to a filing at the Hong Kong Stock Exchange, the net profit was 84 billion Yuan ($11.7billion), down from the 88.8billion yuan of the same period in last year. Revenues fell 6.7%, to 1.45trillion yuan.
Increasing US LNG Exports to Catalyze Shale Production Growth
U.S. liquefied natural gas exports will soar by roughly 10% a year through 2030 as energy firms double their LNG production capacity, according to analysts, providing a shot in the arm to the country's maturing shale industry which has seen growth slow and costs rise.The U.S. is the world's largest oil and natural gas producer, but many of its best drilling locations have been tapped.
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry…
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry…
US Natural Gas Prices Drop 4% on Record Output
U.S. natural gas futures fell about 4% to a nine-month low on Tuesday on near-record output, ample fuel in stockpiles and forecasts for less hot weather and lower demand through early September than previously expected.Another factor weighing on gas prices was a decline in the amount of gas flowing to liquefied natural…
US Natural Gas Prices Drop 3% Ahead of Cooler Weather Forecasts
U.S. natural gas futures fell about 3% on Monday on near-record output, ample fuel in stockpiles and forecasts for less hot weather next week than previously expected.Front-month gas futures for September delivery on the New York Mercantile Exchange fell 9.5 cents, or 3.3%, to $2.821 per million British thermal units by 5:53 a.m. EDT (0953 GMT).The U.S.
US Natgas Prices Rise on Increasing Demand
U.S. natural gas futures edged up about 1% on Wednesday after dropping to an eight-month low in the prior session on forecasts for more demand over the next two weeks than previously expected and near-record gas flows to liquefied natural gas (LNG) export plants.That small price increase came despite near-record output…
Asian Spot LNG Prices Decline, Weak Demand Amidst Sanctions
Asian spot liquefied natural gas (LNG) prices declined this week due to weak demand and as markets awaited further clarity on U.S. Russian energy sanctions or secondary tariffs.The average LNG price for September delivery into north-east Asia LNG-AS was at $11.90 per million British thermal units (mmBtu), down from $12.10/mmBtu last week…
Prices of EUROPE GAS trade at a sideways level as the market waits for clarity on sanctions
The wholesale gas prices in the Netherlands and Britain were not much different on Friday morning, as the market awaited news about whether the U.S. would impose new sanctions against Russia. LSEG data shows that the benchmark Dutch front-month contract was 32.92 euros per Megawatt Hour (MWh), or $11.20/mmBtu at 0728 GMT. This is a decrease of 0.11 Euro.
Shale producer Diamondback misses profit estimate, cuts capex forecast
Diamondback Energy's second-quarter profits missed analyst expectations due to lower crude oil costs. The shale producer also lowered its full-year capital expenditure forecast. In extended trading, shares of the company dropped 2.7% on Monday. Since the last close, they are down by nearly 11%. Diamondback has cut its capital budget for the current year by 200 million dollars…
TC Energy increases its core profit forecast for the full year on natural gas and electricity demand
TC Energy, a Canadian pipeline operator, raised its core earnings forecast for the full year adjusted on Thursday due to increased demand for natural gas and electricity and its North America operations. TC Energy announced in May that it expects a surge in capital projects to be announced later this year or in the following years…
US Natural Gas Prices Rise to Two-Week High Amidst Hot Weather
U.S. natural gas futures edged up about 1% to a two-week high on Wednesday as hot weather boosts the amount of gas power generators must burn to keep air conditioners humming and on near-record flows of gas to LNG export plants.Front-month gas futures for August delivery on the New York Mercantile Exchange rose 2.8 cents…
Canada's New LNG Exports Have Yet to Lift Gas Prices
Last month's start-up of LNG Canada, the country's first large-scale liquefied natural gas export facility, has failed to lift Western Canadian natural gas prices as quickly as some market participants and observers expected, due to a persistent supply glut and the gradual pace of the facility's ramp-up.Shell-led Canada shipped its first cargo of 70…
The price of gas in Europe is rising on a slight increase in demand
The Dutch and British wholesale prices of gas rose slightly on Tuesday morning, due to a slight increase in demand. However, the supply remains stable. They continue to trade within a narrow range. According to LSEG, the benchmark Dutch contract for August deliveries at TTF hub increased by 0.09 euros to 33.20 Euro per megawatt-hour (MWh) as of 0911 GMT.