August 23, 2022

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Gas Markets

Market Watch

News that the Freeport LNG restart will be delayed until mid-November, not early October as originally stated, cut short a rally by US gas futures above $10 per million Btu. The September gas contract, which hit a day-high Tuesday of $10.028 per million Btu, ended the session down 48.7¢, or 4.9%, at $9.195/MMBtu. The last time US gas futures made a convincing run for $10/MMBtu, it was undercut by the Jun. 8 explosion and fire at Freeport LNG in Texas.

The 12-month strip fell 26.6¢ to $7.561; the 2023 calendar strip was off 11.7¢ to $6.411 (Futures contracts).

WTI October crude jumped $3.38 to $93.74/bbl on its first day as prompt month.

* * *

Alberta benchmark AECO saw the most significant price move of the day, rising $1.42 to $1.44. This compared to benchmark Henry Hub cash prices that were down 6¢ at $9.77. In the Northeast, Transco zone 6 New York went up 55¢ to average $9.41, while Boston-area Algonquin advanced 51¢ to average $9.61. In West Texas, cash prices at the Permian's Waha Hub fell 27¢ to average $8.33. Meanwhile, Rockies leader Kern/Opal rose 13¢ to $8.98, SoCal Citygate advanced 13¢ to average $10.12 and Northwest Sumas gained 18¢ to average $8.88 (Daily cash prices).

* * *

Prime Minister Justin Trudeau stated again this week that Canada would be willing to consider easing burdensome red tape on new gas export facilities to Europe, though he acknowledged that financing LNG export ventures in Eastern Canada could prove difficult. Speaking at a joint press conference with German Chancellor Olaf Scholz, Trudeau said there is no easy solution to the difficulty of supplying LNG export terminals on Canada’s Atlantic coast with gas sourced thousands of miles away in Western Canada. Canada will “explore ways to see if it makes sense to export LNG, and if there’s a business case for it to export LNG directly to Europe,” Trudeau said, adding that businesses in Canada and Germany are involved in “economic conversations.” Calgary-based Pieridae Energy, developer of the proposed 10 million ton per year (1.4 Bcf/d) Goldboro LNG export project in Nova Scotia, has garnered US$1.5 billion in "untied" German federal government loan guarantees to help finance upstream activities within the Goldboro LNG project.
Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
AECOWestcoast Station 2MalinTransco Z6 - NYStanfieldEl Paso BondadCenterPoint EastTranswestern Pipeline, San JuanWaha HubEl Paso Permian0%1000%2000%3000%4000%5000%6000%AECOWestcoast Station 2MalinTransco Z6 - NYStanfieldEl Paso BondadCenterPoint EastTranswestern Pipeline, San JuanWaha HubEl Paso Permian
Note: Aug 23' 22 versus prior day price: points moving up (63), down (13).
Natural Gas Spot Prices
Trade Date: Aug. 23, 2022 / Flow Date: Aug. 24, 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
AlgonquinGasTransmissionColumbia GasTransmissionEl PasoNatural GasKern RiverGasTransmissionCo.Natural GasPipeline Co.NOVA GasTransmissionLtdPanhandleEasternPipeline Co.TennesseeGas PipelineCo.TexasEasternTransmissionTranscoTranswesternPipelineCompany, LLC051015202530354045505560AlgonquinGasTransmissionColumbia GasTransmissionEl PasoNatural GasKern RiverGasTransmissionCo.Natural GasPipeline Co.NOVA GasTransmissionLtdPanhandleEasternPipeline Co.TennesseeGas PipelineCo.TexasEasternTransmissionTranscoTranswesternPipelineCompany, LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Aug 23, '22
Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23($/MMBtu)55.566.577.588.599.5Sep'22Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23CurrentLast Month
Henry Hub
Change from prior day, Aug 22 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Aug 23 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Aug 22 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
287305352268273692674445308Aug 15Aug 16Aug 17Aug 18Aug 19Aug 20Aug 21Aug 22Aug 23(MMcf/d)0100200300400500600700800Aug 15Aug 16Aug 17Aug 18Aug 19Aug 20Aug 21Aug 22Aug 23NortheastSoutheastTexasUpper 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)
16 Aug 2217 Aug 2218 Aug 2219 Aug 2220 Aug 2221 Aug 2222 Aug 228000100001200014000160001800020000220002400016 Aug 2217 Aug 2218 Aug 2219 Aug 2220 Aug 2221 Aug 2222 Aug 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
14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug(MW)0100020003000400050006000700080009000(MMcf/d)1400150016001700180019002000210014 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 AugCAISO 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
13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug(MW)010002000300040005000600070008000900010000110001200013000(MMcf/d)50010001500200025003000350013 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 AugWind 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
13 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug(MW)0100020003000400050006000(MMcf/d)8008509009501000105011001150120012501300135013 Aug14 Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 AugPJM 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
16517417319117116817018617August18August19August20August21August22August23August24August02040608010012014016018020017August18August19August20August21August22August23August24AugustCDDHDDCDD 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 2°
Orlando 2°
Boston 0°
Washington 0°
Seattle 7°
Philadelphia 4°
Nashville 0°
Minneapolis 2°
Los Angeles 0°
Las Vegas 4°
Detroit 0°
Denver -2°
Austin -6°
Atlanta -3°
Southeast US
New York 2°
Orlando 2°
Boston 0°
Washington 0°
Seattle 7°
Philadelphia 4°
Nashville 0°
Minneapolis 2°
Los Angeles 0°
Las Vegas 4°
Detroit 0°
Denver -2°
Austin -6°
Atlanta -3°

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