The shale revolution in the U.S. has led to a boom in domestic natural gas production, to the point that America is expected to become a net exporter of natural gas on an average annual basis by 2018. Abundant gas at home has also led to a renaissance in the petrochemical industry in the U.S., which had suffered a downturn in 2008 and 2009. But then came the shale revolution, and chemical companies in the U.S. now use the affordable ethane—a natural gas liquid derived from shale gas—as a feedstock. Abundant and cheap, shale gas and ethane are now feeding the next U.S. chemical revolution, with 294 new projects in the chemical industry—due to shale gas—that were completed, started, or planned as of March 2017, according to the American Chemistry Council (ACC).
Read: http://oilprice.com/Energy/Natural-Gas/ ... sance.html
Demand for natural gas and NGLs is growing
Demand for natural gas and NGLs is growing
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Demand for natural gas and NGLs is growing
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months. Exports from the United States would help reduce their dependence on Russia. Trump will tell the group that Washington wants to help allies by making it as easy as possible for U.S. companies to ship more liquefied natural gas (LNG) to central and eastern Europe, the White House said. Trump will attend the "Three Seas" summit so named because several of its members surround the Adriatic, Baltic and Black Seas. Among the aims of the Three Seas project is to expand regional energy infrastructure, including LNG import terminals and gas pipelines. Members of the initiative include Poland, Austria, Hungary and Russia's neighbors Latvia and Estonia.
Read: https://www.nytimes.com/reuters/2017/07 ... p-lng.html
Read: https://www.nytimes.com/reuters/2017/07 ... p-lng.html
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Demand for natural gas and NGLs is growing
FWIW:
U.S. gas plunges as temps seen mostly normal in eastern third of U.S.
Jul. 5, 2017 7:12 PM ET|By: Carl Surran, SA News Editor
U.S. natural gas sold off along with crude oil today, tumbling 3.8% to settle at $2.849/MMBtu on forecasts for mild weather.
Temperatures look like they will be mostly normal in eastern third of U.S. during July 15-19, according to MDA Weather Services, as several weeks' speculation that a hot summer would send nat gas prices soaring has failed to materialize.
“If the heat is gonna come, it better get coming in July,” a senior market analyst at Price Futures Group tells Bloomberg. “If the summer is not that hot, I think you’re going to see downward pressure on prices.”
Stockpiles remain above normal for the time of year, and production is recovering from last year’s drop.
U.S. gas plunges as temps seen mostly normal in eastern third of U.S.
Jul. 5, 2017 7:12 PM ET|By: Carl Surran, SA News Editor
U.S. natural gas sold off along with crude oil today, tumbling 3.8% to settle at $2.849/MMBtu on forecasts for mild weather.
Temperatures look like they will be mostly normal in eastern third of U.S. during July 15-19, according to MDA Weather Services, as several weeks' speculation that a hot summer would send nat gas prices soaring has failed to materialize.
“If the heat is gonna come, it better get coming in July,” a senior market analyst at Price Futures Group tells Bloomberg. “If the summer is not that hot, I think you’re going to see downward pressure on prices.”
Stockpiles remain above normal for the time of year, and production is recovering from last year’s drop.