How Fast Things Change -- The Big Story Today -- Natural Gas -- October 25, 2022

Posted earlier:

Natural gas: $5.158. Some Permian natural gas is trending toward $0

• European situation reversed
• no place to store more natural gas
• stream of LNG tankers continues
• European storage sites 90+% full
• European autumn significantly warmer than usual
  

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Updates

Texas natural gas prices sink close to zero -- link here. 

"Natural gas drops toward zero as output swamps pipelines, Permian" -- Bloomberg. 

When WaHa goes negative, the flares shine -- link here.

• by the way, a fake interpretation of the satellite photo
  
• much of that is simply electric lighting; we saw the same false narrative in the Bakken ten years ago
• but that doesn't change the story: natural gas swamps pipelines.

RBN Energy: from October 13, 2022 -- just two weeks ago -- can't build them fast enough.

When it comes to Texas gas supply and Gulf Coast LNG, we’d note that with rapid growth in export terminals from Louisiana to South Texas, the Texas terminals are especially well-located. Why? Because ample and rapidly growing Permian supplies are resulting in a number of very large new pipelines and pipeline expansions from the Permian to the coast that are intrastate — fully within Texas. That means they do not face the delays and multi-layer opposition that interstate pipelines from the north do. Meanwhile, the efforts to impose various critical-facilities and reliability standards on the natural gas industry in Texas remain to be evaluated.