Basis in almost all historically premium markets is falling, including Chicago, the West, and especially Pennsylvania points like Dominion. The exception is New England, with limited pipeline capacity and declining LNG imports. Last winter, New England pipelines were fully utilized on a 35-degree day, versus 20 degrees in previous years, sending basis to historic highs despite normal weather. And recently, the January Algonquin contract shot up from $8/mmbtu to more than $12/mmbtu. Last...
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Insight | Nov 2013
Northeast basis: Daily demand patterns point to sustained New England premiums over New York
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