North America gas weekly update: Storage surplus shrinking
Steamy, hot conditions across the country may not only be resulting in record daily gas generation but contributing to mechanical incidents as well. Soon after a TCO pipeline explosion impacting feedgas deliveries into Cove Point LNG, Permian Highway Pipeline (PHP) noted an operational incident that made it necessary to go temporarily out of service. Repairs to both have been completed and normal flows have returned. The weekly commodity report seeks to explore: • Could US gas supply levels be actually lower? • Will power demand start to fall off? • Will another salt withdrawal help normalize its storage levels?