D - Dominion Energy, Inc.
Chart Events
Commodity Channel Index
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 84.96 |
| Open | 85.49 |
| Bid | 84.01 x 1000 |
| Ask | 84.65 x 800 |
| Day's Range | 84.13 - 85.93 |
| 52 Week Range | 57.79 - 90.89 |
| Volume | 3,860,279 |
| Avg. Volume | 4,336,376 |
| Market Cap | 70.74B |
| Beta (5Y Monthly) | 0.27 |
| PE Ratio (TTM) | 67.65 |
| EPS (TTM) | 1.25 |
| Earnings Date | May 05, 2020 |
| Forward Dividend & Yield | 3.76 (4.43%) |
| Ex-Dividend Date | Jun 04, 2020 |
| 1y Target Est | 84.86 |
Fair Value
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- InvestorPlace
7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing
This market has been on a tear. If, as the old saying goes, bull markets climb a wall of worry, this one has leapt that wall in a single bound.Now, maybe with all the Federal Reserve support and the trillions of dollars in stimulus approved by Congress this will continue.But there are also 40 million people out of work and the economy is in a recession that goes far beyond America's shores.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf you're an investor looking for opportunity but would also like sleep-at-night safety, or would like to go on holiday without looking at your portfolio every few hours, then utilities are a good place to start.For many electric utilities, they have both regulated and unregulated operations. That means one part of the operation provides a solid foundation of conservative growth. And the other provides opportunity to sell energy at market prices, offering greater growth. * 7 Hotel Stocks to Buy Before Vacationing Restarts Here are 7 utility stocks keeping the lights on below * NextEra Energy (NYSE:NEE) * Dominion Energy (NYSE:D) * American Water Works (NYSE:AWK) * Brookfield Infrastructure Partners (NYSE:BIP) * Algonquin Power & Utilities (NYSE:AQN) * Ormat Technologies (NYSE:ORA) * Atlantica Sustainable Technologies (NYSE:AY)These are well-established companies with long records of growth and safety. Between that and their traditionally strong dividend yields, that makes high-quality utilities a must-have for my Growth Investor buy list. Utility Stocks to Buy: NextEra Energy (NEE)Source: madamF / Shutterstock.com This company is a prime example of what I was talking about in the intro. It operates FPL (Florida Power & Light), which is a regulated utility that serves southern Florida.And it is also the largest producer of wind and solar energy in the world.Its regulated business operates in high-growth, densely populated sector of the state, which means solid, reliable returns.And its unregulated business sells renewable energy across the US to other utilities and industry. They can use the renewable energy to offset their carbon emissions and they don't have to get into the renewables business. It's a model that more and more utilities are adopting.Also, renewables are more resilient as climactic events rise.The stock is up 26% in the past year and 7% year to date. The latter figure is bullish given the drop in industrial and commercial demand due to COVID-19 lockdowns. NEE has a 2.2% dividend. You can see why this is among my favorite Elite Dividend Payer stocks for my Growth Investor recommendations. Dominion Energy (D)Source: ying / Shutterstock.com Dominion is one of the biggest utilities on the East Coast. It is the main regulated utility in Virginia as well as parts of the Carolinas. Meanwhile, its natural gas business covers the aforementioned as well as West Virginia, Ohio, Pennsylvania, Georgia, Utah and Wyoming.D has a $72 billion market cap and a rock-solid business in Virginia, where there are significant corporate offices for defense contractors, telecommunications and internet firms. The point being, it has steady strong demand on both the consumer and commercial sides.Its unregulated business leans on its natural gas operations. It's one of a handful of companies that has both extensive natural gas distribution assets as well as an export facility.Exporting natural gas is a huge opportunity, since natural gas prices are triple (or higher) in European and Asian markets. D also has expanding renewable operations in and beyond its core service areas. * 7 Hotel Stocks to Buy Before Vacationing Restarts The stock is up 12% in the past year, 3% year to date. But it has a generous and rock-solid 4.4% dividend. American Water Works (AWK)Source: Shutterstock AWK's roots go back to 1886 when it was operating as a utility in the US and Canada. And its journey to its current path has been somewhat circuitous but now it operates divisions in more than 46 states and serves 14 million customers.The story of the water business has changed over the years. It used to