April 10, 2024
April 2024 – Energy News
As heating season ends and the U.S. moves into warmer months, the U.S. has a significant amount of natural gas in storage due to continued low demand.
Domestic Demand
The total demand for natural gas in the U.S. during the week of March 27th fell by 9.4 percent, equivalent to 8.2 Billion Cubic Feet Per day (Bcf/d). Notably, in the residential and commercial sectors, there was a substantial drop of 22.2 percent (7.0 Bcf/d) in natural gas consumption. Looking ahead, meteorologists anticipate a slight decrease in temperatures in mid-April, but this is expected to be short-lived as weather patterns return to normal.
International Demand
Since the announcement of the pause on Liquified Natural Gas (LNG) exports a few weeks ago, natural gas trade associations and LNG project developers have been considering turning to the courts or Congress for resolution. The U.S. Department of Energy (DOE) has firmly shut the door on reconsidering its halt on new export authorizations, denying two requests for rehearing on the matter submitted by a coalition including the American Petroleum Institute (API) and Commonwealth LNG LLC.
During the ongoing Ukraine conflict, Russia targeted a natural gas storage facility, but Naftogaz, Ukraine's state energy company, assures no supply disruptions. CEO Oleksiy Chernyshov says backup capacities ensure smooth gas provision to consumers. This attack is part of a series on energy infrastructure, leading to rolling blackouts. The assault on the storage site raises concerns in Europe, especially as the EU sent extra gas to Ukrainian facilities. Despite tensions, most of Ukraine's gas storage in the secure western region remains untouched by Russian forces, offering stability.
Production & Supply
Natural gas rigs in the U.S. remained unchanged from the previous week of March 20th, but they have seen a significant decline of 30 percent compared to the same period last year. This drop can be attributed to producers' ongoing cuts over the past few years aimed at aligning prices with production levels.
According to the U.S. Energy Information Administration (EIA), working gas in storage stood at 2,259 Bcf as of Friday, March 29. This marks a net decrease of 37 Bcf from the previous week of March 20th. Despite this decline, we remain at a historically high 38.9 percent (633 Bcf) above the five-year average.
If you have any questions about the information in this newsletter or would like to talk to someone about your natural gas, please call your sales representative.
Market Data:
April 10, 2024
April 10, 2024
April 2024 – Energy News
As heating season ends and the U.S. moves into warmer months, the U.S. has a significant amount of natural gas in storage due to continued low demand.
Domestic Demand
The total demand for natural gas in the U.S. during the week of March 27th fell by 9.4 percent, equivalent to 8.2 Billion Cubic Feet Per day (Bcf/d). Notably, in the residential and commercial sectors, there was a substantial drop of 22.2 percent (7.0 Bcf/d) in natural gas consumption. Looking ahead, meteorologists anticipate a slight decrease in temperatures in mid-April, but this is expected to be short-lived as weather patterns return to normal.
International Demand
Since the announcement of the pause on Liquified Natural Gas (LNG) exports a few weeks ago, natural gas trade associations and LNG project developers have been considering turning to the courts or Congress for resolution. The U.S. Department of Energy (DOE) has firmly shut the door on reconsidering its halt on new export authorizations, denying two requests for rehearing on the matter submitted by a coalition including the American Petroleum Institute (API) and Commonwealth LNG LLC.
During the ongoing Ukraine conflict, Russia targeted a natural gas storage facility, but Naftogaz, Ukraine's state energy company, assures no supply disruptions. CEO Oleksiy Chernyshov says backup capacities ensure smooth gas provision to consumers. This attack is part of a series on energy infrastructure, leading to rolling blackouts. The assault on the storage site raises concerns in Europe, especially as the EU sent extra gas to Ukrainian facilities. Despite tensions, most of Ukraine's gas storage in the secure western region remains untouched by Russian forces, offering stability.
Production & Supply
Natural gas rigs in the U.S. remained unchanged from the previous week of March 20th, but they have seen a significant decline of 30 percent compared to the same period last year. This drop can be attributed to producers' ongoing cuts over the past few years aimed at aligning prices with production levels.
According to the U.S. Energy Information Administration (EIA), working gas in storage stood at 2,259 Bcf as of Friday, March 29. This marks a net decrease of 37 Bcf from the previous week of March 20th. Despite this decline, we remain at a historically high 38.9 percent (633 Bcf) above the five-year average.
If you have any questions about the information in this newsletter or would like to talk to someone about your natural gas, please call your sales representative.
April 10, 2024
April 2024 – Energy News
As heating season ends and the U.S. moves into warmer months, the U.S. has a significant amount of natural gas in storage due to continued low demand.
Domestic Demand
The total demand for natural gas in the U.S. during the week of March 27th fell by 9.4 percent, equivalent to 8.2 Billion Cubic Feet Per day (Bcf/d). Notably, in the residential and commercial sectors, there was a substantial drop of 22.2 percent (7.0 Bcf/d) in natural gas consumption. Looking ahead, meteorologists anticipate a slight decrease in temperatures in mid-April, but this is expected to be short-lived as weather patterns return to normal.
International Demand
Since the announcement of the pause on Liquified Natural Gas (LNG) exports a few weeks ago, natural gas trade associations and LNG project developers have been considering turning to the courts or Congress for resolution. The U.S. Department of Energy (DOE) has firmly shut the door on reconsidering its halt on new export authorizations, denying two requests for rehearing on the matter submitted by a coalition including the American Petroleum Institute (API) and Commonwealth LNG LLC.
