EXPORT DEPENDENCE: THE U.S. NATURAL GAS STORY
|
|
- Lester Gilmore
- 5 years ago
- Views:
Transcription
1 Platts Analytics EXPORT DEPENDENCE: THE U.S. NATURAL GAS STORY Supply and Demand; Exports and Economics Rick Allen, Director, Consulting Services CoBank Energy Directors Conference June 28, 2017
2 Disclaimer Restrictions on Use: You may use the prices, indexes, assessments and other related information (collectively, Data ) in this presentation only for your personal use. You may not publish, reproduce, distribute, retransmit, resell, create any derivative work from and/or otherwise provide access to Data or any portion thereof to any person (either within or outside your company including, but not limited to, via or as part of any internal electronic system or Internet site), firm or entity. Disclaimer: Platts, its affiliates and all of their third-party licensors disclaim any and all representations and warranties, express or implied, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use as to the data, or the results obtained by its use or as to the performance thereof. Limitation of Liability: In no event whatsoever shall Platts, its affiliates or their third-party licensors be liable for any indirect, special, incidental, punitive or consequential damages, including but not limited to loss of profits, trading losses, or lost time or goodwill, even if they have been advised of the possibility of such damages, whether in contract, tort, strict liability or otherwise. The Data is provided on an as is basis and your use of the Data is at your own risk. Copyright 2016 by Platts, McGraw Hill Financial, Inc. All rights reserved. No portion of this publication may be photocopied, reproduced, retransmitted, put into a computer system or otherwise redistributed without prior authorization from Platts. Platts is a trademark of McGraw Hill Financial.
3 Key Takeaways Forecasted U.S. production growth is highly dependent on global export markets; more net exports (+10.9 ) than organic demand (+2.4 ) in the forecast Texas and Louisiana expect 90% of export market and 60% of all gains in industrial demand; region gets less long gas Rigs are returning after prices hit bottom; not enough yet to match forecasted demand Northeast pipeline expansions have delay risk; other supply basins need to grow to balance market Sub-$3 Henry Hub not feasible with demand growth forecasts; higher prices needed for gas growth in Southeast 3
4 Percent of Total Demand Natural Gas Exports Drive Demand Growth in Forecast 100 US Natural Gas Demand History and Outlook 18% % 14% 12% 10% 8% 6% 4% 2% ResComm Industrial PowerBurn Exports Exports Percent 0% 4
5 Exports: LNG
6 $/MMBtu Natural Gas LNG Commodity Cycle: Oversupply Again High Prices Drove Investments in Liquefaction; Market Length to Persist Global LNG Overs upply Global LNG Shortage Global Hydrocarbon Oversupply: Price Convergence JKM NBP HH Oil Indexed (14.85% JCC/Brent) Source: Platts Bentek 6
7 Global Liquefaction Capacity up 45% 2016 v Australia (6.4 ) and U.S. (10.1 ) are the Biggest Australia Cameroon Indonesia Malaysia Russia USA Global Liquefaction Capacity 19 additional Source: S&P Global Platts Analytics 7
8 2/1/2016 3/1/2016 4/1/2016 5/1/2016 6/1/2016 7/1/2016 8/1/2016 9/1/ /1/ /1/ /1/2016 1/1/2017 2/1/2017 3/1/2017 4/1/2017 5/1/2017 6/1/2017 $/MMBtu Natural Gas US LNG Margins Variable to Europe; Asia Mostly Positive $4.00 US LNG Netbacks by Region $3.00 $2.00 $1.00 $- $(1.00) NBP West India DES JKM Note: Netbacks calculated as destination-market sales price, minus 115% of Henry Hub promptmonth contract, minus shipping cost (assumes liquefaction tolling fee is sunk) Private & Confidential 8
9 Bcf Natural Gas Sabine Pass Exports by Country of Destination Argentina Brazil Chile China Dominica Egypt India Italy Japan Jordan Kuwait Mexico Netherlands Pakistan Portugal South Korea Spain Thailand Turkey United Arab Emirates On the Water Private & Confidential 9
10 Natural Gas Asia/Middle East Top Importing Nations of US LNG 26 Bcf 94 Bcf 186 Bcf 78 Bcf Roughly 470 Bcf of LNG has left Sabine Pass since April 2016: Asia and Middle East have taken 40% of LNG; Mexico is the largest consuming nation of US LNG (94 Bcf)
11 Natural Gas Mexico: LNG Imports January 2016 August
12 Natural Gas Mexico: LNG Imports September 2016 April
13 Exports: Mexico
14 Natural Gas Pipeline Imports to Mexico Keep Rising: Domestic Production Declining and Demand Growing Mexico Supply Stack Dry Production LNG Imports Southwest Exports Texas Exports 14
15 Natural Gas Texas-to-Mexico Corridors Add 7.4 by 2019 New Texas-to-Mexico Border Crossings Border Crossing Capacity MMcf/d City State In-Service Date West Texas Roadrunner Phase I 170 Clint Texas Mar-16 Roadrunner Phase II 400 Clint Texas Oct-16 Comanche Trail 1100 Clint Texas Jan-17 Trans-pecos Pipelnie 1400 Ojinaga Texas Apr-17 Roadrunner Phase III 70 Clint Texas Jun-19 Total 3140 South Texas NET Mexico/Los Ramones II 1100 Reynosa Texas Jun/Dec-16 Nueva Era Pipeline 600 Webb Texas Aug-17 Neuces-Brownsville 2600 Brownsville Texas Oct-18 Total 4300 Arizona Sierrita Gas Expansion 230 Sasabe Arizona Apr-20 Total
