Natural Gas Market Gears Up for Energy Shortages and Surge in Prices

NEW YORK, Jan. 5, 2022 /PRNewswire/ -- After experiencing the worst drop since the Great Depression, demand for fossil fuels like coal, natural gas, and oil are roaring back to pre-pandemic levels. Despite hopes that the COVID-19 crisis would lead to a faster transition to clean energy, the fact remains that over three-quarters of global energy needs are still being met by fossil fuels. Until the world makes a full transition to clean energy, fossil fuel demand will likely remain high. Meanwhile, several factors such as global shortages, the offline Russian Nord Stream 2 pipeline, cold weather, and a power crunch in China are expected to keep prices elevated in Europe and the US, creating a perfect storm for oil and gas companies like NG Energy International Corp. (TSXV:GASX) (OTCQX:GASXF), Cardinal Energy Ltd. (TSX:CJ) (OTCPK:CRLFF), Crescent Point Energy Corp. (NYSE:CPG) (TSX:CPG), Contango Oil & Gas Co. (NYSE:MCF) and Cheniere Energy Inc. (NYSE:LNG).