We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per million British thermal units (MMBtu), in our February Short-Term Energy Outlook (STEO). We forecast increases in natural gas prices as demand for natural gas grows faster than supply in 2024.
In 2022 and 2023, increases in natural gas supply (domestic natural gas production and imports) exceeded the increases in natural gas demand (domestic consumption and exports). In 2024, we expect the reverse will be true: demand increases by 2.3 billion cubic feet per day (Bcf/d) in our forecast, and supply remains relatively flat. In 2025, we expect supply and demand to grow at similar rates, although inventories will build because supply will still slightly exceed demand in our forecast.
At the end of January 2024, 7% more natural gas was held in U.S. inventories than the five-year (2019–23) average for that time of year. We expect natural gas inventories to remain high relative to their previous five-year average throughout 2024 and 2025.
We forecast that most of our increase in U.S. natural gas supply will come from domestic production of associated natural gas, much of which is in the Permian region of western Texas and eastern New Mexico. As a result, if U.S. crude oil production is less than we expect, we will also see less natural gas production than we forecast. In late 2023, we described in a STEO Perspectives paper how different crude oil prices might affect crude oil and natural gas production in our short-term forecast.
Growth in natural gas demand is driven by domestic consumption in 2024, then exports in 2025
We expect natural gas consumption to grow in all sectors in 2024 except the industrial sector, where we expect consumption will decrease slightly. Sectoral changes in natural gas consumption depend mostly on the weather. Natural gas-fired power plants provide about 40% of U.S. electricity generation annually, so electricity demand from heating and air-conditioning equipment influences how much natural gas the electric power sector consumes. We expect about 11% more U.S. natural gas consumption for electricity in 2024 than the previous five-year average.
In the residential and commercial sectors, colder temperatures in the winter also affect direct natural gas consumption by heating equipment. We expect combined consumption in the residential and commercial sectors to be 5% higher in 2024 than in 2023 because January 2023 and December 2023 had warmer-than-average temperatures, leading to relatively low consumption of natural gas for space heating. Our assumptions for future weather largely reflect the trend of the past 30 years.
The mix of energy sources and technologies used to generate electricity also affects natural gas consumption in the electric power sector. As developers add more generating capacity from solar- and wind-powered generators, those generators’ incremental generation may reduce the need to dispatch natural gas-fired power plants. Changes in the timing and magnitude of new solar and wind capacity would also affect our forecast for natural gas consumption in the electric power sector.
U.S. natural gas exports depend on the timing of new LNG export terminals
The United States exported 20.8 Bcf/d of natural gas in 2023, 57% as liquefied natural gas (LNG). At the end of 2023, 11.4 Bcf/d of baseload nameplate LNG export capacity had been built in the United States, and we expect developers to add an additional 5.3 Bcf/d of new LNG export capacity by the end of 2025.
According to trade press reports and other sources, three new terminals will come on line in the second half of 2024 and in 2025. Any changes to the operational dates of the three new export terminals—Golden Pass and Corpus Christi Stage III in Texas and Plaquemines LNG in Louisiana—may notably affect our LNG export forecast and, in turn, our overall natural gas demand expectations.
Our forecast accounts for the recent U.S. Department of Energy (DOE) announcement to pause determinations on applications to export LNG to countries with which the United States does not have a free trade agreement. However, capacity additions through 2025 will not be affected because these projects have been fully authorized by DOE and are already under construction.
Natural gas prices at several price hubs in Europe and Asia remain relatively high over the forecast period compared with U.S. natural gas prices. We assume that U.S. LNG over the forecast period will continue to replace natural gas that had been exported from Russia by pipeline to Europe. Because global LNG liquefaction capacity additions will be limited in the next two years, demand for flexible LNG supplies, mainly from the United States, will increase to meet incremental growth in global demand.
Source: EIA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
|
|
|
Showing 11 to 15 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
|
| |
| |
|
