for week ending February 26, 2020 | Release date: February 27, 2020
In the News:
India’s sixth LNG import terminal comes online
In January 2020 India commissioned its sixth liquefied natural gas (LNG) import terminal, Mundra LNG, with a nominal import capacity of 0.7 billion cubic feet per day (Bcf/d). Mundra LNG is the third LNG import terminal located in India’s westernmost state, close to major natural gas consumption centers and a well-developed pipeline network.
All LNG import terminals in India except one are located on the west coast along the Arabian Sea. The first two terminals in operation—Dahej (2.3 Bcf/d capacity) and Hazira (0.7 Bcf/d capacity)—were placed in service in 2004 and 2005, respectively. These two terminals are the most utilized LNG facilities in India, operating at nearly 100% capacity utilization. In 2013, the Konkan terminal (formerly called Dabhol LNG, 0.3 Bcf/d capacity), located south of Mumbai, and Kochi LNG (0.7 Bcf/d), located adjacent to the Kochi refinery in southern India, were placed in service. Last year, India commissioned its first terminal on the southeast coast—Ennore LNG (0.7 Bcf/d)—primarily to serve customers in the Chennai area.
In the next three years, India’s LNG import capacity is expected to increase by one-third, with four terminals under construction expected to come online by 2023:....
.... Overview:....MUCH MORE
(For the week ending Wednesday, February 26, 2019)
- Natural gas spot prices fell at most locations this report week (Wednesday, February 19 to Wednesday, February 26). The Henry Hub spot price fell from $2.02 per million British thermal units (MMBtu) last Wednesday to $1.92/MMBtu yesterday.
- At the New York Mercantile Exchange (Nymex), the March 2020 contract expired yesterday at $1.821/MMBtu, down 13¢/MMBtu from last Wednesday. The April 2020 contract price decreased to $1.837/MMBtu, down 13¢/MMBtu from last Wednesday to yesterday. The price of the 12-month strip averaging April 2020 through March 2021 futures contracts declined 8¢/MMBtu to $2.171/MMBtu.
- The net withdrawal from working gas totaled 143 billion cubic feet (Bcf) for the week ending February 21. Working natural gas stocks total 2,200 Bcf, which is 41% more than the year-ago level and 9% more than the five-year (2015–19) average for this week.
- The natural gas plant liquids composite price at Mont Belvieu, Texas, rose by 9¢/MMBtu, averaging $4.64/MMBtu for the week ending February 26. The prices of natural gasoline and butane fell by 4% and 1%, respectively. The prices of propane and isobutane rose by 8% and 4%, respectively. The price of ethane remained flat week over week.
- According to Baker Hughes, for the week ending Tuesday, February 18, the natural gas rig count remained flat at 110. The number of oil-directed rigs rose by 1 to 679. The total rig count increased by 1, and it now stands at 791.
Prices/Supply/Demand: Prices fall across the Lower 48 states. This report week (Wednesday, February 19 to Wednesday, February 26), the Henry Hub spot price fell 10¢ from a high of $2.02/MMBtu last Wednesday to $1.92/MMBtu yesterday, after reaching a low of $1.89/MMBtu on Monday. Temperatures were generally close to normal across most of the country and warmer than normal in the Northeast and upper Midwest. At the Chicago Citygate, the price decreased 14¢ from a high of $1.90/MMBtu last Wednesday to $1.76/MMBtu yesterday. The price at PG&E Citygate in Northern California fell 3¢, down from a high of $2.68/MMBtu last Wednesday to $2.65/MMBtu yesterday. The price at SoCal Citygate in Southern California decreased 19¢ from a high of $2.39/MMBtu last Wednesday to $2.20/MMBtu yesterday....
Yesterday:
EIA Natural Gas Storage Report, February 27, 2019: No Help For the Longs
Two week's of futures prices:
