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US weekly released gas capacity falls

12 Dec 2017, 7.33 pm GMT

US weekly released gas capacity falls

Houston, 12 December (Argus) — The volume of idle capacity released by firm shippers and subsequently bought by third parties on US interstate natural gas pipelines fell sharply last week as cold weather boosted demand.

Purchases by third parties of released capacity rights averaged about 144mn cf/d (4.1mn m³/d) on the top 10 interstate pipelines during the week ended 9 December, according to CapacityCenter.com.

The list ranks US interstate pipelines by annualized equivalent capacity (AEC) volumes released each week.

The volume last week fell from about 1.5 Bcf/d average released in the prior week and 174mn cf/d traded four weeks earlier.

Market participants often buy capacity in connection with their commodity trading in the month-ahead market, meaning that capacity release activity can take a monthly cyclical trend.

The total number of deals fell week over week to 171 from 1,663. The majority of deals — 153 — were spot deals. There were 16 medium-term deals, with a length of one month to one year and two deals for a term of more than one year.

Dominion Transmission ranked first with 74pc of the total capacity traded on the top 10 pipelines and Columbia Gas Transmission second with 9pc of the capacity. Tennessee Gas was third with 7pc. The remaining ranked pipelines in descending order by released volumes were: Transcontinental Gas, Portland Natural Gas Transmission, Southern Natural Gas, Southern California Gas, Algonquin Gas Transmission, Iroquois Gas Transmission and Southern Star Central Gas.

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