be that cities, towns or municipalities ran their own water companies. But over the past 3 decades that became increasingly expensive, since this isn't a core competency of many municipal governments.This was the precursor to the rise of water utilities that could operate these water systems for the governments at set rates, like any other utility. The utilities could do this because they could operate at scale and were focused on just one task. This has worked out very well for both AWK and the states it operates in.AWK also has contracts for military bases, which is a reliable source of income. Given the current challenges of water demand for commercial and consumer operations, AWK is in a growth market with a broad reach.The stock is up 13% in the past year and 8% year to date. It also has a 1.7% dividend. And I've got even better growth-and-income plays where that came from. Brookfield Infrastructure Partners (BIP)Source: Shutterstock Brookfield Infrastructure Partners is a Canada-based company with properties around the world. Those properties include utilities, transport, energy and data infrastructure businesses. BIP has been operating for 105 years and is still going strong.Just this year it was in a bidding war with Australia-based Macquarie Infrastructure (NYSE:MIC) for telecom Cincinnati Bell (NYSE:CBB). In the end it lost out to MIC.However, the company has a diverse portfolio of assets, which means it can take advantage of opportunities in a number of different industries, given their economic cycle.The company is structured as a limited partnership, which means stockholders are treated a direct owners, and net income is distributed as a generous dividend. That dividend currently sits at 4.6%. * 7 Hotel Stocks to Buy Before Vacationing Restarts The stock is up 10% in the past year, despite being off nearly 7% year to date. Algonquin Power & Utilities (AQN)Source: Shutterstock Canadian firm Alqgonquin Power holds an interesting mix of assets. And while its name might not be familiar to most south of the border, AQN has operations in 12 U.S. states under its subsidiary Liberty Utilities.Liberty's operations range from operating sewer companies to gas, water and electric operations in select cities and districts. Many of the properties were acquired from companies looking to spin off smaller operations and those that weren't matching the larger focus of the company.AQN can operate these at smaller scales and still remain profitable. That's the kind of business model I look for in making Growth Investor picks. The company also is very involved in renewable energy efforts in Canada, including hydroelectric projects.AQN delivers an attractive 4.2% dividend and the stock is up 20% in the past 12 months, and 3% year to date. Ormat Technologies (ORA)Source: Shutterstock This unique company started in Israel in the mid-1960s. It developed a proprietary turbine that could convert geothermal or recovered energy (the heat generated by other equipment) into electricity.By the oil crisis in the '70s, the value of self-sufficient, renewable energy resources became a very popular concept.In the decades that followed, ORA installed geothermal systems in Israel, New Zealand, Iceland, Guatemala, Kenya and the U.S. Today, the company is headquartered in Nevada.Most renewable energy headlines go to solar or wind these days, but there is a growing demand for geothermal as well. ORA has a solar division as well, plus a technology that can separate oil from oil sands more efficiently than traditional processes. * 7 Hotel Stocks to Buy Before Vacationing Restarts While it is an energy company, it doesn't operate as a utility, so its dividend isn't spectacular, sitting at 0.6%. ORA is up 15% in the past year, and off 5% year to date. But its technology is at the heart of where energy generation, and thus utility consumption, is going. Atlantica Sustainable Infrastructure (AY)Source: Shutterstock Atlantica Sustainable is a UK-based firm that owns a diversified portfolio of energy assets around the world.From solar farms in Spain, the US, South Africa and the Sahara, to wind turbines in Peru to electrical grids in Chile, AY has operations that span a variety of sectors in a range of countries.Almost all of its contracts are dollar or euro based, which helps stabilize its income stream. And most projects are under contract for the next decade or longer. This allows the company to look for new projects and show that it can sustain the new opportunity costs.Launched in 2013, the company is relatively new to the game, but its renewables focus certainly makes it a strong play on growth in the overall sector. It has a $2.8 billion market cap, so it's growing well.The stock is up 23% in the