PIRA Energy Group Releases Its Natural Gas Market Update for the Week Ending March 16

PIRA Energy Group Releases Its Natural Gas Market Update for the Week Ending March 16

New York City : NY : USA | Mar 21, 2012 at 5:29 PM PDT
Source: PRWeb
Views: Pending

Energy Group believes that North American gas prices continue to be bogged down by weather, sustained production growth, and storage builds. Globally, gas markets have been focused on increased Japanese demand, rather than the lack of demand growth in Europe. Rapid Canadian Natural Gas Storage Fills Will Result in Faster Exports During Cooling Season -- The lack of Lower 48 heating degree days threatens to trigger enough gas storage builds to push U.S. natural gas storage to all-time seasonal highs. Canada’s gas storage situation is a smaller-scale mirror image.

U.S. Storage Draw Greater Than Expected -- For the week ending March 9, the EIA announced a larger-than-expected gas storage draw. An already bearish fundamental landscape has turned even more ominous with weather being the main catalyst.

Europe Continues to Lose Unneeded Natural Gas Supply -- Europe continues to lose gas supply it does not need. This will remain the case until some type of gas demand recovery is seen in Europe. The next 45 days mark the steepest period of the year for seasonal gas demand losses, as the heating season gives way to a period prior to the cooling season. Japan's Increasing Demand for LNG Overshadows Decreasing Atlantic Basin Demand -- What is more important to spot price formation at the moment: increasing Asian demand or decreasing European and North American demand? Energy Group
3 Park Avenue, 26th Floor
New York, NY 10016-5989
Email: Sales (at) pira (dot) com
Tel: (212) 686-6808

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/3/prweb9315003.htm

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