natural gas market national overview - federal energy
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Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Natural Gas Market National Overview
Natural Gas Market Overview
2000Updated October 29, 2009
Page 1 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Annual U.S. Natural Gas Consumption by Sector
Natural Gas market Overview: Consumption by Sector
Notes: Supply includes lower 48 state production, net pipeline imports, and LNG importsSource: Derived from EIA data
20013
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Volu
me
(Bcf
/Mon
th)
Industrial Electric Transportation Commercial Residential Supply
Updated: October 07, 2013
Page 2 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
U.S. Natural Gas Consumption for Power Generation
Natural Gas Market Overview: NG Consumption for Power Generation
Source: Derived from Bentek Energy data20024
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
MM
cf/m
onth
2008-12 Range 2013
Updated: October 07, 2013
Page 3 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Total U.S. Natural Gas Demand All Sectors
Natural Gas Market Overview: Total US Gas Demand
Source: Derived from Bentek Energy data20009
0
20
40
60
80
100
120
140
Jan FebMar Apr May Jun Jul Aug Sep Oct Nov Dec
Volum
e (B
cfd)
2008 - 2012 Range MIN 2013
Updated: October 07, 2013
Page 4 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Atlantic Basin European and US Spot Natural Gas Prices
Natural Gas Market Overview: European & US Gas Prices
Source: Derived from Bloomberg and ICE data2162
$0$2$4$6$8
$10$12$14$16$18$20$22$24$26$28$30$32$34$36$38$40 TTF Spot (Netherlands)
Henry Hub SpotUK NBP Spot (Britain)Algonquin Spot
Price
($/M
MBt
u)
$0$5
$10$15$20$25$30$35$40
5-Year History
Updated October 10, 2013
Page 5 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Canadian and LNG Natural Gas Imports Into the U.S.
Natural Gas Overview: Natural Gas Imports
Source: EIA Natural Gas Monthly2180
0
50
100
150
200
250
300
350
400
Volu
me
(Bcf
)
LNG Imports
0
50
100
150
200
250
300
350
400
Volu
me
(Bcf
)
Canadian Imports
Updated: October 07, 2013
Page 6 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Monthly Gas Imports at Existing U.S. LNG Facilities
Natural Gas Overview: Monthly LNG Imports
Source: Derived from DOE Office of Fossil Energy data2168
0
20
40
60
80
100
120
Volu
me
(BCF
)
FreeportGolden PassNeptuneCameronNortheast Gateway Energy BridgeSabine PassGulf Gateway / ExcelerateLake CharlesCove PointElba IslandEverett
Updated: October 07, 2013
Page 7 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Daily Gas Sendout from Existing LNG Facilities
Natural Gas Market Overview: Daily Gas Sendout
Notes: Everett data includes flows onto the AGT and TGP interstate lines, plus estimates of flows to the Mystic 7 power plant, Keyspan Boston Gas, and LNG trucked out of the terminal. Excludes Freeport LNG which flows via intrastate pipelinesSource: Derived from Bentek data
2161
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000 FreeportGolden PassNeptuneCameronNortheast Gateway/ExcelerateSabine PassGulf Gateway/ExcelerateLake CharlesCove PointElba IslandEverett
Daily
LNG
Sen
dout
(MM
cf/d
)
0
1,000
2,000
3,000
4,000 Monthly Average
Updated: October 07, 2013
Page 8 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
2169Source: Waterborne Energy, Inc. Data in $US/MMBtu
World LNG Estimated November 2013 Landed Prices
Updated October 7, 2013
Natural Gas Overview: World LNG Prices
Cove Point$4.50
India$11.55
UK$8.75
Spain$9.05
Belgium$8.84
Japan$12.40
Korea$12.40
Lake Charles$3.96Altamira
$4.60
Cove Point$4.40
India$11.55
UK$8.75
Spain$9.15
Belgium$8.99
Japan$13.10
Korea$13.10
Lake Charles$3.93Altamira
$4.57
Cove Point$4.50
India$11.55
UK$8.75
Spain$9.05
Belgium$8.84
Japan$12.40
Korea$12.40
Lake Charles$3.96Altamira
$4.60
Cove Point$3.26
India$13.75
UK$10.66
Spain$10.90
Belgium$10.40
Japan$15.65
Korea$15.65