past 12 months and 3% in year to date. But it also has a 5.9% dividend, which is certainly a nice kicker.Speaking of income and growth plays…Currently, my Portfolio Grader I used to find Growth Investor stocks is picking up plenty of buys in all kinds of sectors. One that I'm particularly excited about now is helping enable a major upgrade across the telecom industry, across the world. The 5G Buildout Is an Incredible Opportunity for Investors Right NowWithin two years, most cell phones will be 5G enabled and be able to wirelessly handle television streaming. With 5G, we'll have cable modem speeds on any device; no need to plug in. That's a big deal for rural areas … the very same areas that are also key to President Donald Trump's reelection. So, by pushing 5G over the goal line, Trump will deliver a big win for his base -- and strike a blow against Chinese rivals like Huawei Technologies.But big picture, 5G is about much more than trade wars and faster downloads. Because 5G is 100 times faster than 4G, it'll allow your wireless internet devices to work in real time. That advancement is a game changer for tech companies.With the 5G infrastructure market set to grow at an annual rate of 67% over the next 10 years, the entire market will go from $780 million to nearly $48 billion. This buildout is where I see opportunity with 5G stocks now.Cable companies can do their best to fight back with fiber optics … but they can't compete with the convenience of a smartphone, once it's got ultra-fast 5G. That's how my 5G infrastructure play will capture more market share from the broadband cable companies.The stock I'm targeting is enjoying an influx of big money on Wall Street, and it has good fundamentals, too -- making it a "Strong Buy" in my Portfolio Grader system now.Click here to watch my new, free briefing on this extraordinary technology and the opportunity with 5G stocks.When you do, you'll see how to claim a free copy of my investment report, The King of 5G "Turbo Button" Technology, which has full details on this company -- and what makes it such a great buy now.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system -- with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * Top Stock Picker Reveals His Next 1,000% Winner * The 1 Stock All Retirees Must Own * Look What America's Richest Family Is Investing in Now The post 7 Utility Stocks to Buy Keeping Lights On And Dividends Flowing appeared first on InvestorPlace.
- Zacks
Dominion Energy (D) Dips More Than Broader Markets: What You Should Know
Dominion Energy (D) closed the most recent trading day at $84.96, moving -1.76% from the previous trading session.
- PR Newswire
Dominion Energy Commits $5 Million to Social Justice, Community Rebuilding Efforts
Dominion Energy (NYSE: D) and its charitable foundation are committing $5 million to help community reconciliation and rebuilding across the company's 20-state footprint. The funds will support non-profit organizations advocating for social justice and equality. Grants will also be designated to help minority-owned and small businesses recover from recent disruptions to their businesses.
- Zacks
Why Is Dominion Energy (D) Up 11.3% Since Last Earnings Report?
Dominion Energy (D) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Thomson Reuters StreetEvents
Edited Transcript of D earnings conference call or presentation 5-May-20 2:00pm GMT
Q1 2020 Dominion Energy Inc Earnings Call
- Insider Monkey
Here is What Hedge Funds Think About Dominion Energy Inc. (D)
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
- Reuters
Natgas flows to U.S. LNG export plants sink to 9-month low due to coronavirus
The amount of natural gas flowing on pipelines to U.S. liquefied natural gas export plants is at its lowest levels since August, a signal of weak worldwide demand due to government lockdowns to repress the coronavirus. Consumption of liquefied natural gas (LNG) has remained stronger than gasoline demand as LNG is used for power generation, but the cash crunch hitting the global economy has cut demand. The amount of gas flowing to U.S. LNG plants was on track to fall to a nine-month low of 4.3 billion cubic feet per day (bcfd), data provider Refinitiv said in a preliminary report Monday that may be revised on Tuesday.
- PR Newswire
Dominion Energy Boosts Support for Customers Struggling Financially During Pandemic
Dominion Energy Virginia is expanding assistance to Virginia customers facing hardship, offering a more generous payment plan and new direct assistance, while asking permission from regulators for an additional four-month extension of the "no disconnection" policy. The efforts come as the pandemic continues to impact millions of Americans across the country.
