As 2023 wrapped up one year ago, it seemed there were a lot of moving parts out there in energy markets. Capacity constraints were back on the radar screen, and while prices appeared stable, they were overshadowed by the looming threat of escalating conflicts in Ukraine and the Middle East. Opportunities abounded for energy projects, including natural gas storage, export terminals, and just about any pipeline that moved supply to the Gulf Coast. However, challenges kept popping up, from project delays like those faced by Canada’s Trans Mountain Expansion Project (TMX) to concerns about excessive nitrogen in Permian natural gas and what eventually evolved into the Biden administration's LNG “pause.”
As always, our job was to consult the RBN crystal ball and see what the year ahead would hold for energy markets. We did that last year, and we’ll do it again tomorrow. But another part of our tradition is to look back and evaluate how our forecasts for the previous year held up. That’s right! We actually check our work. And that’s exactly what we’ll do today: review our predictions for 2024.
So here’s our 2024 Prognostications report card. We’ll start at #10 and work our way down to #1.
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