Continued increase in LNG prices in global markets
reported by Mehr News Agency quoted from the Institute of International Energy Studies, the weekly review and analysis of the global natural gas market shows that the price of a single cargo of natural gas in the art market Hub During the period from November 7 to November 15, it had an upward trend with volatility, ranging from about $1.52 per million BTU on November 7 to 1. $23 per million BTU on Nov. 8, then down to $2.10 per million BTU increased on November 13.
Also, the price of a single shipment of natural gas in the New York market had an increasing trend along with fluctuations during the mentioned period and was around $1.35 per million BTU on November 7th to $1.03 per million BTU on November 8th and then on the 13th November rose to $2 per million BTU.
The price of a single cargo of natural gas in the Chicago market also increased along with the fluctuation and started from about 1.44 dollars per million BTU on November 7th to $1.08 per million BTU on November 8th and then down to $1.99 per million BTU increased on November 13.
According to data from S&P Global Commodity Insights, US natural gas demand in the period from November 7 to November 13, 2024 is about 5.4 percent (5.4 percent) compared to the previous week. 5 billion cubic feet per day) and averaged 106.9 billion cubic feet per day. Meanwhile, the consumption of natural gas for electricity production decreased by 2.28% (0.8 billion cubic feet per day) and was an average of 34.2 billion cubic feet per day. Consumption in the industrial sector also increased by 1.3% (0.3 billion cubic feet per day) to an average of 23.3 billion cubic feet per day, while consumption in the residential and commercial sector increased by 24.02% (4.3 billion cubic feet). per day) increased and is estimated at an average of 22.2 billion cubic feet per day.
In the period from November 7 to November 13, 2024, the amount of US natural gas imports via pipeline from Canada increased by 0.6 billion cubic feet to 6.5 billion cubic feet per day. was placed Natural gas imports from Canada increased by 1.1 billion cubic feet per day compared to the same period last year. American natural gas market production decreased by 0.88% (0.9 billion cubic meters) in the period from November 7 to November 13, and compared to the same time last year, it decreased by 3.9 billion cubic feet and was at the level of 100.9 billion. cubic feet per day.
According to the Baker Hughes Institute report , the number of US natural gas drilling rigs on November 5, 2024 was about 102 rigs and was stable compared to the previous week. The number of drilling rigs in the oil sector (including oil gas production) was also stable compared to the previous week and was at the level of 479 active rigs.
According to the estimates of the US Energy Information Administration, the amount of underground reserves of natural gas in the US during the week ending on November 8, 2024 was about 3974 billion cubic feet, which is an increase of about 42 billion cubic feet compared to the previous week. has been found These reserves were 158 billion cubic feet (4.1 percent) more than the same amount last year on November 8, 2023, and 228 billion cubic feet (6.1 percent) more than the five-year average (2019-2023). The average underground reserves of American natural gas at the same time in the last five years was about 3746 billion cubic feet.
Also, in the eastern region, the amount of reserves during the week ending November 8, 2024, compared to the previous week, increased by 8 billion cubic feet and reached the level of 942 billion cubic feet, and 26 billion cubic feet (2.8%) is more than the average of the last five years in this region. The average underground reserves of natural gas in the eastern United States at the same time last five years was about 916 billion cubic feet.
Reserves in the production area (Alabama, Arkansas, Kansas, Louisiana, etc.) were 159 billion cubic feet more than the average of the last five years and increased by 21 billion cubic feet compared to the previous week. And it is at the level of 1888 billion cubic feet.
The level of underground reserves of natural gas in the western region of America during the week ending November 8, 2024 increased by 13 billion cubic feet compared to the previous week and reached the level of 1143 billion cubic feet, which is equivalent to 42 billion cubic feet more than the average of the last five years in this region. The average underground reserves of natural gas in the western United States at the same time in the last five years were about 1101 billion cubic feet.
The future prices of natural gas in the US stock market (first month futures) during the period from November 11 to November 15, 2024, had a downward trend along with volatility, ranging from about $2.92 in per million BTU on November 11, 2024 to about $2.98 per million BTU It rose on November 13 and then fell to $2.82 per million BTU on November 15.
Also, the price of natural gas in the European market during the last week had an increasing trend along with volatility and was around 14.23 dollars per million BTU on November 11, 2024 rose to over $14.82 per million BTU on November 15.
Austrian OMV company warns about the possibility of stopping the export of Russian gas from Ukraine to Europe as a result of the legal battle of Gazprom with The Austrian company (normally, about 42.4 million cubic meters of Russian gas enters the EU via Ukraine per day, and the OMV contract imports approximately 17 million cubic meters per day to Austria), the decrease in air temperature in Europe and the increase in heating demand in this region, decrease The production of wind power in Europe and as a result of the increase in the demand for gas electricity in this region, a 16% decrease in the import of LNG to Europe in October 2024 compared to October 2023, a decrease The level of European gas reserves reached 93.58% as a result of the cold weather and withdrawal from these reserves, concerns about the impact of Hurricane Rafael on American gas production and increased concerns about the disruption of LNG supply. /span> In the Middle East region (increasing Israeli airstrikes against Hezbollah in southern Lebanon and continuous attacks on ships in the Red Sea) has been one of the main factors boosting gas prices in the European market over the past week.
On the other hand, factors such as the continuation of the flow of 42.4 million cubic meters per day of Russian gas through the pipeline from Ukraine to the European market, the relative reduction of tensions between the occupying regime of Quds and Iran during the week The past and the continuation of negotiations between Europe and the Republic of Azerbaijan to increase the supply of gas to this region prevented a further increase in gas prices during the past week.
