Nat Gas News – October 3, 2017

Nat Gas News – October 3, 2017

Natural Gas Futures Tumble to 3-Week Lows

Investing.com reports: U.S. natural gas futures started the week on a downbeat note on Monday, with prices sliding to their lowest level in around three weeks, as traders reacted to the reality that higher demand for the commodity was coming to an end. Warm high pressure will quickly strengthen and expand east of the Plains this week with widespread highs of upper 60 to near 80°F across the northern U.S. and 80’s to locally near 90°F over the southern U.S. Gas futures often reach a seasonal low in October, when mild weather reduces demand, before recovering in the winter, when heating fuel use peaks. For more on visit investing.com or click the following link http://bit.ly/2fKXYG1

Ontario is about to become a Natural Gas Battleground — and the Winners Will Be Consumers

The Financial Post reported: Alberta natural gas producers aim to wrestle back market share from their U.S. counterparts in booming eastern Canada, after Trans- Canada Corp. slashed its tolls by 58 per cent on its pipeline system that sends gas from Empress, Alta. to southern Ontario. TransCanada agreed to cut its tolls from $1.86 per gigajoule to 77 cents per GJ with 23 shippers, who in turn, committed to ship 1.4 billion cubic feet of natural gas per day on the system for 10 years. The new contracts were signed in March and approved by the National Energy Board on Sept. 21, which led to an immediate drop in Ontario natural gas prices. TransCanada would consider more deals to ship natural gas from Western Canada to the Dawn, Ont. storage hub given the success of its reduced tolling arrangement, company spokesperson Shawn Howard. The cut in toll should also see Ontarians’ winter heating bills fall this year as the country’s most populous province becomes a battle ground for natural gas competition.