{"id":11491,"date":"2012-05-15T01:09:15","date_gmt":"2012-05-15T05:09:15","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=11491"},"modified":"2012-05-15T01:09:15","modified_gmt":"2012-05-15T05:09:15","slug":"exports-liquified-natural-gas-bottoming-prices","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2012\/05\/15\/exports-liquified-natural-gas-bottoming-prices\/","title":{"rendered":"Exports of Liquified Natural Gas Add to Evidence of Bottoming Natural Gas Prices"},"content":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on May 11, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

On April 19th, natural gas (UNG) reached a 10-year low at $1.907\/mmBtu. This week, natural gas traded to a two-month high, the largest and longest-lasting move higher in a very, long time. Dow Jones Newswire explained the rise by pointing to an Energy Industry Administration (EIA) forecast that utility demand for natural gas will jump 21% this year. Utilities with natural gas capacity will make the switch from much pricier coal (see “US GAS: Rally On Utility Demand Boosts Price To 2-Month High<\/a>“). However, I also think recent news about exports of liquified natural gas (LNG) are helping to provide a firmer floor here.<\/p>\n

On May 6, The Financial Times reported that Japan has boosted imports of LNG to replace lost nuclear power. {snip}<\/p>\n

On May 7, Cheniere Energy Inc. (LNG) sold nearly $500M in stock to finance a natural-gas export terminal in Louisiana (see “Cheniere to sell $470 mln in stock at discount<\/a>“). I interpret this move as a signal that more cheap U.S. natural gas will get exported, providing a conduit of increasing demand that should help provide a price floor. The news from the U.K. simply confirmed that the export market is healthy. <\/p>\n

{snip}<\/p>\n


\n
\"EnCana<\/a>
EnCana bounces sharply from 2008\/2009 lows<\/figcaption><\/figure>
\n
\n
\"San<\/a>
San Juan Royalty Trust is bouncing but still trapped in a primary downtrend<\/figcaption><\/figure>
\n
\n
\"UNG's<\/a>
UNG's long decline has provided little relief<\/figcaption><\/figure>
\nSource for charts: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

{snip}<\/p>\n

Be careful out there!<\/p>\n

(This is an excerpt from an article I originally published on Seeking Alpha on May 11, 2012. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

Full disclosure: long SJT, ECA<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I originally published on Seeking Alpha on May 11, 2012. Click here to read the entire piece.) On April 19th, natural gas (UNG) reached a 10-year low at $1.907\/mmBtu. 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