“For Natural Gas, It’s Buckle Up and Hang On for 2024” – Steve Reese, CEO

ENB Pub Note: Steve Reese, CEO of Reese Energy Consulting Company is a global thought leader in the natural gas markets. I have had the pleasure of getting to know Steve through our podcast interviews and phone calls. It will be fantastic to visit with Steve at NAPE live. Take a look at his opinions on the natural gas markets. 


If market forecasters are correct, natural gas producers will take it on the chin again in 2024 before the heavens part and gears start turning at new LNG export terminals adding capacity in 2025. Reese Energy Consulting today is following the latest on a perfect storm at hand for natural gas, whipped up by an unseasonably warmer winter, hammered prices, oversupply, a delayed startup on a large Gulf Coast LNG plant—and, of course, an election year that could flip everything on its head.

In an ironic twist to a milder winter, a weeklong freeze this month triggered the cancellation of five LNG cargoes set to sail from La., and Texas. To put this in $$$ perspective, Cheniere Energy, Inc. requires a 40-day notice for cancellations. Gas storage is up to its eyeballs as producers continue to output prolific volumes and inventory more supplies ahead of that holy-moly moment when more LNG lights come on. But here comes that storm as one of those LNG lights—ExxonMobil’s Golden Pass LNG terminal with a peak capacity of 18.1 MTA—has recently pushed startup to 2025. Plaquemines LNG Phase 1 and the Corpus Christi Stage 3 expansions, however, are expected to welcome first feedgas flows this summer.

Then there’s an election year—and it’s a most pivotal one that could decide the fate of the U.S. LNG industry dependent on natural gas, of which we are the world’s largest producer of both. The administration is now rattling global markets reliant on our supplies by pausing any new LNG permits this year. Our take? Storms pass, heavens part, gears start running, and the cream always rises to the top. What do you think? Learn more about REC and our natural gas and LNG consulting services at https://lnkd.in/ebXT2mS.

1031 Exchange E-Book

ENB Top News 
ENB
Energy Dashboard
ENB Podcast
ENB Substack

About Stu Turley 4195 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.