Maintenance weighs on West markets; spreads in Midcontinent markets flatten

摘要

The faltering September NYMEX gas futures contract and near-term heat in downstream markets did little to stem the overall bearishness in Western and Midcontinent markets. Various maintenance projects in the Rockies, such as smart pig runs along the Rockies Express Pipeline and a force majeure at its Echo Springs booster station at the upstream portion of REX, trapped gas in the region. Meanwhile, an uptick in Mexican imports as well as market chatter regarding a possible incoming LNG cargo to the Costa Azul terminal weakened the prompt-month package at Southern California Gas, sources said.