The U.S. Energy Information Administration pegged the total amount of working natural gas in storage for the Lower 48 states at 3.92 Tcf as of October 31st, the traditional end of the injection season. This figure was slightly below the record-high value of 4.047 Tcf which was reached in November 2016. Net injections total 1.914…
With a La Nina climate pattern expected to linger through this upcoming winter, NOAA anticipates a typical cooler/wetter North and a warmer/drier South. Most below-normal temperatures are favored in the Pacific Northwest into the Northern Plains. Michigan has an equal chance of below, near, or above-average temperatures. The Midwest, particularly the Great Lakes into the…
Three-Month Temperature Outlook (November-December-January 2020-21) Three-Month Precipitation Outlook (November-December-January 2020-21)
According to the U.S. Energy Information Administration’s monthly report, consumption of natural gas in the U.S. industrial sector declined from 25.4 billion cubic feet per day (Bcf/d) in January 2020 to a 20.1 Bcf/d average in June 2020. Overall, industrial consumption in June was down 1 Bcf/d from the same month last year. Most of…
Natural gas consumed by electric power plants set a record high of 46.7 billion cubic feet on Monday, July 27th according to data from S&P Global Platts. That same day natural gas-fired capacity reached an all-time high (dispatch level) of 315,989 megawatts in the late afternoon. The new record can be attributed to low natural…
The U.S. Energy Information Administration reported that natural gas-fired power generation in the Lower 48 states was 9% higher in the first half of 2020 compared to 2019. The uptick can be attributed to the recent price fallout and natural gas-fired capacity additions. Overall electricity generation was down 5% in the first half of 2020…
The U.S. Energy Information Administration (EIA) reported that underground natural gas storage capacity for the Lower 48 states has remained relatively unchanged in 2019. Design capacity, which is the engineering estimates, has held consistent near 4.6 Tcf. Demonstrated peak capacity which is calculated as the total of the highest storage levels reached by each storage…
In the U.S. Energy Information Administration’s (EIA) most recent Short-Term Energy Outlook, they forecast a decrease in natural gas consumption during 2020 led by declines in the industrial, commercial, and residential sectors. Demand from the electric power sector is expected to increase during the first half of the year but will likely fall back near…
NOAA’s three-month temperature outlook (May, June, July 2020) points to a high probability of above-average temperatures for the majority of the contiguous United States with near-normal temperatures expected in only parts of the Midwest. The East, South, and West coasts all have the highest probability of seeing these above-average temperatures. No part of the country…
On January 24th the prompt (Feb20) NYMEX natural gas futures contract settled at $1.893/MMBtu which was the lowest January closing price for the near-month contract since January 1999 and also the lowest near-month settle since March 2016. After the second warmest January since 2000, working gas in underground storage surged to a 199 Bcf surplus…