Warren Buffett’s Cove Point LNG Closing for 3 Wks of Maintenance
It’s that time of year again–for annual maintenance at the Cove Point LNG export plant, located on the shoreline of Maryland. The plant, built by Dominion Energy, is now controlled and operated by Berkshire Hathaway following Warren Buffett’s purchase of Dominion’s extensive pipeline network last year (see Warren Buffett’s Berkshire Hathaway Now Runs Cove Point LNG!). Cove Point will shut down for about three weeks of maintenance starting September 20th.
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Exactly one month ago MDN brought you the news that the Federal Energy Regulatory Commission (FERC) has provisionally approved a request by Equitrans’ Mountain Valley Pipeline (MVP) to change the method it uses to cross 136 streams and 47 wetlands (see 
Earlier this week MDN told you that a major national proxy advisor, Glass Lewis, is recommending shareholders from both Cimarex Energy (Permian oil driller) and Cabot Oil & Gas (Marcellus gas driller) approve a proposed merger on September 29 when they vote (see 
MDN editor Jim Willis has had several conversations this past week about the price of natural gas and how prices in the Marcellus/Utica are influenced by national and international events. “Is it possible,” one questioner asked, “to say that if the NYMEX price is X, then my local trading hub in the M-U will likely be X plus or minus Y?” Unfortunately, the answer is no. There is no one “price” of natural gas. The Henry Hub futures price (the NYMEX) is often quoted as “the” price, but in reality, there are hundreds/thousands of prices. Natgas is a commodity and traded at hundreds of points along major pipelines throughout the country. This post attempts to explain more about the complex landscape of what influences the price of natural gas where you are.
Lately we’ve seen multiple news articles about yet another city, or even state, that has launched a lawsuit against one or more Big Oil companies claiming their products are causing man-made global warming (an abject lie), and that those companies have known about this situation for years without doing anything about it, causing the earth to toast. Such lawsuits are not, frankly, about stopping global warming. They are about a government shakedown–politicians dipping their hands into the pockets of companies with money and stealing it. An excellent article appearing on the RealClearEnergy website describes what has been happening with these lawsuits, and why these lawsuits cannot be allowed to go forward.
NATIONAL: October natural gas futures backtrack following higher storage injection, cooler forecasts; Natural gas has only done this twice in the last decade, and it could mean more pain ahead; The key to U.S. domination of global natural gas markets; US natural gas storage fields add more than market expects, prompting price slide; INTERNATIONAL: Europe’s energy crisis is driving up natural gas prices worldwide; New report claims governments don’t take the climate emergency seriously; High natural gas prices lead to a shutdown of British fertilizer plants.