Commodity Market Report

North America gas short-term outlook: Lower for longer

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Natural gas production growth is slowing down, but will it be enough and in time to avert US gas storage containment? Declining gas drilling activity and deferred well completions are a harbinger for future supply declines but have less of an immediate impact to existing production levels that are still growing. As we enter the summer injection season, North American gas markets ask: • Will gas burns continue to outperform coal burns if higher prices return? • Will producers need to economically shut-in existing production? • How will seasonality impact LNG exports? In this update, we also extend our North America short-term market balances to 2025. Despite the next wave of LNG export projects, oversupplied markets are set to continue. Henry Hub gas prices may be lower for longer.

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What's included

This report contains:

  • Document

    May 2023 STO.pdf

    PDF 743.17 KB

  • Document

    Basis Outlook.xls

    XLS 85.50 KB

  • Document

    Demand Detail.xls

    XLS 815.00 KB

  • Document

    Industrial Index.xls

    XLS 91.50 KB

  • Document

    LNG Detail Incl Export.xls

    XLS 260.00 KB

  • Document

    NGL Price Outlook.xls

    XLS 451.50 KB

  • Document

    Northeast Takeaway Capacity.xlsx

    XLSX 405.71 KB

  • Document

    Power Demand Curve.xls

    XLS 81.00 KB

  • Document

    Price Outlook.xls

    XLS 95.50 KB

  • Document

    Storage Outlook.xls

    XLS 113.00 KB

  • Document

    Supply Demand Balances.xls

    XLS 278.50 KB

  • Document

    Supply Detail.xlsx

    XLSX 290.66 KB