Gas supply gains thwart winter forwards rally in Appalachia, US Northeast

摘要

Rising natural gas supply in the Appalachian Basin and the USNortheast market area is weighing on bullish sentiment in the forwardgas market as the region’s winter 2021-22 outlook continues to cool.Since the start of November, gas production from the Marcellusand Utica shales has surged, rising by nearly 1 Bcf/d, or about 2.7%, tonear-record highs in the upper 34 Bcf/d range.The Northeast region’s gas storage deficit has also continued tonarrow this month, adding to the region’s lengthening supply balance.After falling more than 70 Bcf below average in early September,inventory levels – now estimated around 946 Bcf – are just 11 Bcf belowthe prior five-year average, S&P Global Platts Analytics data shows.