In January and February, three major winter storms impacted numerous states across the U.S., particularly in the Midwest and several southern regions. These storms brought record snowfall and extremely low temperatures, which led to a substantial increase in the demand for natural gas for heating and significantly altered our natural gas storage levels.
Production and Demand
After these two months of severe weather, the U.S. is finally experiencing milder temperatures. As a result, the demand for heating has decreased, leading to a 14.5 percent reduction in total natural gas consumption compared to the week of February 24th. Power generation saw a 14.4 percent decline (4.7 Billion cubic feet (Bcf/d), and the industrial sector experienced a decrease of 3.9 percent (1.0 Bcf/d). However, the most significant drop occurred in the residential and commercial sectors, which fell by 21.1 percent (8.7 Bcf/d).
The U.S. storage levels are currently 24.9 percent (585 Bcf) lower than last year and 11.3 percent (224 Bcf) below the five-year average. Lower natural gas storage can lead to higher energy prices, as a reduced supply during periods of high demand, such as cold weather, may result in increased heating and electricity costs for households.
Last year, natural gas producers reduced the number of rigs to help stabilize prices, leading to a second consecutive year of decreased natural gas rigs. However, due to recent winter weather and the withdrawal of natural gas from storage, producers are now increasing the rig count, which is up by 3 percent compared to the week of February 24th. While this marks an increase in rigs from last week, the U.S. remains 14.3 percent lower than last year.
Looking Forward
U.S. natural gas futures rose significantly this past week, driven by record exports of liquefied natural gas (LNG) and strong international demand expected in the coming weeks. This surge is partly due to reports that Germany isn't negotiating with Russia for pipeline gas, which means Germany and other European countries will likely rely more on U.S. LNG. The U.S. is the world's largest LNG exporter, which is set to expand its export capacity with several new facilities this year, including the second phase of Plaquemines LNG. Once completed, along with the launch of Corpus Christi LNG Stage 3 exports, the EIA estimates that U.S. LNG production capacity will reach 15.4 Bcf/d, with a potential peak of 18.7 Bcf/d.
Since 2010, energy demand has risen significantly due to severe weather, fluctuations in both international and national gas markets, and various other factors. One rapidly growing influence on this demand is artificial intelligence (AI). NextEra Energy projects a 55 percent increase in power demand over the next 20 years, with 17 percent of that increase attributed to the growth of AI.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
In January and February, three major winter storms impacted numerous states across the U.S., particularly in the Midwest and several southern regions. These storms brought record snowfall and extremely low temperatures, which led to a substantial increase in the demand for natural gas for heating and significantly altered our natural gas storage levels.
Production and Demand
After these two months of severe weather, the U.S. is finally experiencing milder temperatures. As a result, the demand for heating has decreased, leading to a 14.5 percent reduction in total natural gas consumption compared to the week of February 24th. Power generation saw a 14.4 percent decline (4.7 Billion cubic feet (Bcf/d), and the industrial sector experienced a decrease of 3.9 percent (1.0 Bcf/d). However, the most significant drop occurred in the residential and commercial sectors, which fell by 21.1 percent (8.7 Bcf/d).
The U.S. storage levels are currently 24.9 percent (585 Bcf) lower than last year and 11.3 percent (224 Bcf) below the five-year average. Lower natural gas storage can lead to higher energy prices, as a reduced supply during periods of high demand, such as cold weather, may result in increased heating and electricity costs for households.
Last year, natural gas producers reduced the number of rigs to help stabilize prices, leading to a second consecutive year of decreased natural gas rigs. However, due to recent winter weather and the withdrawal of natural gas from storage, producers are now increasing the rig count, which is up by 3 percent compared to the week of February 24th. While this marks an increase in rigs from last week, the U.S. remains 14.3 percent lower than last year.
Looking Forward
U.S. natural gas futures rose significantly this past week, driven by record exports of liquefied natural gas (LNG) and strong international demand expected in the coming weeks. This surge is partly due to reports that Germany isn't negotiating with Russia for pipeline gas, which means Germany and other European countries will likely rely more on U.S. LNG. The U.S. is the world's largest LNG exporter, which is set to expand its export capacity with several new facilities this year, including the second phase of Plaquemines LNG. Once completed, along with the launch of Corpus Christi LNG Stage 3 exports, the EIA estimates that U.S. LNG production capacity will reach 15.4 Bcf/d, with a potential peak of 18.7 Bcf/d.
