Record LNG Feedgas Lifts Natural Gas Futures
Natural gas futures advanced early Monday as record LNG feedgas demand offset the bearish return of Appalachian supply.
Natural gas futures advanced early Monday, driven higher by record liquefied natural gas (<abbrev>LNG</abbrev>) feedgas demand, according to NGI_Natural_Gas. The surging demand for feedgas more than offset the bearish return of Appalachian supply following the conclusion of a Columbia Gas Transmission (<abbrev>TCO</abbrev>) pipeline force majeure.
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The upward movement in natural gas futures highlights the growing influence of export facilities on domestic price action. Record <abbrev>LNG</abbrev> feedgas requirements provided enough bullish momentum to outweigh the downward pressure introduced by the resumption of previously constrained regional pipeline volumes.
Key facts
- Natural gas futures advanced early Monday.
- Record <abbrev>LNG</abbrev> feedgas demand drove the market higher.
- The gains offset the return of Appalachian supply after a Columbia Gas Transmission (<abbrev>TCO</abbrev>) pipeline force majeure ended.
Source: naturalgasintel.com
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