Natural Gas News – June 26, 2018
Natural Gas News – June 26, 2018
What a Summer Scorcher Means for Natural-Gas Prices
Wall Street Journal reported: Low supplies of natural gas could lead to higher prices this summer, as Americans begin to flip on their air conditioning units, boosting demand for the energy source. Stockpiles of natural gas—made plentiful by the U.S. shale boom have become depleted after an extended winter this year increased demand for heating homes. Booming U.S. exports of gas also have absorbed excess inventories, and analysts say cheap prices have made it more popular for power generation, compared with more expensive sources like coal. Natural gas consumption generally rises in the summer months as cooling needs drive energy demand. But this year, the amount of natural gas in storage started June at the lowest level since 2014 for that time of year, and the second lowest level in a decade. Now, with weather forecasts into July showing hotter-than-average temperatures across the U.S., consumers could see a pop in prices. For more on this story visit wsj.com or click https://on.wsj.com/2KjpkQV
U.S. Court Order Stops Some Work on Mountain Valley Natural Gas Pipeline in West Virginia
Reuters reported: EQT Midstream Partners will stop construction in West Virginia of parts of its $3.5 billion Mountain Valley natural gas pipeline after a U.S. federal appeals court issued an order last week against a permit, a U.S. regulator and the company said. The pipeline company will not proceed with construction in waters affected by the stay order in West Virginia, the U.S. Federal Energy Regulatory Commission said in a document on Monday. Mountain Valley Pipeline (MVP) told FERC it was consulting on the implications of the stay by the U.S. Court of Appeals for the Fourth Circuit with the U.S. Army Corps, which issued the permit in December 2017, FERC said in the notice. In May, the U.S. Army Corp of Engineers pulled a permit for the Mountain Valley natural gas pipeline from West Virginia to Virginia. For more on this story visit reuters.com or click https://reut.rs/2yQ35O2
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