July 14, 2022

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Gas Markets

Market Watch

August gas futures slipped 8.9¢ Thursday to $6.60 per million Btu after the contract lose early gains in the wake of storage data that mirrored analysts’ expectations in a Reuters survey. That was good news for bears as the bullish miss some expected could have sent the prompt month above $7/MMBtu as futures were up 2.5% prior to the report. The 12-month strip fell 5.9¢ to $5.876; the 2023 strip was off 4.2¢ to $5.143 (Futures contracts).

* * *

The Energy Information Administration reported a 58 Bcf build for the week ended Jul. 8, increasing net working gas inventories to 2,369 Bcf. The injection compares with a year-ago build of 49 Bcf and a five-year average build of 55 Bcf, and was in line with analyst expectations. Inventories fell to 319 Bcf, or 11.9% below the five-year average. The deficit to last year fell to 252 Bcf, or 9.6%. Next week's data is expected to show a 50 Bcf injection versus a five-year average of 41 Bcf (Storage).

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Gulf Coast price point Sonat saw the most significant price move of the day, rising $1.05 to $8.56. This compared to benchmark Henry Hub cash prices that were up 22¢ at $6.86. In the Northeast, Transco zone 6 New York was flat to average $6.05, while Boston-area Algonquin advanced 2¢ to average $6.12. In West Texas, cash prices at the Permian's Waha Hub rose 18¢ to average $6.40. Meanwhile, Rockies leader Kern/Opal rose 24¢ to $6.57, SoCal Citygate advanced 27¢ to average $7.94 and Northwest Sumas lost 11¢ to average $4.93. In Canada, Alberta benchmark Aeco rose 47¢ to $4.22 (Daily cash prices).

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US independent ConocoPhillips plans to bolster its North American LNG footprint through a sweeping deal to partner with Sempra on export facilities in the US and Mexico. Under an initial non-binding agreement announced Thursday, Conoco would acquire a 30% direct equity holding in the proposed 13.5 million ton per year (1.85 Bcf/d) first phase at the Port Arthur LNG project in Texas. The deal would also consider a potential 20-year tolling agreement that would see Conoco become the facility’s largest offtaker so far, with 5 million tons/yr (685 MMcf/d). The agreement marks another expansion by Conoco into the LNG space following the Russian invasion of Ukraine, which has left Europe with few options for natural gas supply. The announcement comes weeks after the Houston-based company snagged a 3.125% stake in QatarEnergy’s North Field East expansion.

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
SonatAECOWestcoast Station 2EmpressKern River DeliveredANR SETennessee Zone 4 200-legTenn Gas Zone 6NW SumasStanfield-8%-6%-4%-2%0%2%4%6%8%10%12%14%SonatAECOWestcoast Station 2EmpressKern River DeliveredANR SETennessee Zone 4 200-legTenn Gas Zone 6NW SumasStanfield
Note: Jul 14' 22 versus prior day price: points moving up (67), down (7).
Natural Gas Spot Prices
Trade Date: Jul. 14, 2022 / Flow Date: Jul. 15, 2022
The above figures refer to volume-weighted averages for gas deals done today for tomorrow's flow, or weekend delivery on Friday trading, at each particular spot. Change reflects the difference from the previous published price. Composites reflect volume-weighted average for all deals done in the regional grouping. Daily Composite Spot Wellhead is a volume-weighted average for all producing area pipelines less gathering and processing costs. All prices are in $/MMBtu.

Critical Notices

Sort:
Count of Critical Notices in Last 7 Days
Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC0102030405060Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jul 14, '22
Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23($/MMBtu)4.555.566.577.5Aug'22Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23CurrentLast Month
Henry Hub
Change from prior day, Jul 13 '22

Storage Report

North American Natural Gas Storage
Jul 14, '22
50%57%51%Lower 48CanadaLower 48 & Canada(BCF)050010001500200025003000350040004500500055006000Lower 48CanadaLower 48 & Canada
Note: The value shown in the bars represents the percentage full.
North American Weekly Gas Storage
Sources: US-EIA. Canada-RBN Energy. Values in Bcf unless otherwise noted.