16 Natural Gas Mexican LNG Imports set to Rise in 2017 Pipeline Delays Driving Mexico back to the LNG Markets Mexico LNG Imports 5 Year Range 2017 Forecast 5 Year Avg Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: Platts Analytics' Bentek Energy Source: SENER, CFE 16
17 1/1/2010 8/1/2010 3/1/ /1/2011 5/1/ /1/2012 7/1/2013 2/1/2014 9/1/2014 4/1/ /1/2015 6/1/2016 1/1/2017 8/1/2017 3/1/ /1/2018 5/1/ /1/2019 7/1/2020 2/1/2021 9/1/2021 4/1/ /1/2022 Natural Gas Mexican Production adds High Side Risk for Imports Mexican Supply Profile US imports supply 70% in Dry Production Southwest Exports Source: Platts Bentek LNG Imports Texas Exports 17
18 Organic Demand Growth 18
19 Exports Drive Demand and Prompt Supply Growth US Natural Gas Fundamentals LNG: +8.5 Mexico: +2.4 Power: -1.4 Industrial: +1.6 Res/Com: +2.1 Res/Com Industrial Power Mexico Exports LNG Exports Production Source: Platts Analytics 19
20 Natural Gas Demand Growing at Fastest Pace Ever Incremental Demand Growth from 2016 Max historical demand growth in a 3-year period Res/comm/Industrial Exports to Mexico LNG Exports Power Burn 20
21 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2022 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015 1/1/2016 1/1/2017 1/1/2018 1/1/2019 1/1/2020 1/1/2021 1/1/2022 MW MW Natural Gas New Assumptions on Renewable Capacity 180, , , ,000 Wind Capacity 10% growth 70,000 60,000 50,000 Solar Capacity 12% growth 100,000 40,000 80,000 60,000 40,000 20,000 30,000 20,000 10, Wind Capacity Wind Project Pipeline Wind Projection Source: Platts Bentek Solar Capacity Solar Project Pipeline Solar Projection 21
22 Natural Gas Efficiencies add Downside Demand Risk Million houses in the US in 2009 Assume: 40 lightbulbs per house Average use of 3 hours a day Replace 20% with energy efficient bulbs (18 watt versus 100 watt) Translates to 231 GWh savings, or roughly 1.7 of gas burn equivalent
23 Natural Gas Power Burn Demand Grows at Slower Pace Source: Platts Bentek 23
24 Historical Recap: Where Are We? 24
25 MMBtu Equivalent Natural Gas Low Prices Killed Low Prices $25.00 Energy-equivalent Commodity Prices $20.00 $15.00 $10.00 $5.00 $- Brent WTI Mont Belvieu HH CAPP Source: S&P Global Platts Analytics 25
26 US RIG COUNTS: 3-Year Change 9/-43 CALIFORNIA 1/+0 OTHER ROCKIES 12/-6 8/-24 Rig Increases Dry Gas Focused Areas 0/+0 4/+0 Rig Increases Liquids-Rich/Oil Focused Areas 11/-21 29/-36 44/-118 POWDER RIVER WIND RIVER D-J GREEN RIVER UINTA SAN JUAN 7/-1 PICEANCE 0/+0 RATON PERMIAN 355/-178 WILLISTON ANADARKO 119/ / /-92 30/-49 46/+16 19/-4024/-12 25/+1 FT WORTH OTHER MIDCONTINENT EAST TX ILLINOIS 4/-6 ARK FAYETTEVILLE 44/-68 5/-18 2/-2 21/-14 6/-12 26/-21 TX GULF Rig Declines Source: Platts Analytics, May 2017 EAGLE FORD ARKLA 1/-12 MICHIGAN UTICA ARK WOODFORD 8/-1 LA GULF TX GULF AL-MS-FL OFFSHORE 1/-3 20/-21 OTHER APPALACHIAN MARCELLUS DRY MARCELLUS WET TOTAL 978 CHANGE Active rig count: May, 2017 / Change in rig count from May 2, 2017
27 US RIG COUNTS: 12-Month Change 8/+2 CALIFORNIA 14/+9 9/+3 2/+1 OTHER ROCKIES Rig Increases Dry Gas Focused Areas 0/+0 2/+1 Rig Increases Liquids-Rich/Oil Focused Areas 14/+12 28/+15 49/+ 31 POWDER RIVER WIND RIVER D-J GREEN RIVER UINTA SAN JUAN 9/+7 PICEANCE 0/+0 RATON PERMIAN 366/+226 WILLISTON ANADARKO 123/+61 14/+9 FT WORTH OTHER MIDCONTINENT 85/+54 43/+27 EAST TX 35/+27 9/+6 22/+13 44/+30 45/-6 ILLINOIS 5/+1 ARK FAYETTEVILLE 1/+1 ARK WOODFORD ARKLA 2/-6 LA GULF TX GULF MICHIGAN 2/+1 18/+10 UTICA 6/+2 AL-MS-FL OFFSHORE 1/-3 23/+14 24/+12 OTHER APPALACHIAN MARCELLUS DRY MARCELLUS WET TOTAL 1013 CHANGE +560 TX GULF Rig Declines Source: Platts Analytics, June 2017 EAGLE FORD Active rig count: June 2, 2017 / Change in rig count from June 3, 2016
28 US RIG COUNTS: 1 MONTH CHANGE 8/-1 CALIFORNIA 2/+1 OTHER ROCKIES 14/+2 9/+1 2/-2 Rig Increases Dry Gas Focused Areas 0/+0 Rig Increases Liquids-Rich/Oil Focused Areas 14/+3 28/-1 49/+5 POWDER RIVER WIND RIVER D-J GREEN RIVER UINTA SAN JUAN 9/+2 PICEANCE 0/+0 RATON PERMIAN 366/+15 WILLISTON ANADARKO 119/+8 17/-2 FT WORTH OTHER MIDCONTINENT 85/+5 43/+10 EAST TX 22/-2 44/-2 35/+5 9/+1 ILLINOIS 5/+1 2/-3 45/+1 MICHIGAN 6/+0 2/+0 18/-3 UTICA ARK FAYETTEVILLE ARK WOODFORD ARKLA AL-MS-FL LA GULF TX GULF 1/-1 OFFSHORE 1/-1 23/-3 24/+4 OTHER APPALACHIAN MARCELLUS DRY MARCELLUS WET TOTAL 1013 CHANGE +35 Rig Declines TX GULF EAGLE FORD Source: Platts Analytics, June 2017 Active rig count: June 5, 2017 / Change in rig count from May 5, 2017
29 U.S. Production Response
30 Natural Gas US Natural Gas Production Turning a Corner? US Gas Production production flat to last year at 72.1, but reaching 75.2 by Dec (+3.5 from current levels) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec forecast 30
31 IRR YEAR-OVER-YEAR IRR COMPARISION 35% 30% 25% May 2017 May % 15% 10% 5% 0% -5% -10% May 2017 Price Assumptions: Gas=12 month forward average curve for each regional pricing point (range $2.23- $3.30/Mcf) Oil=12 month forward average WTI +/- differential (range $ $49.90/barrel) NGLs=weighted average $/barrel, 12-mo forward average Mt. Belvieu prices (range $ $27.43/barrel)