Since 2010, energy demand has risen significantly due to severe weather, fluctuations in both international and national gas markets, and various other factors. One rapidly growing influence on this demand is artificial intelligence (AI). NextEra Energy projects a 55 percent increase in power demand over the next 20 years, with 17 percent of that increase attributed to the growth of AI.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
In January and February, three major winter storms impacted numerous states across the U.S., particularly in the Midwest and several southern regions. These storms brought record snowfall and extremely low temperatures, which led to a substantial increase in the demand for natural gas for heating and significantly altered our natural gas storage levels.
Production and Demand
After these two months of severe weather, the U.S. is finally experiencing milder temperatures. As a result, the demand for heating has decreased, leading to a 14.5 percent reduction in total natural gas consumption compared to the week of February 24th. Power generation saw a 14.4 percent decline (4.7 Billion cubic feet (Bcf/d), and the industrial sector experienced a decrease of 3.9 percent (1.0 Bcf/d). However, the most significant drop occurred in the residential and commercial sectors, which fell by 21.1 percent (8.7 Bcf/d).
The U.S. storage levels are currently 24.9 percent (585 Bcf) lower than last year and 11.3 percent (224 Bcf) below the five-year average. Lower natural gas storage can lead to higher energy prices, as a reduced supply during periods of high demand, such as cold weather, may result in increased heating and electricity costs for households.
Last year, natural gas producers reduced the number of rigs to help stabilize prices, leading to a second consecutive year of decreased natural gas rigs. However, due to recent winter weather and the withdrawal of natural gas from storage, producers are now increasing the rig count, which is up by 3 percent compared to the week of February 24th. While this marks an increase in rigs from last week, the U.S. remains 14.3 percent lower than last year.
Looking Forward
U.S. natural gas futures rose significantly this past week, driven by record exports of liquefied natural gas (LNG) and strong international demand expected in the coming weeks. This surge is partly due to reports that Germany isn't negotiating with Russia for pipeline gas, which means Germany and other European countries will likely rely more on U.S. LNG. The U.S. is the world's largest LNG exporter, which is set to expand its export capacity with several new facilities this year, including the second phase of Plaquemines LNG. Once completed, along with the launch of Corpus Christi LNG Stage 3 exports, the EIA estimates that U.S. LNG production capacity will reach 15.4 Bcf/d, with a potential peak of 18.7 Bcf/d.
Since 2010, energy demand has risen significantly due to severe weather, fluctuations in both international and national gas markets, and various other factors. One rapidly growing influence on this demand is artificial intelligence (AI). NextEra Energy projects a 55 percent increase in power demand over the next 20 years, with 17 percent of that increase attributed to the growth of AI.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
In January and February, three major winter storms impacted numerous states across the U.S., particularly in the Midwest and several southern regions. These storms brought record snowfall and extremely low temperatures, which led to a substantial increase in the demand for natural gas for heating and significantly altered our natural gas storage levels.
Production and Demand
After these two months of severe weather, the U.S. is finally experiencing milder temperatures. As a result, the demand for heating has decreased, leading to a 14.5 percent reduction in total natural gas consumption compared to the week of February 24th. Power generation saw a 14.4 percent decline (4.7 Billion cubic feet (Bcf/d), and the industrial sector experienced a decrease of 3.9 percent (1.0 Bcf/d). However, the most significant drop occurred in the residential and commercial sectors, which fell by 21.1 percent (8.7 Bcf/d).
The U.S. storage levels are currently 24.9 percent (585 Bcf) lower than last year and 11.3 percent (224 Bcf) below the five-year average. Lower natural gas storage can lead to higher energy prices, as a reduced supply during periods of high demand, such as cold weather, may result in increased heating and electricity costs for households.
