Gas

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process.

After finishing flat a day earlier, Natural gas futures mustered new momentum on Friday, ending the week in positive territory as mid-range forecasts for more heat outshined persistently weak demand for liquefied natural gas (LNG) amid fallout from the coronavirus pandemic.

Rains and relatively mild temperatures across much of the eastern half of the Lower 48, along with festering fallout from the coronavirus pandemic, curbed weekly spot gas prices for the June 15-19 period.

After pleading guilty to 84 counts of involuntary manslaughter and another count of starting a deadly fire in Paradise, CA in 2018, the sentencing of Pacific Gas and Electric Co. (PG&E) on Thursday was anticlimactic, with the court only imposing a fine of about $3.4 million. A restitution hearing is scheduled for early next year.

Mirage Energy Corp. has signed a $4 billion debt facility with the family office of Bluebell International to develop a natural gas project that would add cross-border capacity into Mexico and connect to the planned Permian Basin-to-Gulf Coast Whistler pipeline.

Natural gas futures traded in a narrow range of gains and losses Thursday and ultimately finished flat after traders absorbed a relatively bullish storage report that offset weather and demand uncertainty. The July Nymex contract settled at $1.638/MMBtu. August rose one-tenth of cent to $1.728.

Following a growing trend, the city council in San Luis Obispo along California’s central coast on Tuesday established a policy calling for all-electric new buildings that would take effect Sept. 1.

EQM Midstream Partners LP is now a subsidiary of Equitrans Midstream Corp. after the two companies completed a merger on Wednesday that was set into motion two years ago.

Boston-based Greentown Labs, a “climate tech” start-up incubator, plans to open its second location next spring in the U.S. oil and gas capital of Houston, as city leaders move to transition from fossil fuels.