Pour more water on the flame lit by the shale gas explosion in the United States, analysts said last week. There’s just too much gas in the world markets to handle, two separate energy teams wrote.
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2011 Gas Market Worse Than 2010?
Pour more water on the flame lit by the shale gas explosion in the United States, analysts with Deutsche Bank Securities Inc. said this week. There’s just too much gas for the world markets to handle, said the bank’s oil and gas team.
UNG’s Outstanding Units Surge, But Further Increases May Have to Wait
Total units outstanding in the United States Natural Gas fund (UNG) surged to a record 347.4 million units on Wednesday as investors continued to pour money into the fund, despite the recent downturn in U.S. natural gas prices. Total units outstanding in UNG have increased 34% since June 25, even though the fund’s current benchmark — the August New York Mercantile Exchange (Nymex) Henry Hub futures price — has fallen 16% over the same time period.
Bentek: Northeast Gas Supply to Grow; Consumer Price Relief Won’t Soon Follow
As waves of natural gas supply pour into eastern markets from the Rockies, the Midcontinent and the Appalachian Basin, gas utility consumers could one day enjoy lower prices. But don’t expect that day to arrive anytime soon.
New System Intensifies Powder River Activity
Activity continues to pour from the Powder River Basin, as CMSContinental Natural Gas, a CMS Energy subsidiary, named OkemahConstruction Inc. as the winning bidder to build the NorthernHeader Gas Gathering System. CMS Continental will be the operatorof the new header, which will help increase the accessibility ofthe basin’s coal bed methane gas to main market points. The costwas not disclosed. CMS said the gathering system will beoperational November 1.
FERC Probe of Power Price Spikes Under Fire
As industry replies to FERC’s data requests on the June pricespikes in the power market began to pour in yesterday, critics insome electricity circles said that the questions posed by theCommission were too little, too late to elicit any meaningfulinformation into the causes for the price run-up earlier thissummer in the Midwest.