Natural Gas News – March 15, 2018

U.S. Takes More Time to Decide on New York Denial for Constitution Natural Gas Pipeline

Reuters reported: U.S. federal energy regulators gave themselves more time to decide whether to rehear their earlier order upholding New York’s denial of a water permit for Williams Cos Inc’s Constitution natural gas pipeline from Pennsylvania to New York. The Federal Energy Regulatory Commission (FERC) on Wednesday rejected Constitution’s request to overturn New York’s denial of a water quality certification in January. If FERC did not act, Williams rehearing request would have been deemed denied within 30 days from the date the request was made, which was Feb. 12. Williams argued New York waived its authority under the Clean Water Act to decide on the water quality certification for Constitution by failing to act within a reasonable period of time. If built, the 125-mile (201-km) pipeline would transport 0.65 billion cubic feet per day of shale gas. New York uses on average about 3.6 bcfd of gas. For more on this story visit reuters.com or click http://reut.rs/2IrY5Q4

Natural Gas Price Analysis for March 15, 2018

FX Empire reported: Natural gas prices reversed course on Wednesday ahead of Thursday inventory report from the Department of Energy. This comes despite a forecast from the National Oceanic Atmospheric Administration that shows that the weather will be cooler than normal over the next 8-14 days, lifting natural gas demand. Demand for distillates which are generally driven by heating demand dropped according to the EIA’s demand report on petroleum products. Natural gas prices reversed lower, dropping through support near the 10-day moving average which is seen near 2.74. Additional support is seen near an upward sloping trend line that comes in near 2.64. For more on this story visit fxempire.com or click http://bit.ly/2DtUCgc