- PR Newswire
Dominion Energy Adapts to Ensure Safe, Quick Response to Hurricanes Across Virginia, Carolinas During Coronavirus Pandemic
Tropical Storm Bertha signaled the start of hurricane season when it made landfall last week in South Carolina. Dominion Energy customers in Virginia and the Carolinas can continue to expect excellent response from crews this hurricane season as a result of measures taken to adapt to coronavirus impacts. Crews have access to resources necessary to respond safely and quickly to storm-related outages.
- Moody's
The East Ohio Gas Company -- Moody's assigns first-time A2 senior unsecured rating to The East Ohio Gas Company's proposed notes; outlook stable
Moody's Investors Service, ("Moody's") has today assigned a first-time A2 senior unsecured rating to The East Ohio Gas Company's (d/b/a Dominion Energy Ohio or Dominion Ohio) proposed notes as well as a first-time A2 Issuer rating. Dominion Ohio's outlook is stable.
- Motley Fool
2 Stats Show the Dire State of U.S. Coal-Fired Power Plants
The first-quarter performance of America's dirtiest power source was the worst in decades, but there are opportunities in coal's demise.
- Reuters
Court ruling in Keystone XL case another blow to big U.S. pipelines, say energy analysts
The Trump administration has pressed ahead with new pipeline construction but several projects have been stalled by successful legal challenges saying the administration is not applying careful regulatory scrutiny. Last month, a Montana judge ruled the Army Corps authorized permits to cross streams without properly consulting other federal agencies on endangered species. Rather than limit its ruling to the Keystone XL crude pipeline case before the court, the judge questioned the Army Corps' method of authorizing stream crossing under the entire National Permit 12 program.
- Reuters
Court ruling in Keystone XL case is another blow against big U.S. natgas pipes
The two biggest U.S. natural gas pipelines under construction are likely facing more delays after an appeals court ruling against the Army Corps of Engineers, analysts say. The Trump Administration has aggressively pressed ahead with new pipeline construction, but several projects have run into roadblocks due to successful legal challenges charging that the administration is not applying careful regulatory scrutiny. Last month, a Montana judge ruled the Army Corps authorized permits to cross streams without properly consulting other federal agencies on endangered species.
- Reuters
U.S. utility Southern Co commits to 'net zero' emissions by 2050
U.S. utility Southern Co on Wednesday committed to reducing its carbon emissions to "net zero" by 2050 following investor pressure to set a more ambitious goal to combat climate change. The Atlanta-based company's pledge, unveiled at its annual shareholder meeting, goes beyond a 2018 commitment that it would emit "low to no" carbon by 2050, environmental groups said.
- Investopedia
Top Utilities Stocks for June 2020
The utilities sector is made up of companies that provide electricity, natural gas, water, sewage and other services to homes and businesses. Many of these companies are heavily regulated, and include Duke Energy Corp. (DUK), Southern Co. (SO), and American Electric Power Co. Inc. (AEC). Utilities stocks, as represented by the Utilities Select Sector SPDR ETF (XLU), have underperformed the broader market with a total return of -0.7% compared to the S&P 500's total return of 8.7% over the past 12 months. These market performance numbers and the statistics in the tables below are as of May 26.
- Reuters
U.S. LNG exports drop more than a third as pandemic shrinks demand
U.S. liquefied natural gas exports are down by more than a third since governments started imposing lockdowns to stop the spread of the coronavirus. Worldwide gas prices have plunged as lockdowns squeezed energy demand even as strong renewables output boosted supply. Gas prices are more expensive now in the United States than in Europe for the first time in a decade.
