Natural Gas News – July 28, 2017

Natural Gas News – July 28, 2017

PSE&G Proposes Five-Year Program to Continue Natural Gas Infrastructure Upgrades

Benzinga reports: Public Service Electric and Gas Company (PSE&G), New Jersey’s largest utility, today unveiled a proposal for the second phase of its natural gas infrastructure modernization program. If approved by the New Jersey Board of Public Utilities (BPU), the program will enable PSE&G to continue to accelerate the replacement of its aging cast -iron and unprotected steel gas pipes – installing 1,250 miles of new gas mains over a five-year period. The proposed cost is about $540 million a year, or $2.7 billion in total. PSE&G has just under 4,000 miles of cast-iron gas pipes, which is more than any other utility in the nation. At the pace proposed today, the utility can replace in 20 years its cast-iron and unprotected steel pipes with new, modern plastic pipes. Benefits of the work include improved safety and reliability of gas service, reduction in methane emissions and creation of jobs. The upgraded lines will operate on elevated pressure to support the expanded use of high-efficiency appliances, improving customer satisfaction, and reducing customer’s energy bills and emissions through improved efficiency. For more visit benzinga.com or click http://bit.ly/2uCwPJX

U.S. Natural Gas Futures Spike Higher after Weekly Storage Data

Investing.com reports: U.S. natural gas futures rose to the highest levels of the session in North American trade on Thursday, after data showed that domestic supplies in storage rose less than anticipated last week. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 17 billion cubic feet in the week ended July 21, below forecasts for a build of 24 billion. For more visit investing.com or click the following link http://bit.ly/2vNhPYf

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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