NYMEX NatGas Price Crashes – Down $0.37 in 2 Days, Now $2.51

Earlier this week the NYMEX natural gas futures contract for December rolled off and the January contract became the “front contract” being traded. The latest storage numbers–how much gas has *not* been withdrawn from storage–combined with weather forecasts and computerized trading to hammer prices. Natgas was down 10 cents on Wednesday, and down another 27 cents yesterday, for a combined 37 cent loss over the past two days. Yuck. But it’s not all bad news, at least here in the Marcellus/Utica.
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Kinder Morgan’s Elba Island LNG Partially Down for Maintenance

The first of 10 LNG (liquefied natural gas) mini-trains at Kinder Morgan’s Elba Island, Georgia export facility went online in December of last year (see Elba Island Finally Exported First Marcellus LNG Cargo on Friday). Since that time, the other nine trains have come online one at a time, with the last unit going into service in August (see Final Elba Island LNG Train Goes into Service – All 10 Now Online). As happens with these facilities, each year the owner/operator will take units offline for maintenance. Some of Elba’s 10 trains are offline for maintenance right now, but not all of them.
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4th Circuit Clown Judges Signal They’ll Overturn MVP Permit, Again

The clown judges of the U.S. Court of Appeals for the Fourth Circuit (one of whom quotes from children’s books in her opinions) have signaled they will overturn, again (for the second or third time) a permit issued by the U.S. Army Corps of Engineers that allows the 92% completed Mountain Valley Pipeline (MVP) from finishing its work by installing pipe under or through creeks and rivers. We have the Sierra Club to thank for the lawsuit, and colluding liberal Democrat judges to thank for continued obstruction of this legally-permitted project from finishing.
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O&G Industry Calls Out PA DEP for “Appalling” Conventional Regs

The Pennsylvania Dept. of Environmental Protection (DEP) is in major butt-covering mode with the state’s conventional (non-shale) oil and gas industry. During an industry-led advisory committee meeting held yesterday, members of PA’s conventional oil and gas industry delivered some rather blunt comments to DEP Deputy Secretary for Oil and Gas Management Scott Perry, accusing the DEP of “ramming the most punitive set of regulations on this industry to date.”
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M-U Companies Must “Walk the ESG Walk” to Get Investment Money

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On Wednesday, Hart Energy held its annual DUG (Developing Unconventional Gas) East event. This year the event was virtual instead of in-person at the convention center in Pittsburgh. One acronym seemed to be on the lips of nearly every speaker at this year’s event: ESG, which stands for “environment, social, governance.” Speakers said if Marcellus/Utica companies want to get new investment from the big money libs who now control the financial markets, they better “talk the talk and walk the walk” when it comes to ESG.
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NYC Mayor de Blasio Seeks to Block Brooklyn NatGas Pipe Project

Mob rule now prevails in New York City under Mayor Bill de Blasio. In February we told you about a mob of anti-fossil fuelers attempting to block the final few feet of construction for a 6.8-mile natural gas pipeline stretching from Brownsville to North Brooklyn (see Will a Brooklyn, NY Mob Stop Completion of National Grid Pipeline?). The pipeline still isn’t done ten months later, and now de Blasio is calling for the builder, National Grid, to abandon it.
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Other Stories of Interest: Fri, Dec 4, 2020

MARCELLUS/UTICA REGION: Summit Midstream regains compliance with NYSE minimum price continued listing standard; OTHER U.S. REGIONS: Massachusetts AG tells Bloomberg group of plan to use its attorneys to enforce Paris climate treaty; NATIONAL: ‘Methane’ sounds worse than ‘natural gas’; INTERNATIONAL: NUS team invents ‘fast and safe’ way to convert natural gas to solid form; OPEC, allies agree to increase output by 500,000 barrels a day in January; More than 140 trucks, buses switch to natural gas in Vancouver; Making shipping cleaner – is LNG the answer?
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