32 Production Mix IRR Natural Gas Oil Plays are Impervious to Gas Price 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% IRR vs. Production Mix 35% 30% 25% 20% 15% 10% 5% 0% Oil NGL Gas IRR IRR at $0 Gas 32
33 IRR IRR SENSITIVITY TO HENRY HUB 60% 50% Support U.S. Production in Weak Price Environment Higher Pricing Drives Dry Gas Growth 40% 30% 20% 10% 0% -10% Low Gas Price Sensitivity High Gas Price Sensitivity $2.50 HH $3.00 HH $4.00 HH Henry Hub Sensitivity: Natural gas is based on Henry Hub at various prices +/- current regional differentials Oil and NGL prices remain at current 12-month forward curve prices for their respective regions
34 Northeast/Southeast/Texas Will Drive Growth to vs 2022 Change in Production by Region 34
35 6/1/2017 8/1/ /1/ /1/2017 2/1/2018 4/1/2018 6/1/2018 8/1/ /1/ /1/2018 2/1/2019 4/1/2019 6/1/2019 8/1/ /1/ /1/2019 2/1/2020 4/1/2020 6/1/2020 8/1/ /1/ /1/2020 Natural Gas Futures Prices Not High Enough for Southeast $4.00 $3.50 $3.00 $2.50 Forward Curves Haynesville Breakeven $2.00 $1.50 Marcellus Dry Breakeven Dominion S Henry Hub 35
36 Production Growth in East and Texas US Production ( ) Source: S&P Global Platts Analytics 36
37 Export Demand Growth Drives Production US Domestic Demand ( ) US Export Demand ( ) Source: S&P Global Platts Analytics 37
38 Excess NE Supply Drawn to USGC Northeast Texas Southeast Source: Platts Analytics 38
39 Bulk Capacity Planned for Southeast/Atlantic Production Takeaway Capacity with Official ISD s (18.4 ) Year Capacity East Canada 2.5 New England 2.4 TCO Pool 2.3 Southeast 5.7 Zone TETCO Adair/Access/Lebanon (622) 2. TGP SW-LA Access (100) 3. NatFuel Northern Access 2016 (350) 4. Nexus (1,500) 5. TCO Leach XPress (1,500) 6. TGP Broad Run (200) 7. ETP Rover (3,250) 8. Transco Atlantic Sunrise (1,700) 9. Constitution (650) 10. PennEast (1,100) 11. Millennium Eastern System Upgrade (200) 12. Mountain Valley Pipeline (2,000) 13. TCO Mountaineer XPress (2,700) 14. TCO WB Xpress (1,300) 15. Atlantic Coast Pipeline (1,500) 39
40 Non-Northeast Production
41 Rigs Natural Gas The Forgotten Basins Steadily Declining US Production from Marginal Basins Lost 1.5 in 2016 Projected to lose 1.3 in Arkoma Cherokee East Texas/Barnett Michigan Basin - MI Paradox Nemaha Uplift Piceance Palo Duro Powder River Raton San Juan Uinta Wind River Horizontal Rigs 41
42 $/bbl Natural Gas Associated Gas Production Reversing Declines $96 oil $93 oil $48 oil $40 oil $54 oil +2.5 $ $ $ $ $ $ $- Non-Northeast Associated Gas WTI Prices Non-NE Forecast WTI Forecast *Values in gray and blue boxes represent Jan Dec change Source: Platts Bentek Supply and Demand 42
43 Wells Permian Basin Gas IP Rates Better; Still Below Others 1,800 1,600 1,400 1,200 1, More than 60% of total wells drilled in the Permian in 2016 had IP rates less than 1 MMcf/d Number of Wells Cumulative Percent 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% IP rate (Mcf/d) Edit Footer in Headers & Footers 43
44 Natural Gas Higher Activity or Improved Efficiencies Could Have Profound Impact on Permian Gas Production 9 Permian Natural Gas Production Scenarios Gas IP rates have increased 60% from 2014 to 2016 Current IPs, 300 rigs +100 rigs, Same IP 300 rigs, 50% higher IP 44
45 Natural Gas Permian Threatens Gulf Coast Market Share 2 of growth over next 4 years Permian forecast: production & rigs 5 currently 6 by end of by early 2021 Rigs Delaware Basin-NM Delaware Basin-TX Midland Basin-TX Permian-TX Other Permian-NM Other Permian forecast Permian rigs Implied rig forecast 45
46 Natural Gas Haynesville is Poised For Rebound Haynesville Production Scenarios on Rig Counts Haynesville has 44 rigs operating enough to increase production by 1 from current mark by Dec assuming IP rate of 14 MMcf/d Declining History 10 rigs 20 rigs 30 rigs 40 rigs Private & Confidential 46
47 Key Takeaways Forecasted U.S. production growth is highly dependent on global export markets; more net exports (+10.9 ) than organic demand (+2.4 ) in the forecast Texas and Louisiana expect 90% of export market and 60% of all gains in industrial demand; region gets less long gas Rigs are returning after prices hit bottom; not enough yet to match forecasted demand Northeast pipeline expansions have delay risk; other supply basins need to grow to balance market Sub-$3 Henry Hub not feasible with demand growth forecasts; higher prices needed for gas growth in Southeast 47
48 Thank You Rick Allen, Director, Consulting Services
Natural Gas Market Update
Natural Gas Market Update Bob Yu, Senior Analyst Quantitative Modeling September 2017 Restrictions on Use: You may use the prices, indexes, assessments and other related information (collectively, Data
More informationU.S. Natural Gas and the Potential for LNG Export Growth
U.S. Natural Gas and the Potential for LNG Export Growth Presentation to: 2018 Wyoming Oil & Gas Fair By: John Harpole September 12, 2018 It is not a scarce resource anymore 2 US RIG COUNTS: Aug 2018
More informationU.S. Natural Gas and the Poten3al for LNG Export Growth
U.S. Natural Gas and the Poten3al for LNG Export Growth Presentation to: 2018 Wyoming Oil & Gas Fair By: John Harpole September 12, 2018 It is not a scarce resource anymore 2 US RIG COUNTS: Aug 2018 vs
