Nat Gas News – October 13, 2017

Canadian Natural Gas Prices Enter Negative Territory amid Pipeline Outages

Financial Post reports: Pipeline outages and maintenance work have caused volatile swings in Alberta natural gas prices, even pushing them into negative territory recent days. In the past few weeks, Alberta’s benchmark AECO prices have fallen into negative territory – meaning producers have had to pay customers to take their gas – on multiple days. Data from Gas Alberta Inc. show AECO prices fell to -7 cents from Oct. 5 through Oct. 9, and were also negative on Sept. 25. On Thursday morning, the price of natural gas in the province jumped to $1.81 per gigajoule but King warned, “It could crash again tomorrow.” As a result of the volatility in the Alberta market, Kelt Exploration Ltd. announced last week it would temporarily shut in 21.4 million cubic feet of daily natural gas production. For more visit financialpost.com or click the following link http://bit.ly/2ggrjYY

Nexus Gets FERC Nod to Start $2bn Natural Gas Pipeline Construction

Platts reported: A majority of oil and natural gas company executives polled in a survey released Wednesday expect a net decrease in rig deployment next year compared with 2016 levels, as spending by operators slides amid a forecast that US commodity prices will remain cheap. Half of upstream oil and gas executives surveyed expect up to a 10% decline in capital expenditures next year versus last year, including 4 in 10 expecting exploration spending to fall, Deloitte said. Some 58% expect a net decrease in rig deployment. On the midstream side, 56% of executives expect a decrease in capital expenditures in 2018 versus 2016, while only one in eight expect an increase over the next year, the survey found. Pipelines are seen as the best opportunity for growth in 2018, with the Gulf Coast seen as the most enticing region. Top prospects include expanding into new markets such as LNG. For more on this story visit platts.com or click http://bit.ly/2ygqdRO