September 20, 2022

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Gas Markets

Market Watch

October gas futures continued to loll in a mid- to upper $7 range, edging down 3.5¢ Tuesday to $7.717 per million Btu. Bearish production trends and falling power burns seem to be setting a pre-winter floor for now; however, spring and summer 2023 contracts saw larger losses for a second session. The 12-month strip was down 9.1¢ to $6.469; the 2023 strip fell 12¢ to $5.913 (Futures contracts).

WTI October crude fell $1.28 Tuesday to roll off the board at $84.45/bbl. November crude, which takes now takes the lead position, was down $1.42 to $83.94/bbl.

* * *

British Columbia's Westcoast Station 2 saw the most significant price move of the day, falling 68¢ to $1.23. Alberta benchmark Aeco rose 27¢ to $3.35. This compared to benchmark Henry Hub cash prices that were up 11¢ at $7.94. In the Northeast, Boston-area Algonquin declined 20¢ to average $7.05. In West Texas, cash prices at the Permian's Waha Hub rose 14¢ to average $5.24. Meanwhile, Rockies leader Kern/Opal fell 11¢ to $6.90, SoCal Citygate declined 17¢ to average $7.30 and Northwest Sumas gained 7¢ to average $6.97 (Daily cash prices).

* * *

The Corpus Christi LNG Stage 3 expansion will be supplied via a 43-mile supply line connected to Whistler Pipeline at Agua Dulce. Cheniere Energy and Austin-based WhiteWater Midstream agreed this week to proceed with the ADCC Pipeline project with an initial capacity of 1.7 Bcf/d expandable to 2.5 Bcf/d by adding more compression. While the supply line will deliver more gas than the Stage 3 buildout would require, Chenier is working on plans to continue adding trains and has proposed a stage four project at the terminal.

* * *

The Driftwood LNG export project was pushed further into doubt this week when project developer Tellurian withdrew a $1 billion high-yield bond sale that was designed to kickstart financing for the venture. The Houston-based company cited uncertainty in the junk-bond market for the move on Monday as the Federal Reserve seems poised to continue raising rates. However, Tellurian has struggled for six years to attract financing for its LNG export terminal in Lake Charles, Louisiana, which it began constructing prior to obtaining funding. Last week, activist investor Achur Iskounen urged Tellurian's management and its directors to sell the “untenable” company.

Tom Haywood, Houston and Everett Wheeler, Washington

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
AECOKingsgateEmpressTransco Zone 4Transwes E of ThoreauEl Paso - South MainlinePG&E CitygateAlgonquinKern - Wheeler RidgeWestcoast Station 2-35%-30%-25%-20%-15%-10%-5%0%5%10%AECOKingsgateEmpressTransco Zone 4Transwes E of ThoreauEl Paso - South MainlinePG&E CitygateAlgonquinKern - Wheeler RidgeWestcoast Station 2
Note: Sep 20' 22 versus prior day price: points moving up (37), down (41).
Natural Gas Spot Prices
Trade Date: Sep. 20, 2022 / Flow Date: Sep. 21, 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 GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC051015202530354045505560Algonquin GasTransmissionColumbia GasTransmissionEl Paso NaturalGasKern River GasTransmission Co.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmission LtdTennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipeline Company,LLC
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Sep 20, '22
Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23($/MMBtu)55.566.577.588.599.5Oct'22Nov'22Dec'22Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23CurrentLast Month
Henry Hub
Change from prior day, Sep 19 '22


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Sep 20 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Sep 19 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
163813511412129311861299130612681166Sep 12Sep 13Sep 14Sep 15Sep 16Sep 17Sep 18Sep 19Sep 20(MMcf/d)020040060080010001200140016001800200022002400Sep 12Sep 13Sep 14Sep 15Sep 16Sep 17Sep 18Sep 19Sep 20NortheastSoutheastTexasUpper 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)
13 Sep 2214 Sep 2215 Sep 2216 Sep 2217 Sep 2218 Sep 2219 Sep 22600080001000012000140001600018000200002200013 Sep 2214 Sep 2215 Sep 2216 Sep 2217 Sep 2218 Sep 2219 Sep 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
11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep(MW)0100020003000400050006000700080009000(MMcf/d)120013001400150016001700180019002000210011 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 SepCAISO 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
10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep(MW)020004000600080001000012000140001600018000(MMcf/d)10001500200025003000350010 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 SepWind 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
10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep(MW)01000200030004000500060007000(MMcf/d)800100012001400160018002000220010 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 SepPJM 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
10410410913013214514712814September15September16September17September18September19September20September21September02040608010012014016014September15September16September17September18September19September20September21SeptemberCDDHDDCDD 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 8°
Orlando 0°
Boston 4°
Washington 6°
Seattle 4°
Philadelphia 9°
Nashville 8°
Minneapolis 10°
Los Angeles 2°
Las Vegas 3°
Detroit 1°
Denver 9°
Austin 2°
Atlanta 4°
Southeast US
New York 8°
Orlando 0°
Boston 4°
Washington 6°
Seattle 4°
Philadelphia 9°
Nashville 8°
Minneapolis 10°
Los Angeles 2°
Las Vegas 3°
Detroit 1°
Denver 9°
Austin 2°
Atlanta 4°

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