July 26, 2022

WWW.ENERGYINTEL.COM

Gas Markets

Market Watch

August gas futures exploded out of the chute Tuesday, gaining $1.025 to a 14-year high of $9.752 per million Btu in a furious but brief short covering rally as options expired ahead of Wednesday’s expiration. Nonetheless, the prompt month gained 26.6¢ to close at $8.993/MMBtu, up $1.061 in the last three sessions as ginned up cooling loads cruising well north of 40 billion cubic feet per day still supported a more fundamentally based rally. The 12-month strip rose 13.3¢ to $7.45; the 2023 strip was up 1.8¢ to $5.935 (Futures contracts).

WTI September crude fell $1.72 to $94.98/bbl.

* * *

The Pacific Northwest border crossing at Sumas, Washington, saw the most significant price move of the day, rising $1.41 to $7.72. In Canada, Alberta benchmark Aeco rose 71¢ to $5.12. This compared to benchmark Henry Hub cash prices that were up 87¢ at $9.39. In the Northeast, Transco zone 6 New York went up 54¢ to average $8.41, while Boston-area Algonquin advanced 58¢ to average $8.78. In West Texas, cash prices at the Permian's Waha Hub rose 48¢ to average $8.33. Meanwhile, Rockies leader Kern/Opal rose 51¢ to $8.67 and SoCal Citygate advanced 74¢ to average $9.91 (Daily cash prices).

* * *

Cheniere Energy has entered a long-term deal to supply LNG from its Corpus Christi export terminal to Thailand energy company PTT. Under the contract, PTT will purchase 1 million tons per year of LNG (137 million cubic feet per day) for 20 years starting in 2026 and priced through a combination of free-on-board and ex-ship deliveries. This customized structure of the agreement "represents a further evolution in commercial offerings tailored to the specific needs of LNG customers around the world," Cheniere said. Supply will likely be sourced from the terminal’s stage 3 expansion project, which Cheniere sanctioned last month.

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
NW SumasWestcoast Station 2AECOTranswestern Pipeline, San JuanHenry Hub    Tenn 500 So LA Z10%5%10%15%20%NW SumasWestcoast Station 2AECOTranswestern Pipeline, San JuanHenry Hub    Tenn 500 So LA Z1
Note: Jul 26' 22 versus prior day price: points moving up (72), down (1).
Natural Gas Spot Prices
Trade Date: Jul. 26, 2022 / Flow Date: Jul. 27, 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 Natural GasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC0510152025303540455055Algonquin GasTransmissionColumbia GasTransmissionEl Paso Natural GasKern River GasTransmission Co.Natural GasPipeline Co.NOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jul 26, '22
Aug '22Sep '22Oct '22Nov '22Dec '22Jan '23Feb '23Mar '23Apr '23May '23Jun '23Jul '23($/MMBtu)4.555.566.577.588.59Aug '22Sep '22Oct '22Nov '22Dec '22Jan '23Feb '23Mar '23Apr '23May '23Jun '23Jul '23CurrentLast Month
Henry Hub
Change from prior day, Jul 25 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jul 26 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jul 25 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
302567585585562547613346303Jul 18Jul 19Jul 20Jul 21Jul 22Jul 23Jul 24Jul 25Jul 26(MMcf/d)02004006008001000120014001600Jul 18Jul 19Jul 20Jul 21Jul 22Jul 23Jul 24Jul 25Jul 26NortheastSoutheastTexasUpper 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)
19 Jul 2220 Jul 2221 Jul 2222 Jul 2223 Jul 2224 Jul 2225 Jul 22500010000150002000025000300003500040000450005000019 Jul 2220 Jul 2221 Jul 2222 Jul 2223 Jul 2224 Jul 2225 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
17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul(MW)01000200030004000500060007000800090001000011000(MMcf/d)120014001600180020002200240017 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 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
16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul(MW)020004000600080001000012000140001600018000(MMcf/d)50010001500200025003000350016 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 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
16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul(MW)0100020003000400050006000700080009000(MMcf/d)80010001200140016001800200016 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 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
26325224923923521319320620 July21 July22 July23 July24 July25 July26 July27 July05010015020025020 July21 July22 July23 July24 July25 July26 July27 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 1°
Boston 0°
Washington -4°
Seattle 7°
Philadelphia -2°
Nashville 3°
Minneapolis -2°
Los Angeles -5°
Las Vegas -4°
Detroit -3°
Denver 1°
Austin 3°
Atlanta 0°
Southeast US
New York 1°
Orlando 1°
Boston 0°
Washington -4°
Seattle 7°
Philadelphia -2°
Nashville 3°
Minneapolis -2°
Los Angeles -5°
Las Vegas -4°
Detroit -3°
Denver 1°
Austin 3°
Atlanta 0°

Copyright Notice

Copyright © 2022 by Energy Intelligence Group, Inc. Gas Market Reconnaissance is a trademark of Energy Intelligence. All rights reserved. Access, distribution and reproduction are subject to the terms and conditions of the subscription agreement and/or license with Energy Intelligence. Access, distribution, reproduction or electronic forwarding not specifically defined and authorized in a valid subscription agreement or license with Energy Intelligence is willful copyright infringement. Additional copies of individual articles may be obtained using the pay-per-article feature offered at www.energyintel.com.


Sales: sales@energyintel.comCustomer Service: customerservice@energyintel.com