EIA Cuts 2H22 LNG Export Prediction by 14%, HH Price by 44%
Each month the U.S. Energy Information Administration (EIA) issues a monthly Short-Term Energy Outlook (STEO). In May, the STEO made the startling prediction that the average Henry Hub price for natural gas (the national benchmark) would average $8.59 for the entire second half of this year (see Latest Monthly STEO Predicts HH Spot Price to Avg $8.59 in 2H22). In June, EIA reiterated its prediction of $8.59 for the second half of the year (see EIA’s STEO Predicts Henry Hub Gas Price to Avg $8.69 in 3Q22). The most recent STEO, for July, predicts HH will average just $5.97 for the second half of this year, down some 44% from the May/June prediction. What happened?
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Although we understand self-interest and wanting to protect one’s profit margin, we continue to be distressed that some of the biggest chemical companies in the world (meaning in the U.S.) are actively trying to block LNG exports. Why? They want the natural gas they buy (in very large quantities) to be as cheap as possible. In 2017, Big Chemical–companies like Dow Corning, BASF, Eastman Chemical, and others–via their trade association Industrial Energy Consumers of America (IECA), launched an effort to try and persuade Energy Secretary Rick Perry and the Trump Administration to create barriers to exports of natural gas (see 
In 2012, fossil fuels accounted for roughly 82% of total U.S. energy consumption. We have seen an incredibly aggressive pro-renewable push since then, with countries (including the U.S.) pledging to hit net-zero emissions by 2050 as part of the 2015 Paris Agreement. Not a day goes by without an article in Big Media about renewables like wind and solar taking over “any day now.” Fossil fuels are passe, the past, almost gone, on the way out, killing the planet, etc. etc. And yet, renewables ARE NOT taking over. According to the U.S. Energy Information Administration (EIA), fossil fuels accounted for 79% of total U.S. energy consumption in 2021–a drop of 3% in 10 years.
NATIONAL: Biden calls inflation report out of date due to declining gas prices; Energy producers put cash to work in M&A; Local governments ban natural gas; What is keeping America from realizing its LNG potential?; INTERNATIONAL: Germany in talks with Shell for LNG to replace Russian supplies; Russia seizes control of Sakhalin gas project, raises stakes with West; Wood Mackenzie and Ball introduce new LNG tracking tool; Europe scoops up LNG, choking off power in poorer nations.
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American Energy Partners, Inc. (AEPT), based in Allentown, PA, is a small but diversified company. They have their fingers in a number of different oil and gas pies, including subsidiaries in drilling, remediation, water, valuation services, and education. Add one more to the list: radioactive waste. AEPT recently announced it has purchased Austin Master Services, a company that services the Marcellus/Utica industry (and other industries) with radiological waste management solutions, including remediation, decontamination & decommissioning (D&D), and transport.
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