WASHINGTON - In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will average $5.67 per million British thermal units (MMBtu) between October and March, the highest winter price since 2007–2008.
When you open your January home-heating bill and reach for the smelling salts, don’t blame the Alberta natural gas producers who supply Central Canada. Simply put, there isn’t enough natural gas worldwide to match the surge in demand from the unprecedented reboot of the global economy, and to keep our homes warm this winter.
An acute energy crisis is making its presence felt in North America as consumers are finally starting to feel the pinch of much higher prices to fill up their cars and heat their homes. The average retail price of gasoline in Canada hit $1.45 a litre on Wednesday, according to data compiled by retail analytics firm Kalibrate.
This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly shorter supply. Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal and increase the use of cleaner energy sources.
China and Asia are winning the bidding war for natural gas supplies as the northern hemisphere goes into the winter season with woefully low inventories and recovering demand after the pandemic. Just as natural gas prices surged to records in Europe and Asia, commodity-hungry China secured this week a major long-term liquefied natural gas (LNG) supply deal with top exporter Qatar.
SINGAPORE, Oct 1 (Reuters) - Chinese buyers are seeking more liquefied natural gas (LNG) cargoes despite record prices, bidding above market rates as the winter season starts with the country's gas inventory low, several trade sources told Reuters.
There is a real energy crisis in Europe that was created by a combination of political missteps, climate change fear-mongering and a woke energy policy that could leave much of Europe and Asia undersupplied as they head into winter.
Prices for natural gas, the most common way to heat homes and a leading fuel source for generating electricity, have surged more than 180% over the past 12 months to $5.90 per million British thermal units. Natural gas hasn't been this expensive since February 2014.
With North American natural gas prices soaring to heights not seen in years, Canadians can expect to pay significantly more to heat their homes this winter. While natural gas prices in Canada and the U.S. have not hit the record levels being experienced right now in Europe and Britain
Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as US$100 per million British thermal units in the event of a particularly cold winter.
ONDON, Sept 22 (Reuters) – Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers.
TORONTO -- Ontario is forecast to be hit with an early arrival of winter weather this year that will bring cold and snowy conditions to the province. The Weather Network released their fall forecast for Canada on Tuesday, which predicts temperatures will be remain warmer-than-normal through the heart of the fall season.
Speak with one of our Energy Specialists today to find out more about our Cancel Anytime “Peace of Mind” gas program.