Natural gas futures gave back some of Tuesday’s gains Wednesday after TC Energy Corp. said it was able to isolate the impacts of a rupture of its Nova Gas Transmission Ltd. (NGTL) pipeline in Western Canada.

At A Glance:

  • NGTL incident is contained
  • Analysts expect moderate injection
  • Production at 98.4 Bcf/d

Futures jumped more than 10.0 cents Tuesday afternoon after the incident. TC Energy later confirmed the pipeline had ruptured, but the affected section of pipe was isolated and shut down.

“The remainder of our system is operating normally, and there are no commercial impacts at this time,” TC Energy said.

NGTL’s line pack was down around 0.8 Bcf/d, according to TC Energy’s website. Meanwhile, Lower 48 Canadian gas imports rose day/day by about 0.1 Bcf/d to...