During the ongoing Ukraine conflict, Russia targeted a natural gas storage facility, but Naftogaz, Ukraine's state energy company, assures no supply disruptions. CEO Oleksiy Chernyshov says backup capacities ensure smooth gas provision to consumers. This attack is part of a series on energy infrastructure, leading to rolling blackouts. The assault on the storage site raises concerns in Europe, especially as the EU sent extra gas to Ukrainian facilities. Despite tensions, most of Ukraine's gas storage in the secure western region remains untouched by Russian forces, offering stability.
Production & Supply
Natural gas rigs in the U.S. remained unchanged from the previous week of March 20th, but they have seen a significant decline of 30 percent compared to the same period last year. This drop can be attributed to producers' ongoing cuts over the past few years aimed at aligning prices with production levels.
According to the U.S. Energy Information Administration (EIA), working gas in storage stood at 2,259 Bcf as of Friday, March 29. This marks a net decrease of 37 Bcf from the previous week of March 20th. Despite this decline, we remain at a historically high 38.9 percent (633 Bcf) above the five-year average.
If you have any questions about the information in this newsletter or would like to talk to someone about your natural gas, please call your sales representative.
April 10, 2024
April 2024 – Energy News
As heating season ends and the U.S. moves into warmer months, the U.S. has a significant amount of natural gas in storage due to continued low demand.
Domestic Demand
The total demand for natural gas in the U.S. during the week of March 27th fell by 9.4 percent, equivalent to 8.2 Billion Cubic Feet Per day (Bcf/d). Notably, in the residential and commercial sectors, there was a substantial drop of 22.2 percent (7.0 Bcf/d) in natural gas consumption. Looking ahead, meteorologists anticipate a slight decrease in temperatures in mid-April, but this is expected to be short-lived as weather patterns return to normal.
International Demand
Since the announcement of the pause on Liquified Natural Gas (LNG) exports a few weeks ago, natural gas trade associations and LNG project developers have been considering turning to the courts or Congress for resolution. The U.S. Department of Energy (DOE) has firmly shut the door on reconsidering its halt on new export authorizations, denying two requests for rehearing on the matter submitted by a coalition including the American Petroleum Institute (API) and Commonwealth LNG LLC.
During the ongoing Ukraine conflict, Russia targeted a natural gas storage facility, but Naftogaz, Ukraine's state energy company, assures no supply disruptions. CEO Oleksiy Chernyshov says backup capacities ensure smooth gas provision to consumers. This attack is part of a series on energy infrastructure, leading to rolling blackouts. The assault on the storage site raises concerns in Europe, especially as the EU sent extra gas to Ukrainian facilities. Despite tensions, most of Ukraine's gas storage in the secure western region remains untouched by Russian forces, offering stability.
Production & Supply
Natural gas rigs in the U.S. remained unchanged from the previous week of March 20th, but they have seen a significant decline of 30 percent compared to the same period last year. This drop can be attributed to producers' ongoing cuts over the past few years aimed at aligning prices with production levels.
According to the U.S. Energy Information Administration (EIA), working gas in storage stood at 2,259 Bcf as of Friday, March 29. This marks a net decrease of 37 Bcf from the previous week of March 20th. Despite this decline, we remain at a historically high 38.9 percent (633 Bcf) above the five-year average.
If you have any questions about the information in this newsletter or would like to talk to someone about your natural gas, please call your sales representative.
April 10, 2024
April 2024 – Energy News
As heating season ends and the U.S. moves into warmer months, the U.S. has a significant amount of natural gas in storage due to continued low demand.
Domestic Demand
The total demand for natural gas in the U.S. during the week of March 27th fell by 9.4 percent, equivalent to 8.2 Billion Cubic Feet Per day (Bcf/d). Notably, in the residential and commercial sectors, there was a substantial drop of 22.2 percent (7.0 Bcf/d) in natural gas consumption. Looking ahead, meteorologists anticipate a slight decrease in temperatures in mid-April, but this is expected to be short-lived as weather patterns return to normal.
International Demand
Since the announcement of the pause on Liquified Natural Gas (LNG) exports a few weeks ago, natural gas trade associations and LNG project developers have been considering turning to the courts or Congress for resolution. The U.S. Department of Energy (DOE) has firmly shut the door on reconsidering its halt on new export authorizations, denying two requests for rehearing on the matter submitted by a coalition including the American Petroleum Institute (API) and Commonwealth LNG LLC.
During the ongoing Ukraine conflict, Russia targeted a natural gas storage facility, but Naftogaz, Ukraine's state energy company, assures no supply disruptions. CEO Oleksiy Chernyshov says backup capacities ensure smooth gas provision to consumers. This attack is part of a series on energy infrastructure, leading to rolling blackouts. The assault on the storage site raises concerns in Europe, especially as the EU sent extra gas to Ukrainian facilities. Despite tensions, most of Ukraine's gas storage in the secure western region remains untouched by Russian forces, offering stability.
Production & Supply
Natural gas rigs in the U.S. remained unchanged from the previous week of March 20th, but they have seen a significant decline of 30 percent compared to the same period last year. This drop can be attributed to producers' ongoing cuts over the past few years aimed at aligning prices with production levels.
According to the U.S. Energy Information Administration (EIA), working gas in storage stood at 2,259 Bcf as of Friday, March 29. This marks a net decrease of 37 Bcf from the previous week of March 20th. Despite this decline, we remain at a historically high 38.9 percent (633 Bcf) above the five-year average.
If you have any questions about the information in this newsletter or would like to talk to someone about your natural gas, please call your sales representative.
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