LNG

Jan 27 (LNG) - The US state of Texas is battling its way through the energy markets slump ahead of US liquefied natural gas export start-ups. Estimated Texas natural gas output last month was nearly 750.5 billion cubic feet, a year-on-year monthly decline 0.5 percent, according to the latest Texas Petro Index report. With natural gas prices in December averaging $1.91 per thousand feet, the value of Texas-produced gas declined 42.4 percent to about $1.43 billion. Crude oil production in Texas last month totalled an estimated 107.8 million barrels, 1.9 percent more than in December the previous year. The value of the Texas crude totalled more than $3.64Bln, 38 percent less than in December 2014. "In the big picture, crude supplies continue to outpace global demand, and the unfortunate likely outcome is relatively low prices in 2016," the report said.