Natural gas prices have plummeted in North Dakota because of a regional supply glut and lack of pipeline capacity to the more lucrative Gulf and West Coast markets, according to the state’s top oil and gas regulator.

The price of natural gas delivered to TC Energy Corp.’s Northern Border pipeline system at Watford City, ND, had fallen to $2.88/Mcf as of Tuesday (Jan. 17), the lowest since December 2021, said the Department of Mineral Resources’ (DMR) Lynn Helms, oil and gas division director. 

The low price is “due to oversupply in the Midwest U.S. even as LNG prices in Europe remain very high,” Helms said. 

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