While global natural gas demand has rebounded following the initial shocks from the coronavirus pandemic, volatility, including a bull run in Northeast Asian spot gas prices, has created uncertainty.
US gas pipeline operators and LNG exporters are warily eyeing the robust prices while preparing to release financial results for the past year and outlooks for the year ahead, S&P Global Platts said.
Many companies in the midstream sector are being cautious with spending on growth projects. At the same time, US gas production has surged 3 Bcf/d since October 2020, defying market expectations of widespread production declines.
Robust LNG feedgas deliveries and exports to Mexico, in tandem with stronger power burns, have helped to offset weak res/comm demand from a lack of cold weather winter-to-date, according to S&P Global Platts Analytics data.
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