Lake Charles$3.15Altamira
$16.40
Rio de Janeiro$14.65
Bahia Blanca$15.65
China$15.25
Page 9 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Monthly U.S. Dry Gas Production – Lower 48 States
Natural Gas Markets: Monthly U.S. Dry Gas Production
Note: Prior to July 2010, chart was derived from a combination of EIA and Bentek Energy dataSource: Derived from Bentek Energy data
20021
10
20
30
40
50
60
70
Bcfd
Dry Production
Updated: October 07, 2013
Page 10 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Total U.S. Working Gas in Storage
Natural Gas Market Overview: National Storage
Source: Derived from EIA data2003
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Volu
me
(BCF
)
2008-12 Range 2012-2013 2013-14
Updated: October 07, 2013
Page 11 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Regional Totals of Working Gas in Storage
Natural Gas Market Overview: Regional Storage
Source: Derived from EIA data2004
0
500
1,000
1,500
2,000
Min 2013-2014 2012-13
0
200
400
600
800
1,000
1,200
1,400
300400500600 Western Consuming Region
Eastern Consuming Region Producing Region
Updated: October 07, 2013
Page 12 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
U.S. and Canadian NG Drilling Rig Count and Daily Spot Prices
Natural Gas Market Overview: Drilling Rig Count
Source: Derived from Platts and Baker Hughes data2007
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
Number of RigsPr
ice ($
/MM
Btu)
Henry Hub Average Weekly PriceU.S. Rigs Drilling for Natural GasCanadian Rigs Drilling for Natural Gas
Updated: October 07, 2013
Page 13 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight @ FERC.gov
Source: Derived from EIA Storage and Estimated Working Gas Capacity data
Natural Gas Storage Inventories – September 30, 2013
Natural Gas Market Overview: Storage Inventories
20022
East,82%
West,95 %
Producing,86 %
Total, 85%Updated October 7, 2013
Page 14 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
U.S. NG Supply and Demand 2012 vs. 2013: January - September
Natural Gas Market Overview: U.S. Supply and Consumption
Note: Balance includes all amounts not attributable to other categories.Source: Derived from Bentek Energy data
2163
0
10
20
30
40
50
60
70
80
90
100
2012 2013
Aver
age
Daily
Vol
ume
(Bcf
d)
US Natural Gas Supply
0
10
20
30
40
50
60
70
80
90
100
2012 2013
Aver
age
Daily
Vol
ume
(Bcf
d)
US Natural Gas DemandTotal Change in Demand
Power GenerationNet Dry Gas
Production
Net PipelineImports
0.8%
2.0%
-30.0%-6.9%
-14.4%
4.9%
LNG Imports
Industrial
Total Change in Supply 1.4%
23.4%Residential/ Commercial
Updated: October 07, 2013
Page 15 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
U.S. Natural Gas vs. Natural Gas Liquids (NGL) Prices
Natural Gas Market Overview: NGL Prices
Source: Derived from Bloomberg Data 20025
$0
$5
$10
$15
$20
$25
$30
$/M
MBt
u
HH NGEthanePropaneIso-butaneButaneNatural Gasoline
Updated October 10, 2013
Page 16 of 17
October 2013
Federal Energy Regulatory Commission • Market Oversight • www.ferc.gov/oversight
Average Spot Gas Prices, 2012 ($MMBtu)
Natural Gas Market Overview: Spot Gas Prices
Source: Derived from Platts data. 2181
ColumbiaTCO
Waha Hub
AlgonquinCitygate
AECO Hub
Malin
Dawn
Tetco M-1
Pricing PointBlack – current priceGreen – increase/previous yearRed – decrease/previous yearBasis
ChicagoCitygate
TranscoZ6-NY
NorthernVentura
El PasoPermian
PanhandleTex-OklaEl Paso
San Juan
SoCal Border
PG&ECitygate
Kern RiverOpal
NW Sumas
Tennessee Zone 0
$3.94-21.0%
$3.26-34.6%
0.680.19
0.48
$2.78-31.8%
$3.07-29.8%
$2.69-30.6%
$2.85-30.8%
$2.67-31.1%
$2.64-30.9%
$2.39-34.8%
Henry Hub$2.75-31.0%
$2.69-31.0%
$2.77-31.2%
$2.63-31.9%
$3.11-26.5%
$2.73-30.8%
$2.68-29.8%
$2.91-28.2%
$2.73-31.6%
$2.69-31.2%
0.100.51
0.450.33
0.01
0.23
0.24
0.38
0.27
0.07
0.22
0.22
0.03
0.12
0.02
0.22
0.04
0.03
0.20
Katy Hub$2.72-31.1%
FGT-Z3
ColumbiaMainline
$2.73-30.9% 0.20
$2.93-27.6%
Updated: January 10, 2013
Page 17 of 17
October 2013