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Natural gas prices are down nearly 40% year to date amid a glut in supply and a milder-than-expected winter.But analysts see an upside for the commodity going into the end of the year — in part ...
Since bumping up against support at 2.75 in mid-September, liquified natural gas price have jumped 18 percent, hitting a high above $3.20 for the first time since February. Prompting this is news ...
U.S. oil production has been soaring to record highs this year, and as frackers unlock vast amounts of crude, natural gas comes out of the ground too—more than can be delivered to other areas ...
In 2011, world proved gas reserves were enough to last 58 years at 2011 production levels, even though the 2011 production rate was more than double the 1980 rate. [2] At current consumption levels, there are 52 years of proven gas reserves left. [3] However, proven gas reserves have been consistently increasing over time. [3]
Oil production in the Permian Basin is profitable, so the natural gas continues to be produced, but disposing of it is costly: producers must burn the gas (which is subject to regulations) or pay for space on existing pipelines. As a result, the price of natural gas becomes negative; in effect, producers of natural gas pay others to take it ...
Natural gas pipelines are impractical across oceans, since the gas needs to be cooled down and compressed, as the friction in the pipeline causes the gas to heat up. Many existing pipelines in the US are close to reaching their capacity, prompting some politicians representing northern states to speak of potential shortages.
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2021 United Kingdom natural gas supplier crisis and 2021 United Kingdom fuel supply crisis; 2021 global energy crisis. The record-high energy prices were driven by a global surge in demand as the world quit the economic recession caused by COVID-19 pandemic, particularly due to strong energy demand in Asia. [16] [17] [18]