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Texas Facing Gas Bottleneck as Prices Turn Negative: Reuters

NATGAS

Natural gas prices at Waha have turned negative a record 22 times so far in 2024, as pipeline constrains trap gas in the Permian basin. This indicates that the region needs more gas pipelines.

  • The 2.5 bcf/d Matterhorn Express Pipeline is already under construction and is due to enter service later this year.
  • Although several companies have proposed constructing additional pipelines in the Permian, Reuters highlights two that are most advanced: Kinder Morgan’s 0.57 bcf/d Gulf Coast expansion and Energy Transfer’s 1.5 bcf/d Warrior.
  • However, neither have received a firm commitment to go ahead.
  • Without additional pipeline infrastructure, strong gas production will continue to reach a bottleneck, confining it to West Texas and putting pressure on Waha prices.
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