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April Natural Gas Nosedives on Further Warmer Trends in Weather Outlooks, Bearish Storage Data
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April Natural Gas Nosedives on Further Warmer Trends in Weather Outlooks, Bearish Storage Data

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NGI's Daily Gas Price Index

February 28, 2020

Oil, Gas Operators Forecast to Slash E&P, Project Spending on Coronavirus Impacts

Global exploration and production (E&P) investments may take a substantial hit this year because of the coronavirus, as staffing and supply shortages at key construction yards in Asia and beyond delay project deliveries by up to a year.
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No Doomsday Scenario Seen for U.S. Energy Market in Tricky Predictions of LNG Shut-Ins

U.S. liquefied natural gas (LNG) terminals are unlikely to shut in significant amounts of the super-chilled fuel this year, but as the export market confronts historically low prices and a global supply glut, it’s not a possibility that can be easily ruled out or even defined. 

Natural Gas Tumbles; Demand ‘Falling Off a Cliff’ as Coronavirus Spreads Fear of Slowdown

Against a backdrop of global economic anxiety over the coronavirus outbreak, the prospect of an early spring offered natural gas futures bulls no quarter in early trading Friday. Following a steep 8.5-cent sell-off in the previous session, the April Nymex contract was down another 7.6 cents to $1.676/MMBtu shortly after 8:30 a.m. ET.
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April Natural Gas Nosedives on Further Warmer Trends in Weather Outlooks, Bearish Storage Data

The April Nymex natural gas futures contract made a splash on its first day at the front of the curve. The prompt month...

4Q2019 Earnings: Apache Exits Alpine High as Low Natural Gas Prices, Lack of Infrastructure Take Toll

The Alpine High in West Texas, where Apache Corp. threw its chips into making the No. 1 prospect in its portfolio, has crashed on low natural gas and liquids prices, forcing the Houston independent to walk away.
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Tellurian Negotiations for Driftwood LNG Deal With Petronet Yet to Bear Fruit, Deadline Extended

Still seeking the commitments it will need to reach a final investment decision on its proposed Driftwood liquefied natural gas export project, Tellurian Inc. said it has extended negotiations with prospective buyer Petronet LNG Limited of India.

Low Natural Gas Pricing Aids Record Carbon Reduction for Minnesota Utility Xcel Energy

Low natural gas prices helped further Xcel Energy in its quest to deliver 100% carbon-free electricity to customers by 2050, with the utility recording its largest single-year decline in emissions in 2019.
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EIA Reports Low-Ball Storage Draw; Reaction Muted as NatGas Futures Already Much Lower

After weeks of tight, bullish surprises, the U.S. Energy Information Administration reported a smaller-than-expected 143 Bcf natural gas...
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BP Cutting Ties to Three U.S. Energy Groups, Citing Climate Policy Conflict

Following a review of how its climate-related policies align with their activities, BP plc is dropping its membership in three U.S.-based oil and gas groups and suggested other North American trade organizations may be on the tipping point.

Columbia Gas Exiting Massachusetts in $1.1B Deal, Paying Record Fine in Wake of 2018 Explosions

NiSource Inc. subsidiary Columbia Gas of Massachusetts (CMA) has agreed to plead guilty and pay a $53 million fine in connection with the series of deadly natural gas explosions that rocked three communities north of Boston in September 2018.

Euro Model Much Warmer for Early March; Natural Gas Futures Drop Below $1.80

A large milder shift in one of the major weather models overnight sent natural gas futures tumbling heading into Thursday’s trading. Entering its first session as the front month, the April Nymex contract was down 6.4 cents to $1.773/MMBtu at around 8:40 a.m. ET.
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Late Selling Pressure Drives March NatGas Lower at Expiration; Cash Climbs as Cold Arrives

With brief snaps of cold air expected to continue popping up across the United States into the early part of next month, natural gas bulls took the cue to lift the expiring March Nymex gas futures contract to a $1.880/MMBtu intraday high before aggressive selling into the close pushed the contract down to $1.821, off 2.6 cents day/day. April, which takes over the prompt-month position on Thursday, fell 1.4 cents to $1.837.
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Analysts Slash 2020 Natural Gas Price Forecast; More Cuts Said Needed as Coronavirus Hits Crude

As the market prepares to exit a decidedly underwhelming winter, Goldman Sachs Commodities Research...
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Venture Global Inks Another Supply Deal for Plaquemines LNG

Venture Global LNG Inc. has signed a deal to supply Paris-based utility Électricité de France SA (EDF) with super-chilled natural gas for 20 years from its proposed export terminal in Plaquemines Parish, LA.
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National Grid’s NYC Long-Term NatGas Supply Constraint Solutions Heavy on LNG

In an effort to meet current and future New York City natural gas supply constraints, National Grid is planning to deploy a series of measures to maintain near-term system reliability while mulling over a host of longer-term solutions, a number of which prominently feature liquefied natural gas (LNG).

