Natural Gas News – March 29, 2019
Natural Gas News – March 29, 2019
China To Cut City-Gate Natural Gas Prices And Pipeline Fees From April 1
S & P Global reported: uietly for much of the country, coal legend Pennsylvania has become the second most vital natural gas state. At over 18 Bcf/ d, Pennsylvania now yields over 20% of all U.S. gas, only behind Texas’ 22 Bcf/d. In the 10 years since a shale revolution took flight in its Marcellus play, Pennsylvania’s gas output has exploded 32-fold. Over that time, Pennsylvania has been responsible for 6 Tcf of the entire nation’s 11.6 Tcf of new gas supply. With so much gas being produced and transacted in the region, some have even suggested that Dominion South hub 40 miles northeast of Pittsburgh should become the new benchmark for U.S. gas prices, taking over for Henry Hub in Louisiana. For its own part, with massive low cost local supply, Pennsylvania has been turning more to natural gas to meet energy demand. For more on this story visit spglobal.com or click https://bit.ly/2TGIXD8
India Raises Natural Gas Price For April-Sept By About 10 pct To $3.69/mmBtu
Reuters reports: India has raised the price of its locally produced gas by about 10 percent to $3.69 per million metric British thermal units (mmBtu) for the April-September period, compared with the previous six months, a source aware of the development said. India has also set the ceiling price for gas to be produced from difficult fields at $9.32 per mmBtu for April- September, up about 21.5 percent from $7.67 per mmBtu in the previous six months, the source told Reuters on Friday. The government will formally announce the revised prices later in the day, the source said. The prices will be applicable on gross heat value basis. The increase in natural gas prices means higher prices for gas for fertilizers, automobiles and households. Higher gas prices, however, will lead to higher earnings for state-owned Oil and Natural Gas Corp Ltd and Oil India Ltd. (Reporting by Nidhi Verma Writing by Swati Bhat Editing by Subhranshu Sahu) For more on this story visit af.reuters.com or click https://bit.ly/2FIyRO9
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