December 16, 2022

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Gas Markets

Market Watch

US gas futures did not cruise above $7/MMBtu as expected Friday, instead falling 37¢ to $6.60/MMBtu, up 35.5¢ for the week. It was the second counterintuitive trading day this week, on par with the 50.5¢ fall Wednesday that was followed by a 54¢ gain to $6.97/MMBtu on Thursday — the highest close since Nov. 29. The 12-month strip fell 15.1¢ to $5.543; the 2024 strip rose 2.7¢ to $4.75 (Futures contracts).

WTI January crude fell $1.82 to $74.29/bbl, still up $3.27 for the week.

* * *

New England's Algonquin saw the most significant price move of the day, rising $8.58 to $17.15. Transco zone 6 New York went up $8.98 to average $18.00. This compared to benchmark Henry Hub cash prices that were down 13¢ at $6.59. In West Texas, cash prices at the Permian's Waha Hub fell $1.54 to average $2.96. Meanwhile, Rockies leader Kern/Opal fell $3.55 to $29.63, SoCal Citygate declined $1.67 to average $33.97 and Northwest Sumas lost $4.50 to average $28.78. In Canada, Alberta benchmark Aeco rose 6¢ to $5.05 (Daily cash prices).

* * *

Pipeline company Tallgrass has agreed to buy financially troubled Ruby Pipeline, which is now in the hands of bondholders after its bankruptcy earlier this year. “The acquisition of this asset provides access to established markets, an additional 1.5 Bcf/d of natural gas capacity to the company’s portfolio and immediate and strong cash flow to the company,” Tallgrass said in a statement this week. Nonetheless, the 680-mile pipeline from Opal, Wyoming, to Malin, Oregon, lost most of its firm shippers when they did not renew 10-year contracts. Ruby has been flowing at less than 25% of its 1.7 billion cubic foot per day capacity mainly due to competition with cheaper Canadian supply on Gas Transmission Northwest via Kingsgate.

* * *

Germany’s first LNG import terminal arrived on the country’s north coast Thursday, the first of several specialist tankers that will give US LNG access to Europe’s largest economy. The FSRU will receive LNG from operators around the world to pump into Germany’s onshore network. German utility Uniper SE, which will operate the FSRU, has LNG contracts that would access supply from the US and Canada. Europe is outpacing Asia as a market for US LNG. France at 48.9 Bcf; the UK, 46 Bcf; and the Netherlands, 40.5 Bcf; were the top three destinations for US LNG exports in October.

* * *

The US rig count fell four to 776 last week, up 197 from a year ago, Baker Hughes reported. Gas-directed rigs climbed one to 154, up 50 from a year ago, while oil rigs dropped five to 620, up 145 from a year ago. The data show the bulk of the increase in year-over-year activity is in the Permian Basin, up 62 rigs to 350, followed distantly by the Eagle Ford Shale, up 27 to 71. The Haynesville Shale rig count is up 25 at 72 (Rig counts).

Everett Wheeler, Washington and Tom Haywood, Houston

Natural Gas Spot Prices

Top 5 Upward & Downward Price Movements
AlgonquinTransco Z6 - NYTenn Gas Zone 6DracutTransco Zone 5El Paso PermianTranswestern Pipeline, San JuanEl Paso BondadTranswes E of ThoreauEl Paso San Juan-60%-40%-20%0%20%40%60%80%100%AlgonquinTransco Z6 - NYTenn Gas Zone 6DracutTransco Zone 5El Paso PermianTranswestern Pipeline, San JuanEl Paso BondadTranswes E of ThoreauEl Paso San Juan
Note: Dec 16' 22 versus prior day price: points moving up (24), down (56).
Natural Gas Spot Prices
Trade Date: Dec. 16, 2022 / Flow Dates: Dec. 17-19, 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 GasTransmissionEastern GasTransmissionEl Paso NaturalGasKern River GasTransmissionCo.Natural GasPipeline Co.NorthwestPipelineNOVA GasTransmissionLtdPanhandleEasternPipeline Co.Tennessee GasPipeline Co.Texas EasternTransmissionTranscoTranswesternPipelineCompany, LLCTrunkline GasCo.051015202530354045505560Algonquin GasTransmissionEastern GasTransmissionKern River GasTransmissionCo.NorthwestPipelinePanhandleEasternPipeline Co.Texas EasternTransmissionTranswesternPipelineCompany, LLCColumbia GasTransmissionEl Paso NaturalGasNatural GasPipeline Co.NOVA GasTransmissionLtdTennessee GasPipeline Co.TranscoTrunkline GasCo.
Critical Notices

Natural Gas Futures

Nymex Henry Hub Future Price Curves
Dec 16, '22
Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23Oct'23Nov'23Dec'23($/MMBtu)4.64.855.25.45.65.866.26.46.66.8Jan'23Feb'23Mar'23Apr'23May'23Jun'23Jul'23Aug'23Sep'23Oct'23Nov'23Dec'23CurrentLast Month
Henry Hub
Change from prior day, Dec 15 '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 2260708090100110120130140150160170 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 Dec 16 '22. Source: Baker Hughes


Related Markets

Comparative Fuels

Comparative Fuels
Prices for Dec 16 '22

Spot Cash Electricity Prices

Spot Cash Electricity Prices
Today's prices as of Dec 15 '22

Gas Needed to Replace Offline Nuclear Capacity

Gas Needed to Replace Off Line Nuclear Capacity
129311661227122610769549569221059Dec 8Dec 9Dec 10Dec 11Dec 12Dec 13Dec 14Dec 15Dec 16(MMcf/d)0200400600800100012001400Dec 8Dec 9Dec 10Dec 11Dec 12Dec 13Dec 14Dec 15Dec 16NortheastSoutheastTexasUpper 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)
9 Dec 2210 Dec 2211 Dec 2212 Dec 2213 Dec 2214 Dec 2215 Dec 22400050006000700080009000100001100012000130001400015000 9 Dec 2210 Dec 2211 Dec 2212 Dec 2213 Dec 2214 Dec 2215 Dec 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
7 Dec 8 Dec 9 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec(MW)050010001500200025003000350040004500500055006000(MMcf/d)850900950100010501100115012001250130013501400 7 Dec 8 Dec 9 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 DecCAISO 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
6 Dec 7 Dec 8 Dec 9 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec(MW)02000400060008000100001200014000160001800020000(MMcf/d)100015002000250030003500400045005000 6 Dec 7 Dec 8 Dec 9 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 DecWind 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
6 Dec 7 Dec 8 Dec 9 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec(MW)0100020003000400050006000700080009000(MMcf/d)8001000120014001600180020002200 6 Dec 7 Dec 8 Dec 9 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 DecPJM 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
28926529032632731231436810December11December12December13December14December15December16December17December05010015020025030035040010December11December12December13December14December15December16December17DecemberCDDHDDCDD 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 6°
Orlando -4°
Boston 10°
Washington 2°
Seattle -6°
Philadelphia 8°
Nashville -9°
Minneapolis 1°
Los Angeles 2°
Las Vegas -4°
Detroit -2°
Denver -9°
Austin -5°
Atlanta -9°
Southeast US
New York 6°
Orlando -4°
Boston 10°
Washington 2°
Seattle -6°
Philadelphia 8°
Nashville -9°
Minneapolis 1°
Los Angeles 2°
Las Vegas -4°
Detroit -2°
Denver -9°
Austin -5°
Atlanta -9°

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