Natural Gas News – March 20, 2019
Natural Gas News – March 20, 2019
Get Your Natural Gas In Texas For A Dime, Prices Fall To Record Low
Reuters reported: Next-day natural gas prices for Wednesday at the Waha hub in West Texas plunged to a record low due to an equipment failure in New Mexico that stranded gas in the Permian basin. Spot prices at the Waha hub collapsed to an average of just 12 cents per million British thermal units (mmBtu) for Wednesday. That fell below the contract’s prior all-time low of 21 cents in February and compares with an average of $1.72/mmBtu so far this year, $2.10 in 2018 and a five-year (2014-2018) average of $2.80, according to data available on the Refinitiv Eikon going back to 1991. The equipment failure was on El Paso Natural Gas Pipeline Co LLC’s Lordsburg and Florida compressor stations. That failure, which caused El Paso to declare a force majeure, cut the operational capacity through the stations by about 0.2 billion cubic feet per day to around 0.4 bcfd starting on Tuesday. For more on this story visit reuters.com or click https://reu.trs/2WbuOiQ
Ohio Valley Region Will Supply Nearly Half Of U.S. Nat Gas By 2040
Kallanish Energy reported: Natural gas production from the Marcellus and Utica Shale plays in Ohio, Pennsylvania and West Virginia will supply 45% of U.S. natural gas by 2040, up nine percentage points from 2019, according to a new IHS Markit study. The study found by 2020, cost advantages for the production of various natural gas liquids in the Midwest vs. the U.S. Gulf Coast are expected to range from 6% to 26%, Kallanish Energy found. Production of natural gas liquids ethane, propane and butane is expected to nearly double between 2019 and 2040, accounting for 19% of the nation’s total by 2040, up from 14% in 2018, the study projects. The study, “Estimated Logistics Benefits of the Shale Crescent USA Region Versus the U.S. Gulf Coast for Natural Gas and LPG” was released Tuesday at the World Petrochemical Conference in San Antonio, Texas. For more on this story visit kallanishenergy.com or click https://bit.ly/2OeJk6A
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
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.
