Global natural gas prices for 2020 expected even lower – Saudi Gazette

Global natural gas prices for 2020 expected even lower – Saudi Gazette

Given the recent drop in oil prices and Rystad Energy's downward revision in the oil price forecast, our oil-indexed price has also been revised down.. Following the period, we see downside risk for prices for 2026 and 2027 driven by potential overinvestment in 2019 as new supplies begin coming onto the market.. As a result of the lower demand and the low prices, exporters have had to adjust their LNG production, and the US is among the countries that will see the biggest impact on LNG exports.. Feedgas into Sabine Pass LNG has dropped from 4,227 MMcfd (120 MMcmd) on Jan. 31 to as low as 1,743 MMcfd (49 MMcmd) on March 17."While LNG exports from the US have dropped, demand from the power sector continued to increase in March, boosted by low gas prices.. As the epicenter of Covid-19 moves from Europe to the US, we could see a drop in gas demand from power and other sectors, adding more downward pressure for Henry Hub prices," said Rystad Energy's head of gas and power markets Carlos Torres-Diaz..