Natural Gas News – January 29, 2018
Natural Gas News – January 29, 2018
With More Frigid Weather Forecast, Northeast February Prices Jump by $2-Plus
Natural Gas Intelligence reported: The potential for another cold blast in February sent natural gas forward prices for the month up by an average of 51 cents from Jan. 19- 25, with far stronger gains of more than $2.00 in the Northeast, where recent cold snaps have caused pipeline restrictions and volatility in both cash and forwards markets alike, according to NGI’s Forward Look. Futures and forwards markets raced out of the gate last Monday (Jan. 22) as weather models pointed to a cold air mass returning to the United States in early February. Those weather forecasts did not change on Tuesday, and strength in the cash market helped lend support to February prices. Last Tuesday alone, the Nymex February futures contract soared 22 cents to $3.44, the highest settlement since Dec. 2016. Thursday’s storage report from the U.S. Energy Information Administration appeared to justify those concerns as it reported a 288 Bcf withdrawal from inventories for the week ending Jan. 19. For more visit naturalgasintel.com or click http://bit.ly/2E9mus3
NC Approves Atlantic Coast Pipeline Permit through 8 Counties
Charlotte Observer reported: A key state permit for the Atlantic Coast Pipeline was approved by state regulators on Friday, clearing a major hurdle for the interstate natural gas project to move ahead in North Carolina. The state Department of Environmental Quality announced its decision more than a year-and-a-half after Duke Energy and other partners filed their application, and opponents immediately vowed legal challenges to try to block the project. The approval for the underground pipeline comes with a number of conditions for testing, monitoring and inspections. The Atlantic Coast Pipeline has already received several federal permits, as well as approvals from Virginia and West Virginia regulators, leaving North Carolina as the last major hurdle. For more visit charlotteobserver.com or click http://bit.ly/2Gk3hEL
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