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Chinese natural gas consumption sees 10% increase in 2018

According to ‘Research on Natural Gas Import in China, 2019-2023’ the developing Chinese economy and its stricter environmental protection policies lead the development of natural gas consumption in China. The natural gas consumption was boosted when the Chinese government implemented additional restrictions on atmospheric pollution and replacement of coal with natural gas in specific areas. 

Sumas sees highest daily natural gas spot prices in US since 2014

The Sumas trading point on the Canada-Washington border averaged $161.33 per million British thermal units on its natural gas spot prices on March 1. This is the highest daily spot price ever recorded by Natural Gas Intelligence anywhere in the United States in at least five years. The price peak was due to regional supply constraints and unseasonably cold temperatures.

Germany’s gas imports decrease in Nov, up in Jan-Nov 2018

Germany’s gas imports decreased by 9% in November 2018 in comparison to the same month in 2017, according to Reuters. Yet, imports during the first 11 months, from January to November, experienced an increase of 9% than the same period , a year earlier.

US LNG exports to China decreased due to trade war in 2018

The number of U.S. liquefied natural gas vessels that went to China in 2018 fell by around 20% from the prior year as the trade war between Beijing and Washington heated up. Yet, the trade war has been lessen because of talks between China and US, looking for a common ground, increasing the possibility of additional tariffs to be avoided, according to Reuters.

US natural gas prices increased in 2018

According to EIA, during 2018 the annual Henry Hub natural gas spot price increased to $3.16 per million British thermal units (MMBtu), up 15 cents from the 2017 average. The prices were risen gradually, with important increases on October and November, before experiencing a decrease in December.

New record for US crude oil and natural gas proved reserves in 2017

According to EIA’s recent report ‘Crude Oil and Natural Gas Proved Reserves’, there is a continuous rise on shale and tight resources that drove proved reserves of both U.S. crude oil and natural gas to new records in 2017. Reserves of  U.S. crude oil increased 19.5% in comparison to 2016, whereas reserves of natural gas increased by 36.1% from the end of 2016.

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