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2017-03-22 19:05:00

GAS PRICES: ABOVE $3,05

GAS PRICES: ABOVE $3,05

GAS PRICES MARCH 22 2017

PLATTS - The NYMEX April natural gas contract continued to march higher Tuesday, climbing 5.2 cents to settle at $3.093/MMBtu on a tightening supply-demand balance characterized by strong LNG feedgas deliveries, March demand above year-ago levels and a 2.8 Bcf/d year-on-year dip in production.

"Late season cold strengthened the heating demand and LNG exports revived," helping to provide support to a sustained recovery of the prompt-month contract throughout March, Viraj Sawant, energy market analyst with Gelber & Associates stated, echoing the tightening supply-demand balance.

Total US demand for March to date maintains a 5.5 Bcf/d margin above 2016 levels, reaching an average around 82.3 Bcf/d. Total US dry gas production has dipped 2.8 Bcf/d from a year ago to reach a March to date average of 70.8 Bcf/d, resulting in a tighter supply-demand balance.

LNG feedgas has been a key outlet for US natural gas production during an otherwise lackluster winter in the continental US, with feedgas to Sabine Pass reaching an average of 1.8 Bcf/d in 2017, topping out at a daily record of 2.4 Bcf/d on March 14.

As the market moves toward the final weeks of winter, storage inventories will weigh heavily on the movement of the prompt month as it becomes clearer the margin of overhang stocks will maintain going into injection season.

Preliminary projections for the two upcoming weeks show a combined 208-Bcf withdrawal from storage, possibly providing support to the bulls that storage inventories could trend closer to the five-year average and widen the gap with year-ago levels.

If projections come to fruition, the combined total would greatly outpace historical data, with the five-year averaging totaling a 48-Bcf withdrawal during the corresponding period, and year ago showing a 6-Bcf pull.

The April contract traded in a range of $3.033/MMBtu to $3.113/MMBtu, increasing the week's gains to 14.5 cents after Monday's 9.3-cent jump.

GAS PRICES MARCH 2016 - MARCH 2017

GAS PRICES MARCH 2012 - MARCH 2017

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Earlier: 

UK OIL & GAS BREXIT 

U.S. OIL & GAS UP 

GAS PRICES: ABOVE $2.9 

RUSSIA'S GAS FOR EUROPE 

U.S. LNG EXPORTS UP

 

 

Tags: GAS, PRICES

Chronicle:

GAS PRICES: ABOVE $3,05
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

GAS PRICES: ABOVE $3,05
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

GAS PRICES: ABOVE $3,05
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

GAS PRICES: ABOVE $3,05
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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