Nat Gas News – March 30, 2017

Nat Gas News – March 30, 2017

In the News

Settlement reached over 2016 Seattle natural gas explosion

Spokesman.com reports: Officials say pipeline safety regulators and Puget Sound Energy have reached a settlement over a complaint regarding a natural gas explosion in the Greenwood neighborhood of Seattle last year. The state Utilities and Transportation Commission said Tuesday the settlement would impose a penalty of $2.75 million with $1.25 million suspended if Puget Sound Energy completes an inspection and remediation program. The complaint alleged five violations related to improper pipeline deactivation and failure to perform gas leak surveys and corrosion tests. In the settlement, the company did not contest the five violations. Officials said the March 9, 2016, explosion that injured nine firefighters and damaged about three dozen businesses was caused by damage to an above-ground service line in an area where a pipeline was left active despite being abandoned in 2004. For more on this story visit spokesman.com or click http://bit.ly/2nP72LI

U.S. natural gas builds on gains to reach 8-week high

Investing.com reports: U.S. natural gas futures edged higher for the second session in a row on Wednesday, hitting the strongest level since early February as traders continued to monitor shifting early-spring weather forecasts. There remains potential for a bit colder system from April 7 through the 10th and will be dependent on how a weather system tracking over the southern U.S. phases with a cold blast over the Midwest. Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting forecasts on early-spring demand. For more on this story visit investing.com or click the following link http://bit.ly/2nkiPhZ

 

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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