February 16, 2021 – Yahoo Finance
Natural Gas Price Fundamental Daily Forecast – Cold Spell May Break Up Last Week in Feb, but Return March 1-2
By James Hyerczyk
Natural gas futures surged on Tuesday as reports of power outages and production freeze-offs due to extremely cold weather conditions shocked the Gulf Coast. Natural Gas Intelligence (NGI) reported that several states in northern Mexico were impacted by the storm as natural gas shortages shut generators and left more than 4 million customers without electricity for hours on Monday.
NGI also reported that “a handful of midstream companies had already begun reporting issues at some of their gas plants on Thursday and by Friday, some pipelines were reporting operational issues. New England’s Algonquin Gas Transmission experienced an unplanned outage on the Mainline that prompted the pipeline to reduce the operating pressure by about 5% between Cromwell and Burrillville compressor stations until the issue is resolved.”
“The polar air had already reached Texas overnight, and wellhead freeze-offs were starting to surface in West Texas and southeastern New Mexico, where RBN Energy LLC said Permian Basin production fell 1.5 Bcf day/day on Friday.
Read the full article here: https://finance.yahoo.com/news/natural-gas-price-fundamental-daily-204947876.html
