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Posts Tagged ‘natural gas storage’

Potential for the Warmest Winter in 62 Years

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Lack of weather related demand this winter has driven the natural gas market toward 10-year lows and allowed inventory stockpile levels to reach all-time highs. 

Data from the Energy Information Administration (EIA) through the week ending January 27 reports that natural gas storage levels are at 2,966 Bcf, about 375 Bcf higher than the previous record high of 2,571 Bcf set in 2007 during the same week.  In addition, the surplus in storage levels to last year and the five-year average continues to expand as a result of 12% lower population-weighted heating degree days (HDD) versus the 30-year average. …
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NYMEX Natural Gas Has a Volatile Week: Production Cuts & Weather Forecasts

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On Jan. 23, the NYMEX February gas contract hit a 10-year low of $2.231/mmbtu, a price last seen in March 2002.  Monday began what turned out to be a volatile week as Chesapeake Energy (CHK), the second largest gas producer, announced revisions to their 2012 outlook with an immediate cut in gas production and the possibility of further cuts.  The announcement sent the NYMEX rallying 38 cents, or as much as 17% on Monday and further gains were made throughout the week.  On Thursday, the rally stalled as weather forecasts for February continued to come in warmer than normal, returning…
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Today’s Energy Environment

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Today’s energy environment is riddled with a number of significant factors that can affect your bottom line.  Sluggish economic activity, record high natural gas production, and the EPA Clean Air Act rulings are all influencing the world of energy, and ultimately you as a consumer.

Environmental Policy Changes:
New and pending governmental regulations will most likely be an additional contributing factor to prices in 2012 and beyond. One such factor is the Cross State Air Pollution Rule (CSAPR), which was released by the Environmental Protection Agency (EPA) on July 7, 2011. This rule requires 27 states to significantly reduce…
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The Impact of Our New All-Time Record for Natural Gas Storage

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Well, it happened. We have a new all-time record for natural gas storage.

With the release of the U.S. Energy Information Administration’s (EIA’s) natural gas storage report Thursday morning, total domestic natural gas inventories rose last week by 19 bcf to 3.85 trillion cubic feet (tcf). This is a new all-time record for natural gas storage, surpassing the previous record of 3.84 tcf set in November 2010. And as we look a little further into the future, chances are we’ll see two more records set this month as current weather forecasts suggest the mild start to winter will linger…
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Robust Natural Gas Injections Provide Seasonal Buying Opportunity

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On October 13, EIA reported that inventories of gas in underground storage for the week ending October 7increased 112 Bcf to 3,521 Bcf.  This injection of 112 Bcf was the largest on record for a week in October and the largest weekly injection since June 2009.   This current injection is the third week in a row where injections have surpassed year ago levels. 

As a result, the storage deficit to last year has narrowed and currently storage is 68 Bcf above the five year average. The robust pace of injections has been putting downward pressure on gas prices and has…
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Natural Gas Program Extended to June 17 for Small Business Owners & Residents in Aurora, OH

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Exciting news! Since nearly 1,000 small business owners, schools, churches and residents signed up for Constellation Energy’s two-year natural gas program in just a little more than a month, the City of Aurora has asked Constellation to extend the offer though June 17.

The City of Aurora named Constellation as the city’s new endorsed supplier through the May 2013 billing period.  The two-year program offers a fixed rate of $5.85 per Mcf of gas consumed through the Dominion East Ohio Gas November 2011 billing…
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