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US Needs Storage to Smooth Gas Price Volatility: Argus

NATGAS

The US natural gas market will continue to be volatile for years to come as supply and demand growth far outpace the construction of new storage and transmission assets, according to executives, cited by Argus.

  • The US has moved from a roughly 60 Bcf/d market eight years ago to around 100 bcf/d today, and we haven't grown our storage capacity at all," said Rich Brockmeyer, head of NA natural gas and power at Gunvor.
  • "I expect we'll have volatility for years to come," he added.
  • When there are issues at LNG facilities, it pushes significant volumes back onto the domestic market.
  • Building additional storage capacity will be a challenge, with a three to four-year process before construction even begins, Cynthia Hansen, president of gas transmission and midstream at the Canadian oil and gas pipeline giant Enbridge.
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