September 05, 2024 16:14 GMT
NATGAS: Matterhorn Pipeline Moving Some Gas: Reuters
NATGAS
The Matterhorn Pipeline in Texas was moving small amounts of gas from the Permian basin in West Texas towards the Gulf Coast, executives said, cited by Reuters.
- "The Matterhorn is online and moving little bits of gas," Permian Resources executives said cited by Reuters, noting the pipe should be "moving a real amount of gas in the next few months and we're hoping to at least see Waha turn positive."
- Gas prices at Waha have averaged below zero for a record 33 days in 2024 to date, including a record low of minus $4.80/MMBtu Aug. 29.
- Waha is under pressure due to a lack of pipeline capacity to move gas out of the Permian, a problem Matterhorn will help alleviate.
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