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Includes deliveries anywhere into the Cove Point Pipeline, which connects pipelines in northern Virginia to the Cove Point LNG facility in Lusby, MD. The three main connecting pipelines are Columbia Gas Transmission and Eastern Gas Transmission and Storage Inc. (EGTS) in Loudoun County, VA, and Transcontinental Gas Pipe Line Co. (Transco) at Pleasant Valley in Fairfax County, VA. NOTE (1): NGI changed the name of this index to Cove Point from Dominion Energy Cove Point in June 2021 following the sale of Dominion Energy’s majority stake in this asset. However, the methodology for calculating this price location as described above remains the same. NOTE (2): Prior to June 2018, NGI’s Cove Point index incorporated deliveries from the Cove Point system into Transco at Pleasant Valley, which was more reflective of flows when Cove Point LNG was an import-only location.
Natural gas prices at key hubs near the Gulf Coast traded mostly sideways during the first day of bidweek trading on Tuesday. Production moved lower and storage surpluses narrowed, but forecasts pointed to a powerful hurricane impacting the region this week.
October Nymex natural gas futures fluctuated between gains and losses Tuesday before turning lower as profit taking, hurricane risks and middling demand choked off some of the rocket fuel powering the previous three days’ nearly 33.0-cent run higher.
October Nymex natural gas futures floated from gains to losses during Tuesday afternoon trading. The market was caught between prospects of significant demand destruction and production shut-ins as Tropical Storm Helene formed over the Caribbean. Cash prices were mixed by varied demand.
Nearly a dozen market participants announced a series of deals at Gastech 2024 in Houston last week, landing more than 5 million metric tons/year (mmty) of global LNG export and import capacity as supplies are forecast to grow through the end of the decade.
The October natural gas futures contract flew higher on Monday, building on the prior week’s rally and remaining comfortably above a key technical threshold. It settled at $2.613/MMBtu, up 17.9 cents day/day. This followed back-to-back gains to close out last week.
