CERAWEEK US gas producers shrug off low prices, bet on LNG boom [Reuters]
EQT Corporation (EQT)
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Source: Reuters
Natural gas prices have fallen by one-third this year, undercut by a warmer winter, outages at LNG facilities and higher-than-expected output. The growth in solar and wind power and a pause on new U.S. LNG export permit reviews also have clouded the outlook for future gas demand. "Domestic U.S. markets are oversupplied," said Chad Zamarin, a senior vice president at gas pipeline operator Williams Cos (WMB.N) , opens new tab "It will certainly take some time for LNG coming out of the U.S. and a bit of a slowdown in supply to rebalance," said Zamarin, speaking on the sidelines of the CERAWeek energy conference in Houston. Oversupply in West Texas, home of the top U.S. oilfield, had prices this week at a negative 26 cents per million British thermal units (mmBtu), requiring gas producers to pay someone to take the fuel. U.S. gas prices were trading at $1.66 per mmBtu on Friday, down 74% from the average price in 2022. "Our pipeline infrastructure is maxed out. It's going to make
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EQT
Earnings
- 4/23/24 - Miss
EQT
Sec Filings
- 4/24/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 4/19/24 - Form 4
- EQT's page on the SEC website