Day change: $0.047, up 1.7% | Settle: $2.747 | February 2021
Day change: $0.652, up 9.0% | Settle: $7.886 | February 2021
Day change: $2.450, up 14.2% | Settle: $19.700 | February 2021
BHI (Baker Hughes Index) U.S. natural gas rig count: up net 1 for the week ending Jan 8th, as 4 rigs were added in Marcellus while 2 were removed in the Utica and 1 yanked in Haynesville
The spot Asian LNG price has now shot up to a healthy $38+/mmBtu for the balance of the month, continuing its march to unprecedented highs.
As prices continue to shoot up, many buyers have been caught off guard, including those in India who are now expected to cancel some of their tenders.
Ship tracking data indicates that China is grabbing any available spot cargoes and therefore driving the price up as planners underestimated the level of gas demand
Spain’s natural gas demand soared over the weekend as LDZ demand reached a record high (114 million cubic meters) while LNG regas throughput hit a 10-yr high.
The demand has ramped up as Madrid and Spain were buried by the heaviest snowfall in 50 years, with at least a foot and half of snow in the capital city
Taiwan began receiving LNG from Cheniere Energy over the weekend, marking the start of a 25 year deal between Cheniere and CPC for 30 cargoes annually
Japan’s Federation of Electric Power Companies has called for cooperation for power saving as the country struggles with power shortages and surging demand.
The Federation posted on its website a call to consumers to limit electric power consumption while increasing reliance on heating equipment as much as possible
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