Nat Gas News – October 23, 2018

Nat Gas News – October 23, 2018

Natural Gas Prices Plummet in Western Canada

Bloomberg reported: Natural gas prices in Western Canada continued their freefall amid restrictions on the area’s main pipeline network and as Enbridge Inc. targeted a mid-November restart for a ruptured pipe that cut off supplies to businesses, homes and oil refineries. Gas at Alberta’s pricing hub dropped to a five-month low on Friday, according to data compiled by Bloomberg. The Nova Gas Transmission Ltd. system currently isn’t allowing interruptible service at its Upstream James River receipt area, or at its East Gate and West Gate delivery areas, according to a notice posted online. The network connects to the damaged Enbridge line through another system. Enbridge said in an update that it expects the 36- inch (91-centimeter) pipeline that burst two weeks ago to be operating at 80 percent of its capacity when it returns to service next month. In the meantime, the company will continue pumping gas through a smaller line that’s in the same right of way as the pipe that burst. For more on this story visit bloomberg.com or click https://bloom.bg/2yu9ewF

Buildings Collapse as Fire Fed by Natural Gas Lines Rips Through NJ Block

NBC Philadelphia reported: Nearly seven dozen people lost their homes as a massive fire fed by natural gas lines tore through a block in Dover, New Jersey, raging for hours as two buildings collapsed Monday. The stubborn fire on Warren Street gutted one building, causing it to collapse. Three other buildings also collapsed. At least 16 fire departments — 200 firefighters and 23 companies — responded and struggled to contain the blaze, which quickly rose to seven alarms. Tanker trucks were brought in to help firefighters with the dwindling water supply. Mayor James Dodd says the fire started around 3:30 p.m. Monday in the basement of Barry’s Luncheonette and then went up and on to other nearby buildings. The scene was still a smoky mess eight hours later, and Dodd said Tuesday morning there was still active fire in the basement of the buildings. For more on this story visit nbcphiladelphia.com or click https://bit.ly/2Pk1PJY

Market Condition Report - Disclaimer
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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