More informationOIL AND GAS OUTLOOK: HOW ARE THE ENERGY MARKET AFFECTING METALS? Nicole Leonard, Project Manager, Oil & Gas Consulting Services November 2015
OIL AND GAS OUTLOOK: HOW ARE THE ENERGY MARKET AFFECTING METALS? Nicole Leonard, Project Manager, Oil & Gas Consulting Services November 2015 KEY TAKEAWAYS Macroeconomic outlook: Prices have collapsed
More informationNatural Gas Outlook and Drivers
Natural Gas Outlook and Drivers November 2012 33% BENTEK Energy 5% 40% Who We Are Based in Evergreen, CO 120 People 400+ Customers Subsidiary of McGraw-Hill/Platts 22% What We Do Collect, Analyze and Distribute
More informationNatural Gas Market Update
Natural Gas Market Update 2015 LDC/SCC Conference Fredericksburg, VA Chris Foster October 7, 2015 Restrictions on Use: You may use the prices, indexes, assessments and other related information (collectively,
More informationNatural Gas Supply/Demand Outlook
Natural Gas Supply/Demand Outlook Presentation to: The Fertilizer Outlook and Technology Conference Jacksonville, Florida By: John Harpole November 14, 2018 Fertilizer Industry vs. Natural Gas Industry
More informationNatural Gas Supply/Demand Outlook
Natural Gas Supply/Demand Outlook Presentation to: The Fertilizer Outlook and Technology Conference Jacksonville, Florida By: John Harpole November 14, 2018 Fertilizer Industry vs. Natural Gas Industry
More informationNatural Gas, Liquids and Crude Oil Market Outlook North America 2012 and Beyond
Natural Gas, Liquids and Crude Oil Market Outlook North America 2012 and Beyond August 14th, 2012 On behalf of: for: 1 BENTEK Energy Market Information Agenda: U.S. Supply, Demand and Storage Outlook Macro
More informationNATURAL GAS MARKETS, STRUCTURES, AND MECHANISMS
NATURAL GAS MARKETS, STRUCTURES, AND MECHANISMS Mitchell DeRubis, Senior Energy Analyst Bob Yu, Senior Energy Analyst Restrictions on Use: You may use the prices, indexes, assessments and other related
More informationWyoming Pipeline Authority Public Meeting. Anne Swedberg, Manager, North American Power and Gas Content
Wyoming Pipeline Authority Public Meeting Anne Swedberg, Manager, North American Power and Gas Content 2015 2014 Platts, McGraw Hill Financial. All rights reserved. Benposium 2015. Key Take-Aways US production
More informationNORTHEAST GAS MIDSTREAM
NORTHEAST GAS MIDSTREAM PREVIEW FundamentalEdge February 2018 learn more at drillinginfo.com Contents This is a PREVIEW of a 15+ Page Report Introduction and Key Takeaways 3 Northeast Gas Midstream 4 Production
More informationNortheast Drives US Basis Trends
Northeast Drives US Basis Trends Rocco Canonica, Director Energy Analysis September 2014 2014 Platts, McGraw Hill Financial. All rights reserved. Benposium 2014. Agenda 2014 Year of Extremes; Review Record
More informationWe ve Seen This Movie Before
The Dynamic Energy Landscape: Natural Gas in the U.S. We ve Seen This Movie Before October 26, 2015 Production of Natural Gas, NGLs & Crude Oil Bcf/d 75 70 65 60 55 50 U.S. Lower 48 Dry Gas Production
More informationNorth American Natural Gas Market Outlook
North American Natural Gas Market Outlook Energy Trends & Impacts On Gas Infrastructure Prepared For: Gas/Electric Partnership, Conference XVIII Darryl Rogers February 10, 2010 Agenda Introduction to Purvin
More informationMidcontinent, Canada, and West
Midcontinent, Canada, and West How will western markets fare as eastern supply tries to find a home? John Hilfiker May 17, 217 Energy Analyst Restrictions on Use: You may use the prices, indexes, assessments
More information[LNG MARKET ANALYSIS ] 1. LNG Market Analysis
[LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 6 th April 2018 [LNG MARKET ANALYSIS ] 2 LNG and Natural Gas Price Assessment 26 th March 6 th April 2018 LNG Analysis Global LNG
More informationAccessing New Markets for Rockies Natural Gas
Accessing New Markets for Rockies Natural Gas Presentation to: 2018 Uinta Basin Energy Summit By: John Harpole August 30, 2018 It is not a scarce resource anymore 2 Hydraulic Fracturing Pumping fluid under
More informationENERGY OUTLOOK 2017 FALL/WINTER
ENERGY OUTLOOK 2017 FALL/WINTER With more than 105 years in the energy industry, BOK Financial is committed to helping you succeed. In this issue of the Energy Outlook, you ll learn more about the current
More informationWinter U.S. Natural Gas Production and Supply Outlook
Winter 2012-13 U.S. Natural Gas Production and Supply Outlook Prepared for Natural Gas Supply Association by: ICF International Fairfax, Virginia September, 2012 Introduction This report presents ICF s
More informationWinter U.S. Natural Gas Production and Supply Outlook
Winter 2010-11 U.S. Natural Gas Production and Supply Outlook Prepared for Natural Gas Supply Association by: ICF International Fairfax, Virginia September, 2010 Introduction This report presents ICF s
More informationGlobal energy markets
For Woodrow Wilson Center Global Energy Forum September 21, 215 Washington, DC by Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent
More informationU.S. Natural Gas Markets Where Is It All Going to Go?