3D"Sign

NGI's Bidweek Alert Day 4 - February 27th for March 2020
For more detailed information please download the Excel data file
FIXED RANGE BASIS RANGE
South Texas
Agua Dulce -- --
Florida Gas Zone 1 -- --
NGPL S. TX -- --
Tennessee Zone 0 South -- -0.1225 to -0.1000
Texas Eastern S. TX -- -0.0600 to -0.0600
Transco Zone 1 -- --
East Texas
Carthage -- --
Houston Ship Channel -- -0.0425 to -0.0425
Katy -- --
NGPL TexOk 1.675 to 1.685 -0.1675 to -0.1575
Tennessee Zone 0 North -- -0.1450 to -0.1450
Texas Eastern E. TX -- --
Transco Zone 2 -- --
West Texas/SE New Mexico
El Paso Permian -0.320 to 1.170 --
El Paso - Keystone Pool -0.320 to -0.265 --
El Paso - Plains Pool 1.120 to 1.170 --
El Paso - Waha Pool -0.310 to -0.250 --
Transwestern -0.300 to -0.250 --
Transwestern - Central -0.300 to -0.300 --
Transwestern - W. TX -0.300 to -0.250 --
Waha -0.380 to -0.250 --
Midwest
Alliance -- --
ANR ML7 -- --
Chicago Citygate 1.580 to 1.700 -0.1550 to -0.1350
Chicago - Nicor Gas -- --
Chicago - NIPSCO 1.580 to 1.700 -0.1550 to -0.1350
Chicago - North Shore -- --
Chicago - Peoples -- --
Consumers Energy -- -0.1700 to -0.1400
Dawn 1.560 to 1.705 -0.1550 to -0.1300
Defiance -- --
Rover-ANR -- --
Rover-Panhandle -- --
Emerson -- -0.1750 to -0.1500
Joliet -- --
Lebanon -- --
Michigan Consolidated 1.560 to 1.685 -0.1700 to -0.1500
NGPL Amarillo Mainline -- --
Parkway/Union -- -0.0650 to -0.0650
REX Zone 3 Delivered 1.550 to 1.555 -0.1950 to -0.1650
REX into ANR - Shelby -- -0.1950 to -0.1700
REX into MGT - Edgar -- --
REX into NGPL - Moultrie 1.550 to 1.555 -0.1800 to -0.1650
REX into PEPL - Putnam -- -0.1700 to -0.1700
REX into Trunk - Douglas -- --
Midcontinent
ANR SW -- -0.2900 to -0.2900
Enable East -- -0.2550 to -0.2500
NGPL Midcontinent 1.320 to 1.400 -0.4500 to -0.4500
Northern Border Ventura -- --
Northern Natural Demarc 1.650 to 1.670 -0.1900 to -0.1900
Northern Natural Ventura 1.560 to 1.685 -0.1850 to -0.1700
OGT 1.325 to 1.415 -0.4500 to -0.4400
Panhandle Eastern 1.345 to 1.445 -0.4275 to -0.3950
Southern Star 1.500 to 1.500 -0.3500 to -0.3500
North Louisiana/Arkansas
Perryville -- --
Texas Eastern, M1, 24 -- --
Texas Gas Zone 1 -- -0.1650 to -0.1450
Trunkline Zone 1A -- -0.1600 to -0.1500
South Louisiana
ANR SE -- -0.0675 to -0.0625
Columbia Gulf Mainline -- -0.1775 to -0.1500
Columbia Gulf onshore -- -0.0850 to -0.0800
Florida Gas Zone 2 -- --
Henry Hub -- 0.0000 to 0.0000
Southern Natural -- -0.0650 to -0.0625
Tennessee Line 500 -- -0.0750 to -0.0650
Tennessee Line 800 -- -0.1150 to -0.1075
Texas Eastern E. LA -- -0.0950 to -0.0900
Texas Eastern W. LA -- -0.0800 to -0.0775
Texas Gas Zone SL -- --
Transco Zone 3 -- -0.0600 to -0.0400
Trunkline E. LA -- --
Trunkline W. LA -- --
Southeast
