Posts Tagged ‘natural gas’

Renewable Energy News: Current Natural Gas Supply and its impact

Friday, October 5th, 2012

The natural gas market is one of constant flux. As we will explain throughout this blog, the state of natural gas changes on a weekly basis. According to the most recent industry reports, natural gas supply is up, but demand is down.

The Current State of Natural Gas in the United States

Marketed Production Levels: United States marketed natural gas production flattened in 2012 (see graph below). This is mainly in response to historically low natural gas prices. Still, production levels remain at all-time highs. Marketed natural gas production set a record high From January to July 2012, averaging 68.9 billion cubic feet per day (Bcf/d). This represented a 5.9% increase over 2011.

Storage Levels: According to the latest reports, natural gas storage levels are at 3,576 Bcf (billion cubic feet), representing historical highs. And these highs are only expected to increase by the end of October. In fact, the U.S. Energy Information Administration (EIA) estimates inventory levels will reach 3,950 Bcf, a new end-of-October record, according to EIA’s Short-Term Energy Outlook (STEO).

Current Prices: Natural gas currently sits around $2.92 per million British thermal units (MMBtu), averaging average $2.65 per MMBtu so far throughout 2012, according to EIA’s STEO.

Demand: According to the EIA, natural gas consumption declined by 5.2% last week compared to the week before. Still, natural gas demand is up 5.1% compared to the parallel week in 2011.

What this means for you: With storage levels higher than ever and prices near historic lows, homeowners using natural gas are expected to experience reduced costs this winter.

To learn more, please contact CQI Associates by calling 410-740-0667 or visit CQIAssociates.com today!

CQI Associates is a leader in energy and environmental consulting.

As a leader in the business and residential energy market, CQI Associates manages Commercial and Residential Energy Cooperatives in Maryland, Washington DC, Delaware, and Illinois. Our goal is to provide energy and environmental management services that allow our clients to increase profitability by minimizing operating costs.

We custom-tailor our services to suit each and every customer’s unique needs, a proven method that has produced significant results. We save the average customer 8–15% on an annual basis.

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Sources:

Natural Gas Supply

Natural Gas Weekly Update

Will Natural Gas Bounce Back after its Recent Tumble?

Image Sources:

Graph 1: U.S. Energy Information Administration, Natural Gas Monthly

Graph 2: U.S. Energy Information Administration based on Bloomberg, L.P.

 

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World Energy News: United States Domestic Energy Supplies

Friday, September 14th, 2012

The United States recently found itself in unfamiliar waters with an abundance of new domestic energy supplies. Not only has domestic oil production grown by 20% over the last five years, producing one million more barrels per day in 2012 than in 2007, but natural gas is now so plentiful and cheap (averaging $.595 per therm in July) that it could help relieve some of the country’s dependence on foreign oil.

Last month alone, the United States imported 337 Million barrels of oil from foreign countries, sending 34.6 billion dollars overseas.

“As we recover from this recession, the transition to clean energy has the potential to grow our economy and create millions of jobs – but only if we accelerate that transition.

The Current State of Natural Gas in the United States as of September 7th 2012

It was reported that at the end of last week, U.S. natural gas inventories expanded by 26 billion cubic feet (0.8%) to 3.428 trillion cubic feet as the result of increased demand brought on by high temperatures. Energy Department data shows that electricity generators account for 36% of U.S. gas consumption.

“Ongoing production losses due to Hurricane Isaac were one limiting factor on storage injections for last week, but cooling demand was stronger too,” said Tim Evans, an energy analyst at Citi Futures Perspective in New York. “With moderate temperatures anticipated over the next two weeks, storage injections will likely rebound to near average rates.”

To learn more, please contact CQI Associates by calling 410-740-0667 or visit CQIAssociates.com today!

CQI Associates is a leader in energy and environmental consulting.

As a leader in the business and residential energy market, CQI Associates manages Commercial and Residential Energy Cooperatives in Maryland, Washington DC, Delaware, and Illinois. Our goal is to provide energy and environmental management services that allow our clients to increase profitability by minimizing operating costs.

We custom-tailor our services to suit each and every customer’s unique needs, a proven method that has produced significant results. We save the average customer 8–15% on an annual basis.

You can also follow us on Facebook, Twitter, LikedIn, and Google+.

Sources:

Editorial: Natural gas production boom alters energy outlook

Monthly Oil Imports

Natural Gas Stockpile Gain Was Third of Normal, Analysts Say

Natural gas storage capacity up 3.3 pct: EIA

 

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