U.S. Natural Gas Markets Where Is It All Going to Go? October 19, 217 Today s Agenda» Current Natural Gas Market Production Shifting gas flows Demand LNG, Power and Mexico Evolving values basis and price»
More information2005 North American Natural Gas Outlook Client Presentation
2005 North American Natural Gas Outlook Client Presentation January 17, 2005 Ron Denhardt Vice President, Natural Gas Services Strategic Energy & Economic Research Inc. 781 756 0550 (Tel) Copyright 2004
More informationShale Gas and U.S. LNG Exports. Vienna, January 29, 2013 Jean Abiteboul President, Cheniere Supply & Marketing
Shale Gas and U.S. LNG Exports Vienna, January 29, 2013 Jean Abiteboul President, Cheniere Supply & Marketing Forward Looking Statements This presentation contains certain statements that are, or may be
More informationNEXUS Gas Transmission
NEXUS Gas Transmission Bringing New Supplies to Market Ohio Manufacturers Association - October 2012 Agenda Project Introduction Utica and Marcellus Gas Supply Michigan and Ontario Markets Conclusion &
More informationBusiness Development Outlook. Paul Smith Director, Business Development
Business Development Outlook Paul Smith Director, Business Development 1 Development Trends TGP projects nearing in-service Supply Push: Susquehanna West: 145k In Service (9/1) Orion: 135k 11/1/2017 Broad
More informationTrends, Issues and Market Changes for Crude Oil and Natural Gas
Trends, Issues and Market Changes for Crude Oil and Natural Gas East Iberville Community Advisory Panel Meeting Syngenta September 26, 2012 Center for Energy Studies David E. Dismukes, Ph.D. Center for
More informationOil and natural gas: market outlook and drivers
Oil and natural gas: market outlook and drivers for American Foundry Society May 18, 216 Washington, DC by Howard Gruenspecht, Deputy Administrator U.S. Energy Information Administration Independent Statistics
More informationIncreasing Industrial Demand As Easy (or not) as 1, 2, 3
Increasing Industrial Demand As Easy (or not) as 1, 2, 3 Marcellus & Manufacturing Conference Charleston, WV March 23, 2016 API s Market Development Group API is the only national trade association representing
More informationThe Really Big Game Changer: Crude Oil Production from Shale Resources and the Tuscaloosa Marine Shale
The Really Big Game Changer: Crude Oil Production from Shale Resources and the Tuscaloosa Marine Shale Baton Rouge Chamber of Commerce Regional Stakeholders Breakfast June 27, 2012 Center for Energy Studies
More informationENERGY SLIDESHOW. Federal Reserve Bank of Dallas
ENERGY SLIDESHOW Updated: July 5, 2018 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 120 Brent (Jun 29 = $75.24) WTI (Jun 29 = $74.03) 95%
More informationENERGY SLIDESHOW. Federal Reserve Bank of Dallas
ENERGY SLIDESHOW Updated: February 14, 2018 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 Brent (Feb 9 = $65.50) WTI (Feb 9 = $62.01) 120
More informationIMGA Annual Meeting- NG Fundamentals Update. March 28, 2017
IMGA Annual Meeting- NG Fundamentals Update Presenter Trevor Cooper Name / Date March 28, 2017 Disclaimer Copyright. All rights reserved. Contents of this presentation do not necessarily reflect the Company
More information24 September 2015 NORTH AMERICAN GAS OUTLOOK
NORTH AMERICAN GAS OUTLOOK WORKING GAS STORAGE FORECAST (BCF) 4,5 4, 3,996 3,5 3, 2,5 2, 1,5 1, 5 1,93 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 21-14 range 215 216 Source: Bloomberg New Energy Finance
More informationUS NATURAL GAS & CRUDE OIL MARKET ANALYSIS: PRESENT & FUTURE STUDY. Drillinginfo Market Intelligence December 2017
US NATURAL GAS & CRUDE OIL MARKET ANALYSIS: PRESENT & FUTURE STUDY Drillinginfo Market Intelligence December 2017 AGENDA Three key parts to this presentation: 1. Crude Oil Market Analysis 2. Natural Gas
More informationAIChE: Natural Gas Utilization Workshop Overcoming Hurdles of Technology Implementation
AIChE: Natural Gas Utilization Workshop Overcoming Hurdles of Technology Implementation Natural Gas in the United States: An Overview of Resources and Factors Affecting the Market November 2, 216 Justin
More informationOil & Gas Production Monitor
For Questions contact Matt Andre at ProductionGroup@bentekenergy.com Oil & Gas Production Rig Count This Month Last Month National 937 993 PADD I 46 48 71 76 Inside This Issue Marcellus Dry Pg. 9 North
More informationWhiplash: 2019 s Changing Fortunes
Whiplash: 2019 s Changing Fortunes Kathryn Downey Miller, CFA February 28, 2019 info@btuanalytics.com BTU Analytics BTU Analytics is a data-driven energy market analytics firm focused on providing clear
More informationPlatts NGLs Conference. September 24, 2013