- InvestorPlace
5 Utilities Stocks That Will Help Pay the Bills
Are you looking for a wild ride or are you looking for consistent income? For a de-risked portfolio and solid dividends, utilities stocks are a time-tested favorite investment option.Along with the dividends, utilities stocks are considered relatively safe because they provide power to homes and businesses. This is considered a necessity that never goes out of style. * 7 Sluggish Stocks Hit Hard by Coronavirus This Earnings Season It's a sound policy to stick to the best companies in any sector. When it comes to utilities companies, five names are well-regarded and have a long history:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Duke Energy (NYSE:DUK) * Southern (NYSE:SO) * Dominion Energy (NYSE:D) * Consolidated Edison (NYSE:ED) * Excelon (NASDAQ:EXC)Feel free to explore these utilities stocks and see if they deserve a place among your low-volatility holdings. Utilities Stocks to Buy: Duke Energy (DUK)Source: jadimages / Shutterstock.com Like just about every company in the United States, Duke Energy is dealing with the Covid-19 crisis. This particular company seems to be taking the situation in stride, however.Consider Duke's first-quarter net income, which came out to $899 million. That's just about exactly in line with the same quarter of the previous year, when Duke's net income was $900 million. Meanwhile, this year's first-quarter revenue totaled $5.95 billion, which is not too far below the $6.16 billion reported in the first quarter of the prior year.So, while there is some pressure being felt during the pandemic, it's not too severe. For the time being, DUK stockholders can ride out the crisis with a decent 4.54% forward annual dividend yield. Southern (SO)Source: Shutterstock "Critical infrastructure businesses like ours never take a day off," observed Thomas A. Fanning, the president and CEO of utilities giant Southern. Fanning's 100% right about that as Southern is an essential utilities provider for around 8 million customers.Southern remains in good fiscal health, as well. For 2020's first quarter, the company posted adjusted earnings per share of 78 cents. That's an eight-cent year-over-year increase as well as 6 cents greater than the company's estimate. * 10 Best High-Growth Stocks to Buy for Young Investors SO stock is a safe bet since it has such a massive presence and is crucial to people's standard of living. It's also a dividend achiever with a forward annual yield of 4.78%. All in all, this pick deserves to be on anyone's top utilities stocks list. Dominion Energy (D)Source: Riccardo Annandale Via UnsplashIf you said that D stock is recession-proof, you'd by exaggerating but only slightly. The shares have held up fairly well during the novel coronavirus crisis. Besides, the 4.77% forward annual dividend yield is a strong incentive to hold the stock.Fiscally, Dominion Energy has held up reasonably well despite the pandemic. For the first quarter of this year, Dominion reported total revenues of $4.5 billion. That's actually a marked improvement over the revenues of $3.9 billion Dominion generated in the year-ago quarter.With over 7 million customers across 20 U.S. states relying on Dominion for their energy needs, this company's a mainstay in the utilities sector and D stock is a highly reliable income generator. Consolidated Edison (ED)Source: Shutterstock Like to invest in companies that have been around for a while? If so, take a look at Consolidated Edison, which was founded way back in 1884. If you happen to reside in New York or New Jersey, there's a fair chance that your electricity service is provided by this esteemed company.Has "Con Ed" been able to weather the Covid storm? The answer would be yes as the company's adjusted earnings for the first quarter totaled $451 million. That's $1.35 per share and it beats the $448 million, or $1.39 per share, generated during the same quarter of last year. * Missing copy for url 1. Please edit. * Url 1 is an external link. Please edit.Plus, ED stock features a trailing 12-month price-to-earnings ratio of 18.15 and a forward annual dividend yield of 4.32%. Those are nice stats and this stock should perform well even in these challenging times. Excelon (EXC)Source: Shutterstock This one's a little bit different from the other utilities-sector stocks on this list. Excelon is a relative newcomer, having been incorporated in 1999. Plus, EXC stock is the only name on this list that's traded on the Nasdaq.So, it could be argued that Excelon is a more "modern" utilities company. Its true strength, however, is that it's diversified with fossil, nuclear, hydroelectric, wind and solar segments.With 87 cents per share in operating earnings for 2020's first quarter, Excelon remains on par with its results from the same quarter of last year. Additionally, a trailing 12-month price-to-earnings ratio of 13.79 and a forward annual dividend yield of 4.17% indicate a compelling value with EXC stock.David Moadel has provided compelling content - and crossed the occasional line - on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. As of this writing, David Moadel did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post 5 Utilities Stocks That Will Help Pay the Bills appeared first on InvestorPlace.
