July 29, 2022

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Gas Markets

Market Watch

September gas futures gained 9.5¢ Friday to end the week at $8.229 per million Btu. The quiet session belied the week's intense volatility that saw prompt month prices soar as high as $9.75 on Tuesday and as low as $8.01 on Friday. The 12-month strip rose 1.8¢ to $6.707; the 2023 calendar strip lost 2.3¢ at $5.633 (Futures contracts).

WTI September crude rose $2.20 to $98.62/bbl.

* * *

US Southeast benchmark Transco Zone 5 saw the most significant cash price move of the day, rising $1.98 to $12.39. This compared to benchmark Henry Hub cash prices that were down 33¢ at $8.34. In the Northeast, Transco zone 6 New York went up 14¢ to average $7.84, while Boston-area Algonquin advanced 21¢ to average $7.95. In West Texas, cash prices at the Permian's Waha Hub fell 14¢ to average $7.72. Meanwhile, Rockies leader Kern/Opal fell 8¢ to $7.98, SoCal Citygate advanced 63¢ to average $9.22 and Northwest Sumas gained 11¢ to average $6.70. In Canada, Alberta benchmark Aeco fell 21¢ to $4.78 (Daily cash prices).

* * *

The Shell-led LNG Canada project will pay TC Energy more than originally agreed upon for constructing the Coastal GasLink pipeline across northern British Columbia. The agreement sets the cost to build the 416 mile, 2.2 billion cubic foot per day capacity pipeline from Dawson Creek in the Montney Shale to Kitimat on the BC coast at C$11.2 billion (US$8.7 billion). That’s 70% more than the original estimated cost of C$6.6 billion. TC Energy CEO Francois Poirier said in a call this week that sheaf of revised agreements with LNG Canada ``settles all outstanding disputes'' and will allow the pipeline to be completed by late 2023 in time for first production at LNG Canada.

* * *

The US rig count climbed nine to 767 last week, up 279 from a year ago. Gas-directed rigs climbed two to 157, up 54 from a year ago, while oil rigs climbed six to 605, up 220 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 108 rigs to 351, followed distantly by the Eagle Ford Shale, up 40 to 72. The Haynesville Shale rig count is up 22 at 69 (Rig counts).

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
Transco Zone 5Florida Zone 3Transco Station 65EmpressTransco Zone 4DawnHenry HubNGPL-South TexasAECOTetco ELA-5%0%5%10%15%20%Transco Zone 5Florida Zone 3Transco Station 65EmpressTransco Zone 4DawnHenry HubNGPL-South TexasAECOTetco ELA
Note: Jul 29' 22 versus prior day price: points moving up (25), down (47).
Natural Gas Spot Prices
Trade Date: Jul. 29, 2022 / Flow Date: Aug. 1, 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 GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC0510152025303540455055Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Jul 29, '22
Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23($/MMBtu)44.555.566.577.588.5Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23CurrentLast Month
Henry Hub
Change from prior day, Jul 28 '22

Baker Hughes Rig Count

Baker Hughes US Gas Rig Count
7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 2260708090100110120130140150160 7 Jan 2214 Jan 2221 Jan 2228 Jan 22 4 Feb 2211 Feb 2218 Feb 2225 Feb 22 4 Mar 2211 Mar 2218 Mar 2225 Mar 22 1 Apr 22 8 Apr 2215 Apr 2222 Apr 2229 Apr 22 6 May 2213 May 2220 May 2227 May 22 3 Jun 2210 Jun 2217 Jun 2224 Jun 22 1 Jul 22 8 Jul 2215 Jul 2222 Jul 2229 Jul 22 5 Aug 2212 Aug 2219 Aug 2226 Aug 22 2 Sep 22 9 Sep 2216 Sep 2223 Sep 2230 Sep 22 7 Oct 2214 Oct 2221 Oct 2228 Oct 22 4 Nov 2211 Nov 2218 Nov 2225 Nov 22 2 Dec 22 9 Dec 2216 Dec 2223 Dec 2230 Dec 22202020212022
Gas Rigs by Basin
Rig Count as of Jul 29 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Jul 29 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Jul 28 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
585562547613346303304333411Jul 21Jul 22Jul 23Jul 24Jul 25Jul 26Jul 27Jul 28Jul 29(MMcf/d)02004006008001000120014001600Jul 21Jul 22Jul 23Jul 24Jul 25Jul 26Jul 27Jul 28Jul 29NortheastSoutheastTexasUpper 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)
22 Jul 2223 Jul 2224 Jul 2225 Jul 2226 Jul 2227 Jul 2228 Jul 22900010000110001200013000140001500016000170001800022 Jul 2223 Jul 2224 Jul 2225 Jul 2226 Jul 2227 Jul 2228 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
20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Jul27 Jul28 Jul(MW)01000200030004000500060007000800090001000011000(MMcf/d)120014001600180020002200240020 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Jul27 Jul28 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
19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Jul27 Jul28 Jul(MW)020004000600080001000012000140001600018000(MMcf/d)50010001500200025003000350019 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Jul27 Jul28 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
19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Jul27 Jul28 Jul(MW)0100020003000400050006000700080009000(MMcf/d)80010001200140016001800200019 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Jul27 Jul28 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
23923521319020620519219323 July24 July25 July26 July27 July28 July29 July30 July02040608010012014016018020022024026023 July24 July25 July26 July27 July28 July29 July30 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 3°
Orlando 1°
Boston 7°
Washington 1°
Seattle 8°
Philadelphia 1°
Nashville -1°
Minneapolis -3°
Los Angeles -2°
Las Vegas -5°
Detroit -3°
Denver -3°
Austin 0°
Atlanta 1°
Southeast US
New York 3°
Orlando 1°
Boston 7°
Washington 1°
Seattle 8°
Philadelphia 1°
Nashville -1°
Minneapolis -3°
Los Angeles -2°
Las Vegas -5°
Detroit -3°
Denver -3°
Austin 0°
Atlanta 1°

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