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December 12, 2022

December 2022 Energy News

The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.

Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.  

International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.

To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.

Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.

Market Data:

December 12, 2022

Weekly Natural Gas Storage (Values listed in Bcf)
Year to Year 5-year average
Region 11/02/22 11/25/21 net change Bcf net change
East 834 846 -1.4 852 -2.1
Midwest 1028 1022 0.6 1023 0.5
Mountain 193 206 -6.3 205 -5.9
Pacific 217 266 -18.4 284 -23.6
South Central 1191 1173 1.5 1157 2.9
Total 3,462 3,513 -1.5 3,520 -1.6
CME (Henry Hub) Natural Gas Futures (Values listed in dekatherms) 
Date Price
12/1/22 $6.03
11/1/22 $4.57
10/12/22 $6.60
9/13/22 $8.49
8/9/222 $7.87
7/12/22 $6.81
6/14/22 $7.68
5/17/22 $8.26
4/4/22 $5.72
3/7/22 $4.93
2/8/22 $4.30
1/11/22 $4.16
12/7/21 $3.60
11/5/21 $5.33
10/4/21 $5.80
9/13/21 $5.21
8/13/21 $3.95
7/6/21 $3.68
https://www.eia.gov/dnav/ng/hist/rngwhhdD.htm
Utility Costs of Gas (Values listed in dekatherms)
Month Mid American - IA Alliant - IA Black Hills - IA Black Hills - NE Xcel Small Volume Xcel Large Volume Kansas Gas Service Midwest Energy
December '22 $7.94 $8.72 $9.01 $8.76 $10.04 $9.99 $8.89 $7.77
November '22 $6.58 $8.54 $7.34 $7.82 $10.04 $9.99 $9.21 $7.89
October '22 $6.16 $8.06 $6.72 $6.76 $10.04 $9.99 $12.21 $10.76
September '22 $9.60 $9.33 $9.27 $9.65 $9.38 $9.32 $12.26 $10.86
August '22 $5.79 $5.09 $6.50 $9.26 $9.38 $9.32 $10.36 $8.89
July '22 $6.45 $3.08 $4.54 $7.22 $9.38 $9.32 $10.99 $10.05
June '22 $10.33 $9.48 $4.97 $9.18 $5.27 $5.22 $9.80 $9.41
May '22 $9.16 $6.34 $5.50 $6.69 $5.27 $5.22 $8.61 $7.90
April '22 $9.81 $5.56 $6.78 $6.03 $5.27 $5.22 $8.22 $7.03
March '22 $9.29 $6.62 $6.78 $5.53 $4.93 $4.87 $8.35 $8.43
February '22 $9.25 $8.01 $6.86 $5.95 $4.93 $4.87 $7.58 $7.96
January '22 $9.36 $8.01 $7.10 $6.83 $4.93 $4.87 $7.46 $7.64
December '21 $9.76 $8.08 $6.27 $6.08 $5.31 $5.25 $7.49 $8.19
November '21 $9.67 $8.69 $6.49 $6.54 $5.31 $5.25 $6.46 $7.65
October '21 $9.25 $8.60 $6.69 $6.81 $5.31 $5.25 $6.22 $6.54
September '21 $7.99 $7.27 $5.51 $5.64 $4.11 $4.06 $5.85 $6.23
August '21 $7.53 $7.14 $5.06 $5.30 $4.11 $4.06 $5.55 $5.86
July '21 $7.11 $6.85 $4.94 $4.80 $4.11 $4.06 $5.11 $5.38
June '21 $6.35 $6.42 $4.97 $4.40 $3.38 $3.27 $5.08 NA
Local First of the Month Markets (Values listed in dekatherms)
Month NNG Ventura Chicago Citygates Colorado Interstate Gas SouthernStar Panhandle
December '22 $7.50 $7.00 $7.08 $6.88 $6.52
November '22 $4.97 $4.95 $4.88 $4.65 $4.48
October '22 $5.47 $5.68 $5.23 $5.41 $4.96
September '22 $8.55 $8.79 $8.54 $8.40 $8.29
August '22 $8.25 $8.45 $8.26 $8.08 $8.08
July '22 $6.20 $6.34 $5.84 $6.20 $8.00
June '22 $8.51 $8.72 $7.42 $8.50 $8.31
May '22 $6.87 $7.11 $6.13 $6.65 $6.62
April '22 $4.83 $5.10 $4.84 $4.77 $4.76
March '22 $4.52 $5.53 $4.35 $4.41 $4.62
February '22 $6.02 $7.02 $4.77 $6.68 $6.58
January '22 $7.21 $5.68 $5.38 $5.95 $5.38
December '21 $5.50 $5.62 $4.91 $5.59 $5.42
November '21 $5.95 $6.29 $4.57 $5.96 $6.01
October '21 $5.44 $5.70 $4.79 $5.58 $5.40
September '21 $4.01 $4.22 $3.67 $4.00 $3.96
August '21 $3.76 $3.89 $3.78 $3.78 $3.72
July '21 $3.41 $3.46 $3.16 $3.48 $3.33
June '21 $2.74 $2.85 $2.67 $2.83 $2.76

December 12, 2022

December 2022 Energy News

The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.

Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.  

International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.

To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.

Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.

December 12, 2022

December 2022 Energy News

The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.

Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.  

International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.

To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.

Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.

December 12, 2022

December 2022 Energy News

The last year has been a rollercoaster ride for the U.S. natural gas markets as we saw the highest prices in a decade this summer to declining prices earlier this fall due to warmer-than-normal temperatures.

Domestic Demand (12/1/22-12/7/22)
Cooler temperatures in the Midwest and West regions pushed demand up 8.6 percent last week to 115.5 billion cubic feet per day (Bcf/d). Much of that growth can be attributed to the power generation and residential and commercial sectors.  

International Demand
This year marked the U.S. becoming the world’s largest exporter of liquified natural gas (LNG), averaging 11.2 Bcf/d. Over the last year, Europe has experienced extreme natural gas prices as it looks to replace natural gas imported from Russia.

To bring long-term stability to energy prices and security, Europe will add several new LNG import terminals to grow its capacity by 5.3 Bcf/d at the end of next year, and the U.S. will increase its export capacity by 5.7 Bcf/d with three new export facilities coming online in the next two years.

Production & Supply
Production continues its growth to pre-pandemic levels, with the rig count for natural gas 52 percent higher than last year. This has helped close the gap in storage levels, with working gas in underground storage coming just 1.6 percent under the five-year average at 3,462 Bcf.

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