Nat Gas News – March 23, 2017

In the News

Kinder Morgan plans 430-mile Permian natural gas pipeline

Houston Chronicle Reports: Kinder Morgan is planning the next big pipeline project coming from the booming Permian Basin, but one that would transport natural gas, rather than oil. The pipeline, which would run from Waha in West Texas to the Agua Dulce near Corpus Christi, where it could be consumed locally by power generators and petrochemical plants, piped to Mexico or exported overseas as liquefied natural gas. The Texas power grid increasingly relies on natural gas for electricity generation, while the rapidly growing petrochemical industry needs natural gas liquids as feedstock to make chemicals and plastics. Likewise, new Gulf Coast liquefied natural gas projects need gas to convert into LNG for exporting. Finally, Mexico is also using Texas shale gas to generate electricity. Kinder Morgan said it is seeking customers for the pipeline through April 20 before moving forward with construction. For more visit houstonchronicle.com or click the following link http://bit.ly/2myNMT3

U.S. natural gas futures turn lower after weekly storage data

U.S. natural gas futures reversed gains on Thursday morning, turning lower after data showed that natural gas supplies in storage in the U.S. fell broadly in line with market expectations. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. declined by 150 billion cubic feet in the week ended March 17, matching forecasts. Meanwhile, updated weather forecasting models showed that warm to mild conditions will dominate most of the U.S. this weekend, even as a spring-like weather system with heavy showers and thunder storms impacts the central U.S. For more visit nasdaq.com or click http://bit.ly/2mYf9RP