natural gas data

In response to the propane shortage plaguing the Midwest (see Daily GPI, Jan. 30; Jan. 22), Oneok NGL Pipeline LLC has filed at FERC to modify its tariff, allowing a flow reversal from south to north on its North Line 5. “By allowing the reversal movement, Oneok is enabling Oneok’s Medford, OK, facilities to increase the volume of propane barrels being shipped into the Conway, KS, market,” the company told the Federal Energy Regulatory Commission in a letter filed Friday. “The reversal of the direction of flow from south to north increases the available supply of propane from Medford, OK, to Midwest customers. Oneok acknowledges that this tariff publication is conditionally accepted subject to refund pending a 30-day review period.” Spokesman Brad Borror told NGI the change would relieve congestion at Medford, but he would not provide any details on the volume of propane that could be flowed or how long the reversal would remain in place.

The U.S. Department of Energy (DOE) recently granted Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC (SPL) authorization to export 314 Bcf of liquefied natural gas (LNG) per year from its existing Sabine Pass LNG terminal to countries with which the United States has a free trade agreement (FTA).

Two energy analysts on Monday revised their forecasts upward for U.S. natural gas prices, with Goldman Sachs now expecting storage levels to end at 1.198 Tcf by the end of March.

Continuing on the path established late last week, the March natural gas futures contract probed lower Monday, recording a low of $4.751 before closing the day’s regular session at $4.905, down 3.8 cents from Friday’s finish.

Lifted by record natural gas production from the shale-rich Lower 48 category, overall U.S. production also reached a historic high in November, according to the Energy Information Administration’s (EIA) Monthly Natural Gas Gross Production Report.

Prodded by January’s arctic blasts and promises of more cold to come, February bidweek prices soared, with the usual eastern suspects notching prices above $25 and $35 dollars, helping boost NGI’s National Spot Gas Bidweek average up $2.04 from January to $6.58. The Northeast region averaged $8.83, with the Midwest not far behind at $7.78.

American Energy Partners LP (AEP-LP) announced Monday that one of its affiliates has signed three separate agreements to purchase approximately 130,000 net acres in the southern Utica Shale, boosting its position there to 260,000 net acres.

Lifted by record natural gas production from the shale-rich Lower 48 category, overall U.S. production also reached a historic high in November, according to the Energy Information Administration’s (EIA) Monthly Natural Gas Gross Production Report.

President Obama on Thursday nominated Norman C. Bay, current director of FERC’s Office of Enforcement (OE), to the Commission and to be designated chairman upon appointment by the U.S. Senate.