Platts NGLs Conference September 24, 2013 Agenda 2013 - Executing the Plan 2014 Responding to Delineation Results 2015 Major Ramp Up 2016 Utica to Reach 50% of Marcellus Wet Conclusions 1 Executing the
More informationGas and Crude Oil Production Outlook
Gas and Crude Oil Production Outlook COQA/CCQTA Joint meeting October 3-31, 214 San Francisco, California By John Powell Office of Petroleum, Natural Gas, and Biofuels Analysis U.S. Energy Information
More information[LNG MARKET ANALYSIS ] 1. LNG Market Analysis
[LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 20 th April 2018 LNG and Natural Gas Price Assessment 14 th 20 th April 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Global LNG prices
More informationA Tale of Two Fuels - Crude Oil and Natural Gas Supply. Private Capital Conference February 24, 2011 Houston, TX
A Tale of Two Fuels - Crude Oil and Natural Gas Supply Private Capital Conference February 24, 2011 Houston, TX Henry Hub Natural Gas vs. WTI Crude $/MMBTU $14 $12 $10 $8 $6 $4 $2 Henry Hub WTI 160 140
More informationU.S. Shale Gas in Context
U.S. Shale Gas in Context Overview of U.S. Natural Gas production and trends For National Conference of State Legislatures Natural Gas Policy Institute September 9, 215 Pittsburgh, Pennsylvania By Grant
More information[LNG MARKET ANALYSIS ] 1. LNG Market Analysis
[LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 23 rd March 2018 [LNG MARKET ANALYSIS ] 2 LNG Price Assessment and Natural Gas 12 th 23 rd March 2018 LNG Analysis Global LNG prices
More informationEnergy in 2011 disruption and continuity
June 212 bp.com/statisticalreview Energy in 211 disruption and continuity Richard de Caux, Refining Analyst, Group Economics Outline A year of disruptions Energy and the economy Fuel by fuel Concluding
More informationEnergy and commodity price benchmarking and market insights
Energy and commodity price benchmarking and market insights London, Houston, Washington, New York, Portland, Calgary, Santiago, Bogota, Rio de Janeiro, Singapore, Beijing, Tokyo, Sydney, Dubai, Moscow,
More informationU.S. Historical and Projected Shale Gas Production
U.S. Historical and Projected Shale Gas Production Phyllis Martin Phyllis Martin, Senior Energy Analyst Office of Petroleum, Gas and Biofuels Analysis U.S. Energy Information Administration phyllis.martin@eia.doe.gov
More information[LNG MARKET ANALYSIS ] 1. LNG Market Analysis
[LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 13 th April 2018 LNG and Natural Gas Price Assessment 3 rd 13 th April 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Global LNG prices
More informationEnergy in 2011 disruption and continuity
June 212 bp.com/statisticalreview Energy in 211 disruption and continuity Paul Appleby, Head of Energy Economics Outline A year of disruptions Energy and the economy Fuel by fuel Concluding remarks Energy
More informationNorth American Crude Oil and Natural Gas Too Much Too Soon!
North American Crude Oil and Natural Gas Too Much Too Soon! Energy and Water Executive Forum August 9, 2018 Crude Oil, Natural Gas and Product Prices $105 250 2017 $18 $/Bbl $84 $63 $42 $21 c/gal 200 150
More information$40 Billion Ichthys LNG Project Begins Gas Exports US' Range Resources to fill Rover gas pipeline volumes by yearend; processing ramps up
Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 14: O C T O B E R 2 5, 2 1 8 3.26 3.24 3.22 3.2 3.18 3.16 3.14 3.12 3.1
More informationNavigating the Uncertainties in the North American Gas Market
Interesting Times: Navigating the Uncertainties in the North American Gas Market Ed Kelly Vice President North American Gas and Power Wood Mackenzie Risks and Uncertainties On the Supply Side The Resource
More informationOVERVIEW OF DESERT SOUTHWEST POWER MARKET AND ECONOMIC ASSESSMENT OF THE NAVAJO GENERATING STATION
OVERVIEW OF DESERT SOUTHWEST POWER MARKET AND ECONOMIC ASSESSMENT OF THE NAVAJO GENERATING STATION ARIZONA CORPORATION COMMISSION APRIL 6, 2017 DALE PROBASCO MANAGING DIRECTOR ROGER SCHIFFMAN DIRECTOR
More informationCERI Commodity Report Natural Gas
September 1 CERI Commodity Report Natural Gas Natural Gas Prices Paul Kralovic The Commodity Report Natural Gas article, Turm-oil in the Natural Gas Markets, released in February 1, explored the low natural
More informationNatural Gas Next: The Rockies and the West
Natural Gas Next: The Rockies and the West Callie Kolbe, Manager, Energy Analysis Sadie Fulton, Senior Energy Analyst September 25, 2017 Jordan Cove Back again? There is even more gas? NIMBY! Renewable
More informationCHENIERE ENERGY, INC. How is the Rest of the World s LNG Interfacing With Europe?
