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NATGAS: Weak Waha Hub Prices as Matterhorn Pipeline Still Below Capacity

NATGAS
USCommoditiesEnergy BulletsBulletGlobalRegionNorth America

Natural gas deliveries via the new Matterhorn Express Pipeline have been around half capacity so far and have failed to ease the supply glut in the region, according to BNEF.

  • The pipeline from the Permian Basin to Katy, near Houston has a design capacity of up to 2.5bcf/d but has averaged just 1.26bcf/d between start-up on Oct. 1 and Nov. 8, according to pipeline receipts.
  • Flows increased to 1.4bcf/d in the week to Nov. 8 but are still well below full capacity.
  • An average of about 0.68bcf/d has been transported to NGPL at Bernard Creek over the past five weeks.
  • West Texas Waha Hub prices are still struggling to exit negative territory. Waha prices have traded in negative territory on five of the first six trading days this month, Reuters said. The price is partly due to pipeline constraints caused by maintenance on the 2.7bcf/d Permian Highway gas pipe in Texas, which was expected to end on Nov. 14 
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Natural gas deliveries via the new Matterhorn Express Pipeline have been around half capacity so far and have failed to ease the supply glut in the region, according to BNEF.

  • The pipeline from the Permian Basin to Katy, near Houston has a design capacity of up to 2.5bcf/d but has averaged just 1.26bcf/d between start-up on Oct. 1 and Nov. 8, according to pipeline receipts.
  • Flows increased to 1.4bcf/d in the week to Nov. 8 but are still well below full capacity.
  • An average of about 0.68bcf/d has been transported to NGPL at Bernard Creek over the past five weeks.
  • West Texas Waha Hub prices are still struggling to exit negative territory. Waha prices have traded in negative territory on five of the first six trading days this month, Reuters said. The price is partly due to pipeline constraints caused by maintenance on the 2.7bcf/d Permian Highway gas pipe in Texas, which was expected to end on Nov. 14