Natural Gas News – May 2, 2018

Natural Gas News – May 2, 2018

Cardinal Midstream’s Oklahoma Gas Gathering System Secures Additional Acreage Support

Platts reported: Camino Natural Resources has dedicated output from more than 100,000 acres in Oklahoma’s SCOOP and STACK to Cardinal Midstream’s Iron Horse natural gas gathering and processing system, and its private equity sponsor will devote funds to help grow the system, the companies said Tuesday. The arrangement more than doubles the system’s geographic reach in a region that is increasingly supplying feedgas to LNG export terminals and to other Gulf Coast facilities. The expansion comes as midstream operators are adding infrastructure tied to the Anadarko Basin as they seek to link the prolific gas production there with demand markets in Texas and Louisiana. In addition to LNG exports, the gas also feeds petrochemical facilities and pipeline flows to Mexico, which is heavily reliant on US supplies for power generation. Private equity-backed Cardinal Midstream, in particular, has been very active in the region over the last year. For more on this story visit platts.com or click https://bit.ly/2JMdaf8

Britain’s Keeping More Natural Gas Because It’s So Cold

Bloomberg reported: Britain is so cold it’s keeping more of the natural gas it produces and imports for itself. Over the past month, U.K. gas exports have repeatedly plumbed the lowest levels in at least a decade for this time of the year. Usually, with winter past and heating demand subsiding, Britain would have ample supplies to ship to the continent. Instead, cooler weather and outages at fields in the North Sea are supporting prices in Britain relative to rates on the continent. That’s made shipping the fuel abroad unattractive for now. The trend is visible by looking at pipeline flows from the Interconnector link with Belgium, charted in the graph above. With less fuel coming from Britain and storage sites depleted from the winter, continental Europe is increasingly reliant on flows from Russia and Norway. For more on this story visit bloomberg.com or click https://bloom.bg/2KwOg4I

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