Natural Gas News – January 19, 2018

Natural Gas News – January 19, 2018

Legislators Introduce Measure to Ban Moratorium on New Natural Gas Hookups

Los Angeles Business Journal reported: A pair of state legislators introduced a measure on Jan. 17 to ban any moratoriums on new natural gas hookups. The bill, introduced by state Assembly members Miguel Santiago, D-Los Angeles, and Blanca Rubio, D-Baldwin Park, came in response to the state Public Utilities Commission’s proposal last month to implement a three-month moratorium on new business and industrial gas connections by Southern California Gas Co. The PUC proposed the moratorium after receiving reports that reduced capacity at the Aliso Canyon natural gas storage field could lead to shortages during the peak winter months for gas usage. But the Los Angeles County Business Federation, the Los Angeles Area Chamber of Commerce and the Gas. Co. opposed the moratorium, saying it would needlessly delay gas connections for at least 700 businesses that had either received permission or were waiting in line to connect. For more on this story visit labusinessjournal.com or click http://bit.ly/2ESMV4l

Appalachia Underground Natural Gas Storage Clears 1st Test

Natural Gas Intelligence reported: February natural gas was set to open Thursday about 4 cents lower at around $3.190/MMBtu, with the market turning its attention to the 10:30 a.m. EDT release of this week’s storage report. On Wednesday the February contract surged 10.3 cents to $3.232 despite a relatively mild weather outlook through the end of January. Wednesday’s intraday high of $3.288 was the highest a front-month contract has traded since May 23, when the June 2017 futures contract reached $3.333. The EIA was expected to unveil another large withdrawal to follow last week’s record number. A Reuters survey of traders and analysts on average predicted EIA will report a 199 Bcf withdrawal for the week ending Jan. 12. Responses ranged from -180 Bcf to -215 Bcf. For more on this story visit naturalgasintel.com or click http://bit.ly/2DoSKdN

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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