Natural Gas News – July 31, 2017

Natural Gas News – July 31, 2017

Proposed Mountaineer XPress Gas Pipeline Clears Environmental Hurdles

Platts reports: The second-largest natural gas expansion project proposed in the US Northeast reached a key milestone Friday, when the FERC released a favorable final environmental impact statement. FERC staff concluded there would be some adverse and significant impacts from Columbia Gas Transmission’s 170-mile, 2.7 Bcf/d Mountaineer XPress project running through West Virginia, but that, with various environmental plans, mitigation measures and further staff recommendations, those impacts would be “reduced to acceptable levels.” The Mountaineer XPress project is roughly 500 MMcf/d shy of Rover Pipeline’s 3.25 Bcf/d capacity. The West Virginia Department of Environmental Protection this week granted a Section 401 water quality certification for the pipeline. For more on this story visit platts.com or click http://bit.ly/2u5Hklv

U.S. Weather Could Drive Natural Gas Demand

Market Realist reports: US natural gas futures contracts for September delivery were trading flat at $2.96 per MMBtu in electronic trading at 1:45 AM EST on July 28, 2017. Prices are near a four-month low. The United States Natural Gas ETF follows US natural gas futures. It’s also near a four-month low. It rose 1.4% to 6.64 on July 27, 2017. It has fallen 29% YTD (year-to-date). However, US natural gas futures have fallen 16.5% YTD due to mild weather and oversupply The EIA estimates that electricity generation will use less natural gas this summer—compared to the previous summer. However, US natural gas would have the highest share in electricity generation. US natural gas would have a share of 34% compared to 32% coal of for electricity generation this summer. For more visit marketrealist.com or click http://bit.ly/2h9GeE7

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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