CHENIERE ENERGY, INC. How is the Rest of the World s LNG Interfacing With Europe? European Gas Conference - Vienna Andrew Walker VP LNG Strategy January 23, 18 2 Safe Harbor Statements Forward-Looking
More informationOil and gas outlook. For New York Energy Forum October 15, 2015 New York, NY. By Adam Sieminski, Administrator. U.S. Energy Information Administration
Oil and gas outlook For New York Energy Forum New York, NY By Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis
More informationOil. Gas. Market Notes. North American Natural Gas Market Outlook Year-End 2014: A View to Contents
Oil Gas Market Notes Contents 1 North American Natural Gas Market Outlook Year-End 214: A View to 235 9 Natural Gas Market Charts 12 Oil Market Charts 16 Legislative and Regulatory Highlights 17 About
More informationWorld and U.S. Oil and Gas Production and Price Outlook: To Infinity (or at least 2050) and Beyond
World and U.S. Oil and Gas Production and Price Outlook: To Infinity (or at least 25) and Beyond Energy and Environment Symposium April 18, 218 Rifle, Colorado by Troy Cook, Senior Global Upstream Analyst,
More informationPerformance of Industry Shale Plays. Rob Sutton February 23, 2010
Performance of Industry Shale Plays Rob Sutton February 23, 21 U.S. Shale Plays Swift Bakken Antrim Nortonville Paradox Gallup New Albany Brown Coffee Devonian Marcellus Ohio Queenston Abo Waddell Barnett
More informationAn overview of the global LPG market and its impact in Latin America
An overview of the global LPG market and its impact in Latin America Rio de Janeiro, 33 rd AIGLP Conference Vanessa Viola SVP Latin America, Argus March 218 London Houston Moscow Singapore Dubai New York
More informationForecasts and Assumptions for IRP. Prepared for PNM September 2016
Forecasts and Assumptions for IRP Prepared for PNM September 2016 Answers for infrastructure and cities. Pace Global Disclaimer This Report was produced by Pace Global, a Siemens business ( Pace Global
More informationGlobal LNG Market dynamics, key trends and market outlook
REUTERS / Anne Kat Brevik Global LNG Market dynamics, key trends and market outlook December 14, 217 What to address Market dynamics, key trends and market outlook The role and outlook for U.S. LNG China
More informationU.S. Natural Gas Market Dynamics
U.S. Natural Gas Market Dynamics University of Houston Global Energy Management Institute The Future of the Gulf Coast Petrochemical Industry Michael Speltz April 29, 2005 ChevronTexaco 2002 Legal Disclaimer
More informationCopyright 2018 RBN Energy. Permian Global Access Pipeline (PGAP) Natural Gas Market Analysis
Permian Global Access Pipeline (PGAP) Natural Gas Market Analysis Permian Global Access Pipeline (PGAP)» Natural gas production growth in the Permian will continue to accelerate, resulting in outbound
More informationSubstantial Changes Ahead for MISO North Michigan Impacts 2018 MMEA Fall Conference
Substantial Changes Ahead for MISO North Michigan Impacts 2018 MMEA Fall Conference Mike Zenker, Managing Director of Market Analysis NextEra Energy Resources September 13, 2018 2 3 The Following Information
More informationEvaluating the Impacts of Market Shifts on Local Markets and Assets. Ron Norman May 20, 2009
Evaluating the Impacts of Market Shifts on Local Markets and Assets Ron Norman May 20, 2009 Gas market outlooks are only one component of an effective marketing or procurement strategy Agenda Gas Market
More informationNorth American Gas: The New Big Picture. Jen Snyder North America Gas Research Wood Mackenzie 2010 Summer Seminar August 2, 2010
North American Gas: The New Big Picture Jen Snyder North America Gas Research Wood Mackenzie 20 Summer Seminar August 2, 20 Cost Advances Continue to Redraw the Big Picture Improving Economics for Southwestern
More informationNORTH AMERICAN NATURAL GASOLINE
NORTH AMERICAN & NATURAL GASOLINE Condensate Outlook KEY TAKEAWAYS NORTH AMERICAN NATURAL GASOLINE & Condensate Outlook Overview Only Contact BENTEK to subscribe. For more information about BENTEK's industry-leading
More informationEuropean Gas Price, Volatility & Security of Supply
European Gas Price, Volatility & Security of Supply Dr. Ashna Rahman Head of Analytics & Consulting (EMEA) September, 213. 213 Platts, McGraw Hill Financial. All rights reserved. Key Points European gas
More informationENERGY WATCH Authors: Paul Flemming, Julia Criscuolo, Oliver Kleinbub, José Rotger and Scott Niemann
NORTHEAST POWER MARKETS ENERGY WATCH Authors: Paul Flemming, Julia Criscuolo, Oliver Kleinbub, José Rotger and Scott Niemann In light of recent growth in natural gas production growth and expected costs
More informationThe Shifting Sands of Natural Gas Abundance
August 17, 2016 The Shifting Sands of Natural Gas Abundance Richard Meyer Manager, Energy Analysis & Standards Here s how global energy changed between 2014 and 2015. Winners were oil, natural gas, renewables.
More information[LNG MARKET ANALYSIS ] 1. LNG Market Analysis
[LNG MARKET ANALYSIS ] 1 LNG Market Analysis LNG Market Analysis Volume: 8 th June 2018 LNG and Natural Gas Price Assessment 28 th May 8 th June 2018 [LNG MARKET ANALYSIS ] 2 LNG Analysis Stable to bullish
More informationEnergy Market Outlook Webinar. December, 2017
Energy Market Outlook Webinar December, 2017 Today s Webinar Agenda Winter Weather Outlook Short-term temperature outlooks Winter weather forecasts colder winter than a year ago? Short-Term Market Fundamentals:
More informationNorth American Gas: A dynamic environment. Josh McCall BP North American Gas and Power November 16, 2011
North American Gas: A dynamic environment Josh McCall BP North American Gas and Power November 16, 2011 Disclaimer Copyright BP Energy Company. All rights reserved. Contents of this presentation do not
More informationTexas Natural Gas Prices Plunge To All-Time Low Column: U.S. natural gas prices unmoved by colder winter, low
2.69 2.69 2.68 2.68 2.67 2.67 2.66 2.66 2.65 2.65 2.64 Prior Day s NYMEX MAY-19 Contract (CT) 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19
More informationBrian A. Habacivch Constellation, Commodities Management Group October 20, 2018
