Nat Gas News – September 28, 2018
NYMEX Nov Natural Gas Futures Soar to $3.057/MMBtu on First Day of Trading on Bullish Injection
SP Global reported: The NYMEX November natural gas futures jumped on the first day of trading as the front-month contract Thursday, on a bullish storage report released by the US Energy Information Administration. As of 11:30 am EDT (1530 GMT), the front-month contract traded at $3.057/MMBtu, up 7.70 cents after moving between $2.963/MMBtu and $3.067/MMBtu so far in the session. The EIA announced on Thursday a 41-Bcf injection for the week ended September 21, significantly lower than the five-year average of 81 Bcf, and also much lower than the 61-Bcf injection expected for the week by a consensus of analysts surveyed by S&P Global Platts. This was the lowest injection seen in the past five weeks and has slowed down the momentum seen in September injections.
Mississippi is Top Spot for $2.7 Billion in U.S. Natural Gas Storage Projects, An Industrial Info News Alert
Market Watch reports: Despite the boom in domestic natural gas production, there seems to be plenty of room to spare at U.S. natural gas storage facilities. Current natural gas storage remains well below benchmarks. Inventories stand at 2.72 trillion cubic feet, about 17.7% below the five-year average and nearly 20% below the same time last year, according to the U.S. Energy Information Administration (EIA). Industrial info is tracking nearly $2.7 billion in active U.S. natural gas storage projects, the vast majority of which are in Mississippi. Within this article: Details on some of the highest-valued natural gas storage projects in the U.S., including those from SeaOne Holdings LLC and D’Lo Gas Storage LLC.