Natural Gas News – September 7, 2018

Natural Gas News – September 7, 2018

US natural gas storage volume rises 63 Bcf to 2.568 Tcf: EIA

SP Global reported: US natural gas in storage increased by 63 Bcf to 2.568 Tcf for the week ended August 31, Energy Information Administration data showed Thursday. The build was slightly more than an S&P Global Platts’ survey of analysts calling for a 60-Bcf addition. The injection was more than the 60-Bcf build reported during the corresponding week in 2017 but less than the five-year average addition of 65 Bcf, according to EIA data. As a result, stocks were 643 Bcf, or 20%, less than the yearago level of 3.211 Tcf, and 590 Bcf, or 19%, less than the fiveyear average of 3.158 Tcf. The injection was less than the 70-Bcf build reported the week prior as population-weighted temperatures increased by 2 degrees across the Lower 48 states, adding 9 Bcf of additional gas-fired power demand, according to S&P Global Platts Analytics. For more on this story visit spglobal.com or click https://bit.ly/2wQyNHq

Russia’s Huge Natural Gas Pipeline To China Nearly Complete

Oil Price reports: Gazprom’s Power of Siberia natural gas pipeline from Russia to China is 93 percent complete, the Russian gas giant said in an update on its major projects. A total of 2,010 kilometers (1,249 miles) of pipes are laid for the Power of Siberia gas pipeline between Yakutia and the Russian-Chinese border, or on 93 percent of the route’s length, Gazprom said in a statement. The natural gas pipeline is expected to start sending gas to China at the end of 2019 and its completion is among Gazprom’s top priorities. The two-string submerged crossing of the Power of Siberia pipeline under the Amur River is 78 percent complete, and the Atamanskaya compressor station adjacent to the border is also under construction, the Russian company says. Gazprom has a 30 -year contract with CNPC for the supply of an annual 1.3 trillion cu ft of natural gas via the infrastructure. For more on this story visit oilprice.com or click https://bit.ly/2Q998Sd

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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