Posted on 03/24/2019 7:26:55 AM PDT by NorseViking
In good news for buyers but dismal news for producers and traders, both Asian spot liquefied natural gas (LNG) prices, as well as European spot prices, continue to crash. According to traders, prices for the super-cooled fuel for May delivery to Northeast Asia dipped this week by 80 cents to $4.65 per million British thermal units (MMBtu). This marks the lowest price point in three years. Reuters said it’s close to the lowest point in Refinitiv records going back to 2010 of $4.00/MMBtu, which was reached in April 2016. The price drop is the 13th consecutive decline for the fuel.
(Excerpt) Read more at oilprice.com ...
Not a problem. New York will buy it. They ran out of it. They can’t even use gas appliances in new construction.
Let’s thank Cuomo (D) for his campaign to ban fracking of the trillions of cubic feet of natural gas in New York shale deposits.
Sounds like these are regional market based on climate projections by localized area suppliers . Probably doesn’t affect US.
Nope. It’s the increasing availability of piped gas. The new GAZPROM pipeline to China recently came online.
Piped gas will always price 1/5th what LNG does.
Not that simple. Pipeline might cost up to $20 billion. Once it is online it beats LNG for sure. You still need to take back initial $20 billion.
I live in W PA, and my neighbor is a shift manager at a gas pipe manufacturer {it used to be USSteel, but is now independently owned}.
They are working 7/24 and hundreds of families are driving better cars {trucks}, eating out more often, getting new carpeting, windows, roofs, etc.
The economy in W. PA. is HOT and it is because of the fracking of our natural gas.
The fracking companies are repairing the roads that they travel {out of their own funds} and doing it better and way faster than PennDOT.
I love President Trump and the removal of regulations that have stymied growth for decades.
I feel so badly for NY State residents that are sitting on all that natural gas in their Marcellus Shale reserves, that are not being used because of mario the pious' son.
Ten years ago, I was paying over $350 + per month in the winter, I'm now around $ 150 or less and there are independent deals available from various suppliers {using my existing lines} which are less expensive {but you need to monitor them every month}.
My heating bills are about $2-3 thousand less per year than they were 10-12 years ago {the local tax man takes my heating savings}.
Yep, neutral gas is a superb heating fuel. It is also a great motor fuel.
Neutral=natural. Autocorrector is not your friend.
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