Nat Gas News – June 1, 2017

By Published On: June 1, 2017Categories: Daily Natural Gas Newsletter

Nat Gas News – June 1, 2017

In the News

GAZ Metro Looks to Send Liquefied Natural Gas into Vermont

VT Digger reports: The parent company of Vermont Gas Systems, which recently completed a natural gas pipeline in Vermont, is now offering another fuel option to businesses in the state: liquefied natural gas. Gaz Metro — Quebec’s largest natural gas distributor — has tripled production at a liquefied natural gas facility in Montreal. The new production is meant to serve Quebec’s heavy industries in the province’s northern reaches, executives say. The Quebec government has plans to continue expanding its natural gas distribution networks, for both economic reasons and expected environmental benefits of the fuel compared with other fossil fuels, according to the province’s energy policy. The LNG that Gaz Metro exports into the United States will probably serve large industrial clients, Imbleau said, including energy suppliers who would employ it “for peaking purposes.”

Sellers Continue to Drive Natural Gas Prices Lower

Economic Calendar reports: Natural gas prices continue to plummet, with the contract for July delivery on New York Mercantile Exchange dropping more than 2% to $3.07/MMBtu in today’s trading. Today’s selloff in natural gas prices represents the sixth decline in the last seven sessions. As a result of the precipitous selloff, the July contract is now testing potential support at the March 17th low at $3.08. The test of this support, combined with the extreme oversold condition impacting the market, suggests a period of stabilization or rebound could develop over the near term. Open interest in natural gas futures increased a modest 1,742 contracts during Tuesday’s decline. If this increase, however, represents the early stages of a consistent rise in outstanding positions as prices decline, the case for lower natural gas prices in the weeks ahead would be boosted further.

This article is part of Daily Natural Gas Newsletter


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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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