May Natural Gas Futures Sputter as Benign Weather Intersects with Stout Supply

Lighter shoulder season demand and soft export data overshadowed bullish production estimates and weighed down natural gas futures to kick off trading this week. At A Glance: Weak near-term demand Production remains softer NGI models 55 Bcf injection The May Nymex gas futures contract on Monday settled at $1.691/MMBtu, down 7.9 cents day/day. Cash prices…

Equitrans Agrees to $1.1M Fine for Major 2022 Natural Gas Storage Well Leak in Pennsylvania

The Pennsylvania Department of Environmental Protection (DEP) has fined Equitrans Midstream Corp. $1.1 million for a storage well that leaked 1 Bcf of natural gas into the atmosphere for more than 10 days in November 2022.  In all, 223 tons of carbon dioxide, 27,040 tons of methane and 106 tons of volatile organic compounds (VOC)…

April 15, 2024

Risk of Broader Middle East Conflict Keeps Global Natural Gas Market on Edge – LNG Recap

Global natural gas prices were stable Monday despite Iran’s unprecedented attack on Israel as the market assessed whether a broader conflict could break out in the Middle East.  The May Title Transfer Facility contract in Europe climbed 1% to finish near $9.70/MMBtu, adding to the strongest gains last week since October amid rising geopolitical tensions.…

April 15, 2024

EQT Gaining More Natural Gas-Rich Appalachia Acreage as Equinor Exiting Operated Lower 48 Position

EQT Corp., the nation’s largest natural gas producer, is swapping some Pennsylvania holdings in the Marcellus Shale in an exchange with Norway’s Equinor ASA, which is handing off its operations in Ohio and paying $500 million to balance the overall transaction. The agreement with Equinor USA Onshore Properties Inc. and affiliates includes 100% of its…

April 15, 2024

DeLa Express Joins Rush to Add Permian Natural Gas Takeaway Capacity

DeLa Express LLC is seeking to construct a 2 Bcf/d interstate pipeline to help ease the glut of natural gas trapped in the Permian Basin.  The independent energy infrastructure company, an affiliate of Houston-based Moss Lake Partners LP, in early April asked FERC to begin the prefiling review for a 42-inch diameter, 690-mile pipeline.  The…

April 15, 2024