September 12, 2023
September 2023 - Energy News
As temperatures begin to drop, we look ahead to the winter heating season which typically begins next month. Although prices have remained steady throughout this summer, they’ve been below the producer’s expectations. This has caused a significant decrease in rig count to help bring pricing in line.
Domestic Demand
Domestic demand fell last week to an average of 98.7 billion cubic feet (Bcf) per day due to cooling temperatures for most of the United States. Much of this decline was attributed to a 7.1 percent decrease in natural gas use for power generation as more Americans are getting a break from one of the hottest summers on record.
International Demand
Chinese companies have been signing more long-term agreements to buy liquefied natural gas (LNG) in the past year and a half, especially from the United States and Qatar, to help reach their clean energy goals and demand for natural gas. At the beginning of 2021, China made 14 long-term deals to purchase LNG from the United States, totaling 34 million tons (Mt). These agreements with the United States make up nearly half of all the LNG contracts Chinese companies signed during this time.
Production & Supply
As of September, there are 3,148 billion cubic feet (Bcf) of gas in storage, marking a 17.2 percent increase compared to last year and a 7.9 percent rise above the five-year average. Although we are in a significantly improved situation compared to last year, we should also consider that producers are still reducing production to help bring prices back in line with a recent 29.6 percent cut in natural gas rigs compared to the previous year.
Market Data:
September 12, 2023
September 12, 2023
September 2023 - Energy News
As temperatures begin to drop, we look ahead to the winter heating season which typically begins next month. Although prices have remained steady throughout this summer, they’ve been below the producer’s expectations. This has caused a significant decrease in rig count to help bring pricing in line.
Domestic Demand
Domestic demand fell last week to an average of 98.7 billion cubic feet (Bcf) per day due to cooling temperatures for most of the United States. Much of this decline was attributed to a 7.1 percent decrease in natural gas use for power generation as more Americans are getting a break from one of the hottest summers on record.
International Demand
Chinese companies have been signing more long-term agreements to buy liquefied natural gas (LNG) in the past year and a half, especially from the United States and Qatar, to help reach their clean energy goals and demand for natural gas. At the beginning of 2021, China made 14 long-term deals to purchase LNG from the United States, totaling 34 million tons (Mt). These agreements with the United States make up nearly half of all the LNG contracts Chinese companies signed during this time.
Production & Supply
As of September, there are 3,148 billion cubic feet (Bcf) of gas in storage, marking a 17.2 percent increase compared to last year and a 7.9 percent rise above the five-year average. Although we are in a significantly improved situation compared to last year, we should also consider that producers are still reducing production to help bring prices back in line with a recent 29.6 percent cut in natural gas rigs compared to the previous year.
September 12, 2023
September 2023 - Energy News
As temperatures begin to drop, we look ahead to the winter heating season which typically begins next month. Although prices have remained steady throughout this summer, they’ve been below the producer’s expectations. This has caused a significant decrease in rig count to help bring pricing in line.
Domestic Demand
Domestic demand fell last week to an average of 98.7 billion cubic feet (Bcf) per day due to cooling temperatures for most of the United States. Much of this decline was attributed to a 7.1 percent decrease in natural gas use for power generation as more Americans are getting a break from one of the hottest summers on record.
International Demand
Chinese companies have been signing more long-term agreements to buy liquefied natural gas (LNG) in the past year and a half, especially from the United States and Qatar, to help reach their clean energy goals and demand for natural gas. At the beginning of 2021, China made 14 long-term deals to purchase LNG from the United States, totaling 34 million tons (Mt). These agreements with the United States make up nearly half of all the LNG contracts Chinese companies signed during this time.
Production & Supply
As of September, there are 3,148 billion cubic feet (Bcf) of gas in storage, marking a 17.2 percent increase compared to last year and a 7.9 percent rise above the five-year average. Although we are in a significantly improved situation compared to last year, we should also consider that producers are still reducing production to help bring prices back in line with a recent 29.6 percent cut in natural gas rigs compared to the previous year.
