Natural Gas News – November 27, 2017

Natural Gas News – November 27, 2017

US Appeals Court Orders Halt on Natural Gas Pipeline in Ohio

ABC News reported: A city facing long odds of stopping section of a $2 billion natural gas pipeline from being built there was handed a victory this week when a federal appellate court issued an emergency order that temporarily halts the start of construction. The 6th U.S. Circuit Court of Appeals in a 2-1 decision on Wednesday ruled that the city of Green, in northeast Ohio’s Summit County, is likely to prevail in a federal petition it filed with the court last month claiming that the state Environmental Protection Agency failed to follow its own rules when it granted NEXUS Gas Transmission a clean water certificate for the project. Green argues that the 8-mile (13-kilometer) pipeline section could damage environmentally sensitive areas, including a bog that contains protected plant and animal species. The EPA has said in court documents that it followed its rules. For more visit abcnews.go.com or click http://abcn.ws/2AadYcm

Russia Warns Global Gas Oversupply Could Trigger Price ‘Crisis’

Reuters reported: SANTA CRUZ, Bolivia (Reuters) – Global gas supplies currently exceed demand, a situation that could lead to a “crisis” drop in prices similar to what occurred in the crude oil market, Russian energy minister Alexander Novak said on Friday. “The current excess supply of natural gas brings risks… of entering into the same crisis that affected oil prices,” Novak said at the Gas Exporting Countries Forum (GECF) in Bolivia, where top officials of major gas-producing countries have been meeting this week. Gas prices have plunged more than 80 percent in the last decade and remain under pressure due to growing supplies of shale gas and increased availability of liquefied natural gas (LNG) that can be shipped overseas. Novak said the threats to global gas prices underscore the importance of long-term supply contracts, in which producers can be assured a stable price over the course of years instead of being subject to the ups and downs of the market. For more visit reuters.com or click http://reut.rs/2hWfqVC

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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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