North American Energy Outlook The Transformative Role of Shale in the Global Hydrocarbons Market Why It Matters to Commercial, Institutional, and Industrial End Users Brian A. Habacivch Constellation,
More informationConnecting Supply Options GasMart May 21, 2008, Chicago
Connecting Supply Options GasMart May 21, 2008, Chicago Dean Ferguson, VP Marketing, Business Development & Regulatory Affairs, U.S. Pipeline Central Forward-Looking Information 2 This presentation may
More information2016 Propane Market Outlook: Driving Change in Consumer Propane Markets
0 2016 Propane Market Outlook: Driving Change in Consumer Propane Markets NPGA Southeastern Convention & International Propane Expo April 8, 2016 Presented by: Michael Sloan ICF International 9300 Lee
More informationMARKET COMMENTARY. Energy and Sustainability Solutions Energy Market Roundup. North America. November 20, 2014 MARKET FUNDAMENTALS OIL PRICE UPDATE
PRICING As unseasonably cold weather and early season snowstorms have blanketed much of the Midwest and Northeast, and natural gas market volatility has reacted predictably. Volatility in the prompt month
More informationMex Exports 0.5. Bcf/d Change April 2012 YTD versus Same Period in 2011
1 Production Efficiency, Mild Winter Stifle 2012 Market. Power Burn Reignites Market to Slow Burning Flame. Power, Industrial, LNG Exports Will Add Fuel to the Fire Going Forward Abundant Resources, Massive
More informationBLM Suspends Natural Gas Waste Standards
Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 14: Prior Day s NYMEX Jan-18 Contract (CT) 2.86 2.84 2.82 2.8 2.78 2.76
More informationMexico steel execs call for competitive natural gas, cohesive industrial. Second Canadian liquefied natural gas project set to go ahead in early 2019
Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 14: 3.26 3.24 3.22 3.2 3.18 3.16 3.14 3.12 3.1 3.8 3.6 Prior Day s NYMEX
More informationSTATE OF MICHIGAN BEFORE THE MICHIGAN PUBLIC SERVICE COMMISSION
STATE OF MICHIGAN BEFORE THE MICHIGAN PUBLIC SERVICE COMMISSION In the matter of the Application of ) DTE ELECTRIC COMPANY for ) approval of Certificates of Necessity ) pursuant to MCL 460.6s, as amended,
More informationCenterPoint Energy Services. Current Market Fundamentals June 27, 2013
CenterPoint Energy Services Current Market Fundamentals June 27, 2013 CenterPoint Energy is one of the largest combined electric and natural gas delivery companies in the U.S. Asset portfolio CNP Footprint
More informationCERI Commodity Report Natural Gas
March 15 CERI Commodity Report Natural Gas Analyzing Rig In-Activity Paul Kralovic Despite the West Texas Intermediate (WTI) oil price rebounding from a low of US$3.39 per barrel on March 17, 15 to US$55.
More informationMajor Challenges for Gas: What Can be Expected for Mexico?
Major Challenges for Gas: What Can be Expected for Mexico? Gas Future Forum, Mexico, April 3, 2014 BEG/CEE UT, 1 Overall Observations Resources Reserves Deliverability Deliverability is key Sweet spot
More informationOutlook for Gas Markets
IEEJ IEEJ:Published 2015 年 7 in 月 August 禁無断転載 2015 All rights reserved The 420th Forum on Research Work July 10, 2015 Outlook for Gas Markets The Institute of Energy Economics, Japan Tetsuo Morikawa Manager,
More informationThe Evolving Global LNG Industry South Africa Gas Options, Cape Town, 3 rd 5 th October 2016
The Evolving Global LNG Industry South Africa Gas Options, Cape Town, 3 rd 5 th October 2016 John Mauel Head of Energy Transactions, United States Norton Rose Fulbright US LLP An industry in transformation
More informationNavigating through the energy landscape.
Navigating through the energy landscape. Baton Rouge Rotary Club Luncheon, May 24, 2017. David E. Dismukes, Ph.D. Executive Director & Professor Center for Energy Studies Louisiana State University Professor
More informationNatural Gas Issues and Emerging Trends for the Upcoming Winter and Beyond
Natural Gas Issues and Emerging Trends for the Upcoming Winter and Beyond 2013 NASEO WINTER ENERGY OUTLOOK CONFERENCE November 1, 2013 Kevin Petak Vice President, ICF International Kevin.Petak@icfi.com
More informationDelivering Supply Options LDC Forum June 1, 2008, Boston. Tim Stringer Manager, U.S. Northeast Markets
Delivering Supply Options LDC Forum June 1, 2008, Boston Tim Stringer Manager, U.S. Northeast Markets Forward-Looking Information 2 This presentation may contain certain information that is forward looking
More informationIndependent expert to conduct sweeping safety review of natural gas networks in Mass. Natural gas pipeline will cross county
Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 8: 8:45 9:3 1:15 11: 11:45 12:3 13:15 14: S E P T E M B E R 2 7, 2 1 8 3.1 3.8 3.6 3.4 3.2 2.98 2.96 2.94 Prior
More informationPonzi Scheme Keeps US Market Well Supplied
www.poten.com June 30, 2011 Ponzi Scheme Keeps US Market Well Supplied Conjuring up images of the dot-com bubble of the late-1990s, the industry leveled charges of unprofessional journalism against a story
More informationChallenges For Produced Water Optimization In The Permian: An Analysis Of SWD Supply and Demand
Challenges For Produced Water Optimization In The Permian: An Analysis Of SWD Supply and Demand January 31, 2017 We Deliver Software Based Insights and Solutions For Digital Oilfield Water Management 2
More informationWEEKLY MARKET UPDATE
WEEKLY MARKET UPDATE Weekly Summary: The U.S. Energy Information Administration reported last week that natural gas storage decreased by 183 Bcf. The withdrawal for the same week last year was 230 Bcf
More informationCERI Commodity Report Natural Gas
CERI Commodity Report Natural Gas November-December 15 The Energy Information Administration s New Storage Classifications Paul Kralovic November 19, 15 was an important date for the Energy Information
More informationFundamentals. Summer 2018
Fundamentals Summer 2018 Cautionary statements Forward-looking statements The information in this presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act
More informationLSU Natural Gas Conference
LSU Natural Gas Conference Presented by: Bob Purgason VP Gulfcoast Region Williams Companies Introduction Structural shift in natural gas pricing The crude to gas ratio: A critical relationship for NGL
More information