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jul 14 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jul 13 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
259215116295239118162463453Jul 6Jul 7Jul 8Jul 9Jul 10Jul 11Jul 12Jul 13Jul 14(MMcf/d)0200400600800100012001400Jul 6Jul 7Jul 8Jul 9Jul 10Jul 11Jul 12Jul 13Jul 14NortheastSoutheastTexasUpper MidwestWestTotalYear-Ago
Note: Source: US Nuclear Regulatory Commission's Daily Power Reactor Status Report and Energy Intelligence,Historical data available via EI New Energy Data

Gas Prices, Power Prices and Spark Spreads for Major Hubs

Marginal Heat Rates (Btu/kWh)
7 Jul 22 8 Jul 22 9 Jul 2210 Jul 2211 Jul 2212 Jul 2213 Jul 2250001000015000200002500030000350004000045000 7 Jul 22 8 Jul 22 9 Jul 2210 Jul 2211 Jul 2212 Jul 2213 Jul 22Malin/COBSocal/Palo VerdeAlgonquin/NE PoolHouston SC - Katy/ErcotStanfield/Mid-Col.TZ6 NNY/PJM W
Note: Indicates the threshold heat rate for each gas/power pair. Below the MHR, gas-fired generation may be more cost effective vs. purchased power above. For holidays and weekends, the previous business day's values are displayed.
Gas, Power Prices & Spark Spreads for Generators Major Hubs

Renewable Energy

Gas Equivalent of Caiso Wind and Solar Output
5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul12 Jul13 Jul(MW)010002000300040005000600070008000900010000(MMcf/d)16001700180019002000210022002300 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul12 Jul13 JulCAISO Solar PVCAISO Solar ThermalCAISO WindTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of Ercot Wind Output
4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul12 Jul13 Jul(MW)020004000600080001000012000140001600018000(MMcf/d)5001000150020002500300035004000 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul12 Jul13 JulWind Generation (MW)Gas equivalent (MMcf/d)Gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data



Gas Equivalent of PJM Renewable Output
4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul12 Jul13 Jul(MW)010002000300040005000600070008000(MMcf/d)900100011001200130014001500160017001800 4 Jul 5 Jul 6 Jul 7 Jul 8 Jul 9 Jul10 Jul11 Jul12 Jul13 JulPJM SolarPJM HydroPJM WindPJM Other RenewablesTOTAL gas equivalent (MMcf/d)TOTAL gas equivalent (MMcf/d) - Last Year
Note: Historical data available via EI New Energy Data
Note: Historical data available via EI New Energy Data




Weather

Today's Short-Term Weather Forecast

Atlanta
Austin
Denver
Detroit
Las Vegas
Los Angeles
Minneapolis
Nashville
Philadelphia
Seattle
Washington
Boston
Orlando
New York
Leaflet | Weather from OpenWeatherMap
To change the layers on the map, click the icon to the left and choose the layer you want to display.
Layers available on weather map:
  • Temperature:
    Current ground temperature(in Fahrenheit).
  • Clouds:
    Displays the positions of the current cloud cover.
  • Precipitation:
    Displays current amount of falling water in liquid, sleet or snow form (in inches).
  • Wind speed:
    Displays the current wind speed(in knots).
  • Sea Level Pressure:
    Displays the current pressure at sea level(in millibars).
  • Snow:
    Displays the daily snow fall(in inches).
  • Rain:
    Displays today’s amount of rain fall(in inches).

Degree Days

Degree Days
2051851871812132061981878 July9 July10 July11 July12 July13 July14 July15 July0204060801001201401601802002208 July9 July10 July11 July12 July13 July14 July15 JulyCDDHDDCDD AvgHDD Avg
Note: Cooling Degree Days is the sum of temperature variances above 65 degrees for 14 cities: Atlanta, Georgia, Austin, Texas, Denver, Colorado, Detroit, Michigan, Las Vegas, Nevada, Los Angeles, California, Minneapolis, Minnesota, Nashville, Tenn, Philadelphia, Pennsylvania, Seattle, Washington, Washington, DC, Boston, Massachusetts, Orlando, Florida, New York, New York. Heating Degree Days is the sum of temperature variances below 65 degrees for those same 14 cities.
Degree Days


Regional °F Degree Day Differentials
Values listed are the previous days' difference from the 5-year degree day average.

Ex: A value of -4° indicates previous days' degree days were 4 degrees below the 5-year average.

Northeast US
New York 1°
Orlando 2°
Boston 4°
Washington -1°
Seattle -1°
Philadelphia 4°
Nashville -2°
Minneapolis -1°
Los Angeles -5°
Las Vegas 0°
Detroit -6°
Denver 9°
Austin 4°
Atlanta 0°
Southeast US
New York 1°
Orlando 2°
Boston 4°
Washington -1°
Seattle -1°
Philadelphia 4°
Nashville -2°
Minneapolis -1°
Los Angeles -5°
Las Vegas 0°
Detroit -6°
Denver 9°
Austin 4°
Atlanta 0°

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