Last year, natural gas producers reduced the number of rigs to help stabilize prices, leading to a second consecutive year of decreased natural gas rigs. However, due to recent winter weather and the withdrawal of natural gas from storage, producers are now increasing the rig count, which is up by 3 percent compared to the week of February 24th. While this marks an increase in rigs from last week, the U.S. remains 14.3 percent lower than last year.
Looking Forward
U.S. natural gas futures rose significantly this past week, driven by record exports of liquefied natural gas (LNG) and strong international demand expected in the coming weeks. This surge is partly due to reports that Germany isn't negotiating with Russia for pipeline gas, which means Germany and other European countries will likely rely more on U.S. LNG. The U.S. is the world's largest LNG exporter, which is set to expand its export capacity with several new facilities this year, including the second phase of Plaquemines LNG. Once completed, along with the launch of Corpus Christi LNG Stage 3 exports, the EIA estimates that U.S. LNG production capacity will reach 15.4 Bcf/d, with a potential peak of 18.7 Bcf/d.
Since 2010, energy demand has risen significantly due to severe weather, fluctuations in both international and national gas markets, and various other factors. One rapidly growing influence on this demand is artificial intelligence (AI). NextEra Energy projects a 55 percent increase in power demand over the next 20 years, with 17 percent of that increase attributed to the growth of AI.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
In January and February, three major winter storms impacted numerous states across the U.S., particularly in the Midwest and several southern regions. These storms brought record snowfall and extremely low temperatures, which led to a substantial increase in the demand for natural gas for heating and significantly altered our natural gas storage levels.
Production and Demand
After these two months of severe weather, the U.S. is finally experiencing milder temperatures. As a result, the demand for heating has decreased, leading to a 14.5 percent reduction in total natural gas consumption compared to the week of February 24th. Power generation saw a 14.4 percent decline (4.7 Billion cubic feet (Bcf/d), and the industrial sector experienced a decrease of 3.9 percent (1.0 Bcf/d). However, the most significant drop occurred in the residential and commercial sectors, which fell by 21.1 percent (8.7 Bcf/d).
The U.S. storage levels are currently 24.9 percent (585 Bcf) lower than last year and 11.3 percent (224 Bcf) below the five-year average. Lower natural gas storage can lead to higher energy prices, as a reduced supply during periods of high demand, such as cold weather, may result in increased heating and electricity costs for households.
Last year, natural gas producers reduced the number of rigs to help stabilize prices, leading to a second consecutive year of decreased natural gas rigs. However, due to recent winter weather and the withdrawal of natural gas from storage, producers are now increasing the rig count, which is up by 3 percent compared to the week of February 24th. While this marks an increase in rigs from last week, the U.S. remains 14.3 percent lower than last year.
Looking Forward
U.S. natural gas futures rose significantly this past week, driven by record exports of liquefied natural gas (LNG) and strong international demand expected in the coming weeks. This surge is partly due to reports that Germany isn't negotiating with Russia for pipeline gas, which means Germany and other European countries will likely rely more on U.S. LNG. The U.S. is the world's largest LNG exporter, which is set to expand its export capacity with several new facilities this year, including the second phase of Plaquemines LNG. Once completed, along with the launch of Corpus Christi LNG Stage 3 exports, the EIA estimates that U.S. LNG production capacity will reach 15.4 Bcf/d, with a potential peak of 18.7 Bcf/d.
Since 2010, energy demand has risen significantly due to severe weather, fluctuations in both international and national gas markets, and various other factors. One rapidly growing influence on this demand is artificial intelligence (AI). NextEra Energy projects a 55 percent increase in power demand over the next 20 years, with 17 percent of that increase attributed to the growth of AI.
Missouri School Board Association
As the supplier of the MSBA Natural Gas Consortium, we hope you found this newsletter helpful and informative.
If you have any questions about your natural gas or the market, please contact Alan Pederson at 402-915-8378 and alan.pederson@woodriverenergy.com.
CUSTOMER CARE: Adding or removing contacts
PHONE: 720-617-1286
EMAIL: customercare@woodriverenergy.com
ACCOUNTING: Questions on invoices & payments
PHONE: 720-439-6514
EMAIL: AR@woodriverenergy.com
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