US net gas futures jumped 8% on LNG and power consumption

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The U.S. natural gas futures power jumped nearly 8% on Monday to reach a 13-year high

Generators and liquefied natural gas (LNG) exporters consume more plant fuel.

Electricity and gas prices rose last week as homes and businesses cranked their air conditioners to escape.

A spring heatwave. To keep the lights on, the generators burn more gas to generate electricity.

In addition, there is usually less air when it is extremely hot. This means the generator even needs to burn

More gas for lost wind energy. Wind generated about 12% of the country’s electricity last week, less

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From 16% in recent weeks, while gas has produced about 37%, from only 33% in recent weeks.

US front-month gas futures for June delivery rose 66.1 cents, or 8.2%, to settle at $ 8.744.

Million British thermal units (mmBtu), the highest since the May 5 13-year high of $ 8.783.

With Monday’s gains, U.S. gas futures have risen nearly 135% since the beginning of the year

Prices have kept US LNG exports strong since Russia’s invasion of Ukraine on February 24.

Gas traded at around ৭ 28 per MMBTU in Europe and ২ 22 in Asia.

US futures lag far behind global prices because the United States is the world’s top producer, with everything

Capacity constraints hinder LNG exports Gas required for domestic use.

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Data provider Refinitive says average gas production in the U.S.’s lowest 48 states has risen to 95.0 billion cubic meters.

Ft per day (bcfd) so far from 94.5 bcfd in May to April. This compares with the monthly record of 96.1 bcfd

November 2021.

Refinitive estimates that average U.S. gas demand, including exports, will decline to 89.4 bcfd this week.

88.0 bcfd next week. Those forecasts were lower than Friday’s refinancing forecast.

The average volume of gas flowing to US LNG export centers has risen from 12.2 BCFD to 12.4 BCF in May so far.

Bcfd in April. It hit a monthly record of 12.9 bcfd in March. The United States could launch about 13.2 BCFDs

Gas in LNG.

On a daily basis, LNG FeedGas was on track to reach a seven-week high of 13.3 bcfd on Monday.

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Since the United States will not be able to produce more LNG any time soon, it has worked with allies to divert it.

Exports to Europe from elsewhere to help European countries (EU) break their dependence on countries and others

Russian gas after Russia’s invasion of Ukraine.

Russia exported about 7.4 bcfd of gas to Europe on Sunday, down from about 7.5 on Saturday, in three

Main lines in Germany: North Stream 1 (Russia-Germany), Yamal (Russia-Belarus-Poland-Germany) and

Russia-Ukraine-Slovakia-Czech Republic-Germany route. This compares with an average of 11.9 bcfd in May 2021.

Northwestern Europe – Belgium, France, Germany and the Netherlands had gas reserves.

The five-year (2017-2021) average for this time of year is about 11% lower, down from 39% five years ago

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Ideal in mid-March, according to Refinitive. Storage was currently about 39% of full capacity.

This is healthier than the U.S. inventory, which was about 15% lower than their five-year norm and helped

European futures fell to their lowest level since Monday 22 February – two days before Russia

Invades Ukraine

The last week of the week ended five years ago

May 20 May 13 May 20 average

(Forecast) (Actual) 20 May

US Weekly Natgas Storage Change (bcf): +95 +89 +109 +97

US total net gas in storage (bcf): 1,827 1,732 2,199 2,139

US Total Storage vs. 5 Year Average -14.6% -15.2%

Global Gas Benchmark Futures ($ per mmBtu) The day before the current day The year before this month Five years

Last year’s average

2021 (2017-2021)

Henry Hub 7.96 8.08 2.96 3.73 2.89

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Title Transfer Facility (TTF) 26.45 26.99 8.88 16.04 7.49

Japan Korea Marker (JKM) 21.83 21.79 9.65 18.00 8.95

Degree of Refinitive Heating (HDD), Cooling (CDD) and Total (TDD)

The two-week total forecast is 10-year 30-year, the year before the current day

Ideal norm

US GFS HDDs 31 36 34 31 38

US GFS CDDs 119 128 90 98 110

US GFS TDDs 150 164 124 129 148

Refinitiv US Weekly GFS supply and demand forecast

The current week of the previous week is five years old this week next week

For last year’s average

Months

US supply (bcfd)

US Lower 48 Dry Production 95.1 95.6 96.0 92.5 83.9

US imports from Canada 7.6 7.6 7.7 7.3 7.6

US LNG imports 0.0 0.0 0.0 0.0 0.1

Total US supply 102.7 103.2 103.7 99.8 92.6

US demand (bcfd)

U.S. exports to Canada 2.8 2.6 2.7 2.1 2.1

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U.S. exports to Mexico 6.1 6.0 6.1 6.2 4.8

US LNG Exports 12.2 13.2 12.9 10.5 5.1

US Commercial 5.0 5.1 4.7 5.0 5.6

US Resident 4.8 4.8 4.1 4.8 6.7

US Power Plant 31.4 30.1 30.2 27.6 26.0

US Industry 20.7 20.9 20.7 21.4 20.9

US Plant Fuels 4.7 4.7 4.7 4.7 4.6

US Pipe Distribution 1.8 1.8 1.8 1.8 1.8

US vehicle fuel 0.1 0.1 0.1 0.1 0.1

Total US Cost 68.5 67.6 66.3 65.4 65.7

Total US Demand 89.6 89.4 88.0 84.2 77.7

Percentage of US weekly energy production by energy – EIA

Last week last week last week last week last week last week

May 27 May 20 May 13 May 6 April 29

Air 12 12 15 13 16

Solar 4 4 4 4 4

Hydro 7 7 7 7 7

Others 2 2 2 2 2

Petroleum 0 0 0 0 0

Natural gas 36 36 34 36 33

Coal 20 20 18 19 19

Nuclear 19 19 19 20 19

SNL US natural gas next day price ($ per mmBtu)

The hub is the day before the present day

Henry Hubb 7.97 8.21

Transco Z6 New York 7.92 7.82

PG&E Citygate 9.55 9.78

Dominion South 7.43 7.62

Chicago Citygate 7.80 7.93

Algonquin Citygate 6.75 7.94

Sokal Citygate 7.78 8.19

Wow hub 7.25 7.33

AECO 4.61 4.58

SNL US Power Next-Day Price ($ per MW-hour)

Hub current day

New England 120.50 70.00

PJM West 116.75 153.50

Ercot answers 76.00 80.00

Middle C 25.00 18.25

Green stick 41.75 37.50

SP-15 43.50 51.25

(Reporting by Scott Disavino; Editing by David Gregorio and Nick Jiminski)