RBN’s Daily Energy Blog and Insights sharpen your energy IQ through fundamentals-based analysis that makes sense of North America’s energy market dynamics.
European natural gas consumers would welcome the addition of low-cost liquefied natural gas (LNG) from the U.S. to their gas-supply mix. For one thing, they want to reduce their reliance on Russia and other potentially sketchy sources of pipeline gas.
In 2015 Alaskan crude has enjoyed something of a change in fortunes compared to the past few years – when shale production seemed to threaten its future. Production was up by over 50 Mb/d in the first 4 months of 2015 (according to the Energy Information Administration – EIA).
The U.S. energy production renaissance isn’t just changing where we get our crude oil and natural gas from, it’s forcing major shifts in the domestic oil refining sector.
CME/NYMEX Henry Hub natural gas futures prices for August delivery continue to trail $1.50/MMBtu behind year-ago levels and natural gas production volumes show little sign of softening. Gas demand is rallying to record-setting levels and the balance is tightening.
Data from the Energy Information Administration (EIA) shows that inland barge movements between the U.S. Midwest and the Gulf Coast increased 10 fold between January 2011 and October 2013 to nearly 160 Mb/d in response to soaring crude production and pipeline congestion.
The recently (re)announced Kinder Morgan Utica Marcellus Texas Pipeline (UMTP) is that company’s second iteration of a natural gas liquids (NGL) pipeline from Ohio to the Texas Gulf Coast.
U.S refiners have been processing a lot of crude so far this summer and utilization rates remain high. Crude production has leveled off and is expected by the Energy Information Administration’s (EIA) Short Term Energy Outlook to decline slightly during the second half of 2015.
Big changes are coming to the markets for natural gas, NGLs and crude oil.
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Over 400 Mb/d of Gulf Coast condensate splitter projects could be online by the end of 2016. These splitters will compete for condensate feedstock with local refineries in the Eagle Ford able to process 475 Mb/d of light crude and condensate.
Natural gas exports to Mexico are on a tear, and there’s every reason to believe the market will continue to grow.
