Natural Gas News – April 3, 2018

Natural Gas News – April 3, 2018

EIA: Gas Storage Design Capacity Slightly Up

Hydrocarbon Engineering reported: The US Energy Information Administration’s (EIA) latest ‘Today In Energy’ report suggests that relatively little new underground natural gas storage capacity was built in the Lower 48 states over the past four years. EIA measures natural gas storage capacity in two ways, namely design capacity and demonstrated maximum working gas volume (or demonstrated peak). In 2017, design capacity grew by approximately 1%, and demonstrated peak fell by 1%. Design capacity is the sum of the working gas capacity for all active facilities in the Lower 48 states as of November 2017. Design capacity is based on the physical characteristics of the reservoir, installed equipment, and operating procedures particular to the site. Nationally, design capacity rose by 34 billion ft3, or 0.7%, between November 2016 and November 2017. This increase was driven by expansion in the East storage region, where design capacity grew by 30 billion ft3 (2.9%) in 2017. Most of the incremental capacity last year came from expansions to existing facilities, and expansions were heavily concentrated in the East region, where natural gas production has grown almost continually since 2009. For more visit hydrocarbonengineering.com or click http://bit.ly/2GtABNf

May NYMEX Natural Gas Futures at $2.674/MMBtu Drifts in Search of Support

Platts reported: May natural gas futures moved on both sides of the ledger in the US overnight ahead of Tuesday’s open, in search of fresh support for sharper moves in either direction. Having closed 5 cents lower Monday, the contract was down 0.9 cent at $2.674/MMBtu at 7:10 am ET , after trading in a range of $2.670-$2.691/MMBtu. Lingering cold weather in midrange forecasts is providing the market with some modest upside support. For more visit platts.com or click http://bit.ly/2H5f3DE

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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