FGT Citygate -- --
Florida Gas Zone 3 -- 0.0200 to 0.0375
Texas Eastern M-1, 30 -- --
Transco Zone 4 -- -0.0475 to -0.0200
Transco Zone 5 -- 0.0575 to 0.0900
Transco Zone 5 North -- --
Transco Zone 5 South -- 0.0575 to 0.0900
Appalachia
Columbia Gas -- -0.2750 to -0.2600
Dominion North -- -0.3450 to -0.3400
Dominion South -- -0.3650 to -0.3400
Leidy Hub -- --
Millennium East Pool -- -0.3400 to -0.3200
Tenn Zone 4 200L -- -0.2100 to -0.1900
Tennessee Zn 4 313 Pool -- -0.3350 to -0.3250
Tennessee Zn 4 Marcellus -- -0.4000 to -0.3500
Texas Eastern M-2, 30 Delivery -- --
Texas Eastern M-2, 30 Receipt -- -0.3750 to -0.3525
Texas Eastern M-3, Delivery -- -0.2300 to -0.1950
Texas Eastern M-3, Receipt -- --
Transco-Leidy Line -- -0.3700 to -0.3500
Northeast
Algonquin Citygate -- 0.2500 to 0.2900
Algonquin Citygate (non-G) -- 0.2500 to 0.2900
Algonquin Receipts -- --
Iroquois Zone 2 -- 0.1750 to 0.2500
Iroquois, Waddington -- 0.0500 to 0.0800
Niagara -- -0.1500 to 0.0000
Tenn Zone 5 200L -- --
Tenn Zone 5 200L East -- --
Tenn Zone 5 200L West -- --
Tenn Zone 5 300L -- --
Tenn Zone 6 200L -- --
Tenn Zone 6 200L North -- --
Tenn Zone 6 200L South -- --
Tenn Zone 6 300L -- --
Transco Zone 6 non-NY -- -0.1800 to -0.1200
Transco Zone 6 non-NY North -- -0.1800 to -0.1200
Transco Zone 6 non-NY South -- --
Transco Zone 6 NY -- -0.1575 to -0.1000
Rocky Mountains
Cheyenne Hub 1.420 to 1.455 --
CIG -- --
CIG DJ Basin 1.320 to 1.330 --
El Paso Bondad 1.430 to 1.430 --
El Paso San Juan 1.410 to 1.450 --
Kern River 1.570 to 1.575 --
Kingsgate -- --
Northwest Rockies 1.440 to 1.470 --
Northwest S. of Green River 1.440 to 1.470 --
Northwest Sumas 1.490 to 1.600 --
Northwest Wyoming Pool -- --
Opal 1.550 to 1.585 --
Questar -- --
Stanfield -- --
Transwestern San Juan 1.380 to 1.385 --
White River Hub -- --
Arizona/Nevada
El Paso S. Mainline/N. Baja -- --
Kern Delivery -- --
California
Malin 1.520 to 1.630 --
PG&E Citygate 2.620 to 2.700 --
SoCal Citygate 2.100 to 2.200 --
Southern Border, PG&E 1.500 to 1.500 --
Southern Border, SoCal 1.500 to 1.685 --
SoCal Border Avg. 1.500 to 1.685 --
SoCal Border - Blythe -- --
SoCal Border - Ehrenberg 1.680 to 1.685 --
SoCal Border - Kern River Station -- --
SoCal Border - Kramer -- --
SoCal Border - Needles 1.500 to 1.500 --
SoCal Border - Topock -- --
SoCal Border - Wheeler Ridge -- --
Canada
Alliance (APC) - ATP -- --
Empress 1.705 to 1.780 --
NOVA/AECO C 1.635 to 1.695 --
Westcoast Station 2 1.570 to 1.600 --
NOTE: Both the buy and the sell side of transactions are counted in this table, as they are in NGI’s daily, weekly and bidweek natural gas price tables, a standard practice which supports consistency and uniformity across products as explained in our price methodology.