December 12, 2022
December 2022 Energy News
The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.
Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.
International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.
To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.
Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.
Market Data:
December 12, 2022
December 12, 2022
December 2022 Energy News
The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.
Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.
International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.
To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.
Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.
December 12, 2022
December 2022 Energy News
The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.
Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.
International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.
To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.
Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.
December 12, 2022
December 2022 Energy News
The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.
Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.
International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.
To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.
Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.
December 12, 2022
December 2022 Energy News
The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.
Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.
International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.
To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.
Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.
December 12, 2022
December 2022 Energy News
The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.
Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.
International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.
To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.
Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.
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