Nat Gas News – August 24 2017

Nat Gas News – August 24 2017

Mexico Launches its First Gas Price Index

Oilprice.com reported: Mexico’s energy regulator has announced the first publication of a natural gas wholesale price index for the first time since introducing sweeping energy reforms, with more regional indices on the way. The index will come out monthly and will be based on wholesale transactions on the local gas market, made up of a national average of all such transactions as reported by gas marketers every month. Eventually, the index will reflect daily natural gas prices, as the energy watchdog works to provide all market participants with more transparency to stimulate trade. Currently, gas marketers in the country are obliged to submit daily and monthly reports on their transactions. The purpose is to collect data on day-ahead spot market sales and the reporting system has been in place since the end of last year but it was only last month that traders could start actually reporting transactions, after a capacity reservation regime came into effect. For more visit oilprice.com or click the following link http://bit.ly/2g6rYvz

U.S. Gulf Coast Refiners, Producers Brace for Tropical Storm

Reuters reports: Oil and gas producers from Mexico to Louisiana are gearing up for heavy rains and winds this week as remnants of a tropical storm circulating over Mexico’s Yucatan Peninsula threaten to redevelop into a cyclone. The remains of Tropical Storm Harvey, which are scattered over Mexico, have a 90 percent chance of developing into a cyclone over the next two days, the National Hurricane Center said on Tuesday. The U.S. Gulf of Mexico is home to about 17 percent of the nation’s crude output and 5 percent of dry natural gas output, according to the U.S. Energy Information Administration. More than 45 percent of the nation’s refining capacity is along the U.S. Gulf Coast. For more on this story visit reuters.com or click http://reut.rs/2wz3UbT