EIA: Natural gas weekly update

The highlights for the US Energy Information Administration (EIA)’s weekly natural gas update for the week ending 2 August 2015 include:

• The Henry Hub spot price began the week at US$2.72 per million Btu last Wednesday and ended the week at US$2.72/million Btu.
• Working natural gas in storage increased to 3193 billion ft³ and a net injection into storage increased storage levels by 18% compared to 2014.
• The total oil and natural gas rug count decreased by eight to 877 units in service compared to the previous week: the natural gas rig count decreased by nine units to 202, however, the oil ring count increased to 675 units (up one from the previous week).
• Gas prices at the Algonquin Citygate, serving Boston, started the report week at $3.06/million Btu, peaked at US$3.75, and ended the week up at US$3.14/million Btu 1 September.
• Dry natural gas production was similar to the past report week, averaging 72.3 billion ft³/d, which is 3.7% higher than 2014 at this time, according to Bentek Energy data. Imports of natural gas from Canada fell by 1%, while LNG sendout increased by 5%, averaging 0.3 billion ft³/d.

REX Zone 3 receives FERC authorisation

The planned pipeline projects are to increase Marcellus and Utica takeaway capacity. The Rockies Express Pipeline (REX) Zone 3 received FERC authorisation to enter full east-to-west operation. The project has so far increased westward capacity to 1.8 billion ft³/d. The next planned phase of the project is to be completed by 4Q16, and will increase the capacity to 2.6 billion ft³/d.

Edited from press release by Angharad Lock

Read the article online at: https://www.worldpipelines.com/business-news/07092015/eia-natural-gas-weekly-update-1351/