September 12, 2023
September 2023 - Energy News
As temperatures begin to drop, we look ahead to the winter heating season which typically begins next month. Although prices have remained steady throughout this summer, they’ve been below the producer’s expectations. This has caused a significant decrease in rig count to help bring pricing in line.
Domestic Demand
Domestic demand fell last week to an average of 98.7 billion cubic feet (Bcf) per day due to cooling temperatures for most of the United States. Much of this decline was attributed to a 7.1 percent decrease in natural gas use for power generation as more Americans are getting a break from one of the hottest summers on record.
International Demand
Chinese companies have been signing more long-term agreements to buy liquefied natural gas (LNG) in the past year and a half, especially from the United States and Qatar, to help reach their clean energy goals and demand for natural gas. At the beginning of 2021, China made 14 long-term deals to purchase LNG from the United States, totaling 34 million tons (Mt). These agreements with the United States make up nearly half of all the LNG contracts Chinese companies signed during this time.
Production & Supply
As of September, there are 3,148 billion cubic feet (Bcf) of gas in storage, marking a 17.2 percent increase compared to last year and a 7.9 percent rise above the five-year average. Although we are in a significantly improved situation compared to last year, we should also consider that producers are still reducing production to help bring prices back in line with a recent 29.6 percent cut in natural gas rigs compared to the previous year.
September 12, 2023
September 2023 - Energy News
As temperatures begin to drop, we look ahead to the winter heating season which typically begins next month. Although prices have remained steady throughout this summer, they’ve been below the producer’s expectations. This has caused a significant decrease in rig count to help bring pricing in line.
Domestic Demand
Domestic demand fell last week to an average of 98.7 billion cubic feet (Bcf) per day due to cooling temperatures for most of the United States. Much of this decline was attributed to a 7.1 percent decrease in natural gas use for power generation as more Americans are getting a break from one of the hottest summers on record.
International Demand
Chinese companies have been signing more long-term agreements to buy liquefied natural gas (LNG) in the past year and a half, especially from the United States and Qatar, to help reach their clean energy goals and demand for natural gas. At the beginning of 2021, China made 14 long-term deals to purchase LNG from the United States, totaling 34 million tons (Mt). These agreements with the United States make up nearly half of all the LNG contracts Chinese companies signed during this time.
Production & Supply
As of September, there are 3,148 billion cubic feet (Bcf) of gas in storage, marking a 17.2 percent increase compared to last year and a 7.9 percent rise above the five-year average. Although we are in a significantly improved situation compared to last year, we should also consider that producers are still reducing production to help bring prices back in line with a recent 29.6 percent cut in natural gas rigs compared to the previous year.
September 12, 2023
September 2023 - Energy News
As temperatures begin to drop, we look ahead to the winter heating season which typically begins next month. Although prices have remained steady throughout this summer, they’ve been below the producer’s expectations. This has caused a significant decrease in rig count to help bring pricing in line.
Domestic Demand
Domestic demand fell last week to an average of 98.7 billion cubic feet (Bcf) per day due to cooling temperatures for most of the United States. Much of this decline was attributed to a 7.1 percent decrease in natural gas use for power generation as more Americans are getting a break from one of the hottest summers on record.
International Demand
Chinese companies have been signing more long-term agreements to buy liquefied natural gas (LNG) in the past year and a half, especially from the United States and Qatar, to help reach their clean energy goals and demand for natural gas. At the beginning of 2021, China made 14 long-term deals to purchase LNG from the United States, totaling 34 million tons (Mt). These agreements with the United States make up nearly half of all the LNG contracts Chinese companies signed during this time.
Production & Supply
As of September, there are 3,148 billion cubic feet (Bcf) of gas in storage, marking a 17.2 percent increase compared to last year and a 7.9 percent rise above the five-year average. Although we are in a significantly improved situation compared to last year, we should also consider that producers are still reducing production to help bring prices back in line with a recent 29.6 percent cut in natural gas rigs compared to the previous year.
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