Nat Gas News – October 17, 2018

Nat Gas News – October 17, 2018

NYMEX Nov natural gas futures fluctuate on offsetting temperature forecasts

S&P Global Platts reported: The NYMEX November natural gas futures contract fluctuated in morning trading Tuesday, likely due to offsetting US temperature forecasts. As of 11:15 am EDT (1515 GMT), the front-month contract was up 1.8 cents, trading at $3.260/MMBtu, after moving between $3.210 /MMBtu and $3.311/MMBtu so far in the session. The National Weather Service calls for a likelihood of below-average temperatures across much of the Midwest, Northeast and Southern regions, while warmer-than-average temperatures are in forecast in the Rockies, Northwest and Southwest regions, which is driving up both gas-fired power burn and heating demand. Power burn is set to gain 300 MMcf day on day and reach 25.9 Bcf, while residential and commercial demand is projected to gain 400 MMcf day on day and sit at 24.3 Bcf Tuesday, S&P Global Platts Analytics data showed. On the same day a year ago, both power burn and heating demand were lower at 24.8 Bcf and 19 Bcf, respectively. For more on this story visit spglobal.com or click https://bit.ly/2pVq4Qe

Shell gas project in Canada gets greener amid LNG climate worry

CNBC reported: GROUNDBIRCH, British Columbia, Oct 16 (Reuters) – At a massive natural gas field in northern British Columbia, Royal Dutch Shell Plc is using new technologies and processes to cut emissions to address public and environmental group concerns that Canada’s nascent liquefied natural gas export industry could be a climate time bomb. The Groundbirch project, perched above Canada’s richest shale gas deposit some 1,110 kilometers (684 miles) northeast of Vancouver, includes four gas plants and 500 wells dotted over an area the size of New York City. Shell has already slashed project emissions by moving its newest gas plant to hydro-electric power and replacing diesel with natural gas in drilling, and is now tackling methane with new electric components and a fuel cell trial. For more on this story visit cnbc.com or click https://cnb.cx/2yqDfxf

 

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