Natural gas demand up thanks to Gail - Dec 15
Natural gas demand up thanks to Gail - Dec 15
When the weather map looks like this https://weather.com/maps/ustemperaturemap a lot of natural gas is being draw from storage. Next week's weekly ngas storage report (for week ending December 18) should be the first triple digit draw from storage this winter.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Natural gas demand up thanks to Gail - Dec 15
PLUS: LNG prices skyrocket. Spot LNG prices in Asia – JKM – fell below $2/MMBtu earlier this year, but have recently spiked as demand picks up. Prices spiked above $12/MMBtu.
JKM - Japan & Korea Market, an area that is very dependent on imported natural gas.
Profit margins are now HUGE and likely to stay high all winter. Europe must raise its LNG price to compete for cargos.
U.S. LNG exports of 11 Bcfpd is way over forecast of just a few months ago, offsetting a high percentage of lower demand for space heating.
JKM - Japan & Korea Market, an area that is very dependent on imported natural gas.
Profit margins are now HUGE and likely to stay high all winter. Europe must raise its LNG price to compete for cargos.
U.S. LNG exports of 11 Bcfpd is way over forecast of just a few months ago, offsetting a high percentage of lower demand for space heating.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group