Natural Gas News – April 15, 2020
U.S. natural gas slips as exports decline, coronavirus demand destruction worries
Reuters: U.S. natural gas futures slipped for a fifth day in a row on Wednesday as pipeline and liquefied natural gas (LNG) exports declined and on long-term forecasts government steps to slow the spread of coronavirus will cut demand in coming months. Traders noted those price decline came despite a slowdown in output and short-term forecasts for cooler weather and higher heating use over the next two weeks than earlier expected. Front-month gas futures for May delivery on the New York Mercantile Exchange fell 2.9 cents, or 1.8%, to $1.621 per million British thermal units at 8:12 a.m. EDT (1212 GMT), their lowest in over a week. That puts the front-month down for a fifth day in a row for the first time since October. During that time, the contract has lost about 12%. For more on this story visit reuters.com or click https://reut.rs/2VtEFlu
CenterPoint sale to make major player in US natural gas and electric infrastructure market
ICLG reports: PowerTeam, an infrastructure services provider to natural gas and electric companies, has agreed to purchase two natural gas distribution and transmission pipeline contractor businesses from energy delivery business, CenterPoint Energy. CenterPoint is receiving legal and financial advice from Latham & Watkins and JP Morgan, respectively, with Credit Suisse and UBS Investment Bank acting alongside Harris
Williams as financial advisers to PowerTeam. Debevoise & Plimpton offered legal advice to the latter. The transaction is expected to be finalized in the second quarter of this year. Following completion, PowerTeam, which is a portfolio company of US private investment firm Clayton, Dubilier & Rice, will hold revenues of approximately USD 2 billion, making it a leading construction and maintenance services provider in the natural gas and electric market in the United States. For more on this story visit reuters.com or click https://bit.ly/2xwfeHT
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