Natural Gas Supply for Winter Sparks Northeast U.S. Gas Concern

Posted October 8, 2014 at 5:00am

Bloomberg News reports that “natural gas for January in the Northeast is the most expensive in more than a decade on concern that pipelines may not be able to ship enough fuel, risking a repeat of last winter’s record prices.”  

“Supplies in the so-called consuming east region, which covers the Northeast to the Midwest, are at the lowest seasonal level since 2000, government data show. Additional pipelines into New England from the Marcellus shale fields in Pennsylvania won’t begin service until at least late 2016.”  

“Buying gas at current levels now may turn out to be a bargain. While the fuel in New York for January is selling at $13.60 per million British thermal units, more than nine times current prices, gas surged to a record $135 last January as frigid weather boosted demand beyond what pipelines could deliver.”