Articles tagged Gulf South

Natural gas futures faltered a second day after a major producer expressed concern about elevated supplies, adding to market worries about hefty storage levels and overshadowing forecasts for strong cooling demand in the weeks ahead.

Feed gas nominations to the Freeport LNG Development LP facility were revised down Wednesday and Gulf South Pipeline Co. LLC issued a failure to take notice, indicating the facility may have experienced another operational issue, according to Wood Mackenzie pipeline data.

Feed gas flows to Freeport LNG continued to tick up as a fully loaded vessel left the Texas export facility for the first time in a week, indicating Train 3 operations could be stabilizing.

Uncertainty around demand at the Freeport LNG terminal had natural gas traders on a bumpy ride through midday Tuesday. Modest gains earlier in the session gave way to a steep sell-off shortly before lunchtime on the East Coast.

Freeport LNG has reported an outage of one of the three trains at its Texas export terminal, cutting into potential U.S. feed gas demand for at least the next month.

Global prices remained steady for the weekend as international buyers continue to monitor the winter outlook, but another potential disruption at Freeport LNG could help stoke anxiety.

Flows of feed gas to Freeport LNG dropped over the weekend to the lowest point since the facility restarted production earlier this year, according to pipeline data.

FERC has issued a favorable environmental assessment (EA) that would allow Gulf South Pipeline to build the Southeast Market Expansion Project to increase gas deliveries primarily to the Southeast.