Commodity market report

North America gas markets April short-term outlook: a price bump over the summer, but we could be long production next year

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Report summary

In April the gas market is a series of contradictions. Warmer than normal weather is bearish for this month but possibly bullish for May. 2017 looks short production but 2018 looks long. There's progress with some Northeast pipelines but stalls for others. With the anticipated uptick in gas prices this summer coal could be expected to take some of the power burn but coal market tightness and lacks of miners time and capital may restrict expansions in coal production. Such restrictions may be warranted as gas production next year will far outstrip market growth: Northeast pipelines come online this winter Haynesville producers reap gains from increased capex commitments and Permian associated gas is protected from downside by oil hedges. All of this suggests the strongest ever year of US gas production growth in 2018 and even with LNG exports ramping up Henry Hub prices next year could average $3.20/mmbtu.

What's included

This report contains

  • Document

    Basis Outlook.xls

    XLS 129.50 KB

  • Document

    Demand Detail.xls

    XLS 670.00 KB

  • Document

    Industrial Index.xls

    XLS 121.00 KB

  • Document

    LNG Detail incl Export.xls

    XLS 220.50 KB

  • Document

    NGL Price Outlook.xls

    XLS 116.50 KB

  • Document

    Northeast Takeaway Capacity.xls

    XLS 495.50 KB

  • Document

    Power Demand Curve.xls

    XLS 124.50 KB

  • Document

    Price Outlook.xls

    XLS 136.00 KB

  • Document

    Storage Outlook.xls

    XLS 149.00 KB

  • Document

    Supply Demand Balances.xls

    XLS 306.00 KB

  • Document

    Supply Detail.xls

    XLS 278.00 KB

  • Document

    North America gas markets April short-term outlook: a price bump over the summer, but we could be long production next year

    PDF 472.55 KB

  • Document

    North America gas markets April short-term outlook: a price bump over the summer, but we could be long production next year

    ZIP 1.92 MB

Table of contents

  • Executive summary
  • Infrastructure
  • Supply
  • Demand
  • LNG
  • Regional

Tables and charts

This report includes 16 images and tables including:

Images

  • Chart 1: Weather adjusted withdrawals still strong
  • Completions
  • San Juan rig count
  • Lower 48 dry gas production forecast
  • Twelve-month industrial demand forecast
  • Feedgas projections by terminal
  • Henry Hub price outlook
  • Destinations for Northeast supply
  • Basis outlook

Tables

  • US storage inventories (bcf)
  • Key supply metrics and indicators
  • Short-term price outlook
  • US supply-demand outlook (bcfd)
  • Canada supply-demand outlook (bcfd)
  • Major projects
  • Mexico supply-demand outlook (bcfd)

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