NATURAL GAS WELL POSITIONED FOR COMING WINTER, INDUSTRY GROUP SAYS
By Dan Dix On November 18, 2014 12:16 pm
HOUSTON — America’s Natural Gas Alliance, an industry group that represents producers, said that a large investment in infrastructure and a rapid buildup in inventories has made more natural gas available this winter than last, despite 2014’s cold winter that left storage of the fuel at decade-long lows.
Natural gas is a common fuel for both home heating and electricity generation, and is relied upon heavily as energy needs for both of those sectors rise during the winter months. Last winter, spot prices in several markets spiked as temperatures fell. This winter, said America’s Natural Gas Alliance President and CEO Marty Durbin, producers have been working hard to rebuild inventories and ensure a constant supply.
About $19 billion in investment in natural gas infrastructure came online in 2014 and has opened new routes for natural gas to flow to markets that need gas the most, according to ANGA figures. More than half of the that investment has been in infrastructure-constrained areas such as the Northeast, executives said.
Link to complete article: http://fuelfix.com/blog/2014/11/17/natural-gas-well-positioned-for-...
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Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on
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NYMEX Monthly Settlement Price for December - $4.282. Average monthly price for 2014 - $4.415. Best yearly month average price since 2008.
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Permalink Reply by tc on
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"producers have been working hard to rebuild inventories and ensure a constant supply" You can say that again. From below article:
The US added 2,789 bcf of natural gas to storage in the 2014 injection season. This is significantly higher than the 2,131 bcf injection last year, and also higher than the 2,034 bcf injection, which was the average for the corresponding weeks between 2009 and 2013.
When producers can increase yearly storage rate by 600 bcf in one season, it pretty much dooms NG to low average prices and shows that even massive LNG exports won't help prices climb very much from current levels as producers can increase production faster than we could ever hope to build LNG plants.
http://marketrealist.com/2014/11/analyzing-eias-latest-natural-gas-...
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Permalink Reply by Skip Peel - Mineral Consultant on
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NYNEX Natural Gas Futures contracts predict prices in the $3 to $4 range with a 2015 monthly average of ~$3.50, The good news is that prices are expected to stay above $3.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Average Annual Natural Gas Settlement Price By Year:
2006 $7.226
2007 $6.860
2008 $9.035
2009 $3.986
2010 $4.393
2011 $4.042
2012 $2.789
2013 $3.652
2014 $4.415
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