1. PG&E, Malin was trading 16 cents higher on Sept. 23 at $5.20/ MMbtu for next-day flows of gas, while cash price for SoCal Gas, city-gate fell 18 cents to $6.21 for Sept. 24 flows. 2. PG&E futures are expecting a more bullish winter for 2021, as weaker storage and supply from neighboring regions is expected to tighten the PG&E market, according to S&P Global Platts analytics. 3. Total summer 2021 demand for PG&E has averaged an estimated 187 MMcf/d higher compared to 2020 levels, weakening injections to just 70 Bcf below 2020 levels to 125 Bcf. If El Paso’s maintenance at Ehrenburg continues to limit Permian gas supply into So-cal, PG&E will likely bear much of the pipeline loss. This is primarily because SoCal can source gas at other interconnects.
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