Natural Gas Full market recovery seen weeks away

1 Sep 2017   Prices

Gulf of Mexico offshore natural gas output rebounded Thursday, while exports to Mexico struggled to return to normal and some midstream operators continued to report disruptions almost a week after Harvey struck Houston and the heart of US energy infrastructure. Related video: Pipeline delays hinder Mexico’s gas imports, shift power generation Domestic gas demand recovered slightly, but remained down about 2.5 Bcf/d from the month-to-date average prior to the storm and is still down 4.1 Bcf/d from August 2016 levels. Analysts expect it to take weeks for the market to fully recover, with Harvey now battering East Texas and Louisiana after dumping upwards of 50 inches of rain on Houston over the past week. Meanwhile, Hurricane Irma is taking shape northeast of Venezuela, according to the US National Weather Service. PRODUCTION Offshore Gulf natural gas production remained on the upswing, rising to 3 Bcf/d from 2.7 Bcf/d Wednesday and […]

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