- Zacks
Why Dominion Energy (D) is a Good Stock to Buy Now
Dominion Energy (D) can be a good choice for your portfolio given its long-term investment plan and renewable focus. But delay in completion of the Atlantic Coast Pipeline a concern.
- Reuters
EQM sees U.S. Mountain Valley natgas pipe on in 2020, analysts not so sure
EQM Midstream Partners LP said on Thursday it still sees a "narrow path" to complete its long-delayed $5.4 billion Mountain Valley natural gas pipeline from West Virginia to Virginia by late 2020. Analysts, however, said Mountain Valley and other pipelines would probably be delayed by a decision by a federal judge in Montana that the U.S. Army Corps of Engineers did not comply with the Endangered Species Act. EQM said in its first quarter earnings that Mountain Valley "is working through the project’s remaining legal and regulatory challenges to achieve the targeted late 2020 full in-service date."
- Zacks
How Will Utility ETFs React to Mixed Q1 Earnings?
Here we look at some ETFs with strong exposure to three utility bigwigs post the release of their mixed Q1 earnings.
- Investopedia
Global Infrastructure Stocks Could Be Headed Lower
Chart patterns across global infrastructure suggest downside risk, even though it seems like a logical segment to allocate capital.
- Reuters
Montana judge upholds ruling that canceled Keystone XL pipeline permit
A federal judge in Montana on Monday upheld his ruling last month that canceled an environmental permit for the long-delayed Keystone XL oil pipeline and threatened other oil and natural gas pipeline projects with delays. Chief U.S. District Judge Brian Morris denied a request by the U.S. Army Corps of Engineers to narrow his April 15 ruling that canceled the so-called Nationwide Permit 12. The permit allows dredging work on pipelines across water bodies.
- Bloomberg
Virus Could Push Unpaid U.S. Utility Bills to Highest in Decades
(Bloomberg) -- WEC Energy Group Inc. and OGE Energy Corp. may face the utility industry’s steepest hits to earnings as unpaid customer bills pile up, according to a research report.The Milwaukee-based utility’s pre-tax income may slide as much as 3.7%, Hugh Wynne and Eric Selmon, analysts with the investment research company SSR LLC, wrote Monday. They warn that the economic fallout from the coronavirus pandemic may drive uncollected electric and natural gas bills to the highest in two decades.Other utilities that may face a significant drag on earnings include Oklahoma-based OGE, with an estimated 3% decline, Avangrid Inc.with a 2.9% drop and Dominion Energy with a 2.8% fall.With millions of people out of work, many utilities have stopped disconnecting customers for failing to pay bills. While certain states allow utilities to recover the cost of unpaid bills through additional charges, utility cash flows will suffer until the rate increases go into effect, the analysts said. In addition, eleven states including Wisconsin are allowing utilities to track Covid-19 expenses, they said.Annual changes in unemployment rates account for about 39% of the increase in uncollected electric bills and 45% of gas bills, according to the report. U.S. unemployment skyrocketed to 14.7% in April, the highest since the Great Depression, as shelter-in-place orders forced businesses to shed millions of workers.WEC Energy said that under current regulations, the company can recover bad debt expenses and is working with regulators and stakeholders to track bills for future recovery. The company is also working with federal and state governments to help customers manage their bills. OGE, Avangrid and Dominion didn’t immediately respond to requests for comment.Regulators are letting utilities defer virus-related expenses including those from non-payments for future potential recovery, WEC Chairman Gale E. Klappa said during an earnings call last week.Dominion can recover the costs of lapsed collections over time for nearly all of its gas utilities. Chief Financial Officer James Chapman said on the Virginia-based company’s first-quarter earnings call that he does not expect “bad debt expense in excess of budgeted amounts to be a material driver for the year.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
RPT-Virus lockdowns pummel global gas demand, force LNG output cuts
Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. Asia's spot LNG prices <LNG-AS> dropped to $1.85 per million British thermal units (mmBtu) last week, the lowest ever, as cargoes have flooded the market.
