Natural Gas news and market movers: Hydrogen takes over
- Recent energy component numbers from China reveal that Hydrogen energy is contributing a more significant than expected part of electricity ahead of the summer. With rising temperatures, the need for electricity increases to keep air conditioning cooling, and normally sees an uptick in Gas consumption. That is being partially offset by hydrogen energy taking its place in the energy pie, according to Bloomberg.
- Gas imports into Europe are not at peak levels and are expected to surge from 18% in 2021 to 43% by 2025-2030, Bloomberg predicts.
- Reuters reports that the Freeport Liquefied Natural Gas (LNG) facility in Texas has successfully ramped down its production so that Storm Beryl can make its passage in the region. Production has been reduced by 86%.
- The National Hurricane Center warns of strong winds and flash flooding as Beryl hits the Texas shore on Monday and is set to head further inland over Arkansas, Tennessee and Missouri in the coming days.
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