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The natural gas storage report from the EIA for the week ending March 5th indicated that the amount of natural gas held in underground storage in the US fell by 52 billion cubic feet to 1,793 billion cubic feet by the end of the week, which left our gas supplies 257 billion cubic feet, or 12.5% below the 2,050 billion cubic feet that were in storage on March 5th of last year, and 141 billion cubic feet, or 7.3% below the five-year average of 1,934 billion cubic feet of natural gas that have been in storage as of the 5th of March in recent years..the 52 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast of a 65 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, and was also less than 72 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, and less than the average withdrawal of 89 billion cubic feet of natural gas that have been pulled out of nat
By Reuters Staff
2 Min Read
(Reuters) - PennEast Pipeline Co said on Thursday it still expects to put the first phase of its $1.2 billion natural gas pipeline project in Pennsylvania in service in 2022 and complete the second phase from Pennsylvania to New Jersey in 2024.
PennEast is involved in a case before the U.S. Supreme Court with New Jersey over whether the company can seize state-owned or controlled land under federal eminent domain rules.
Earlier this week, the Biden administration filed a brief with the Supreme Court that agreed with a filing by the Trump administration urging the court to overturn a 2019 ruling by the U.S. Court of Appeals for the Third Circuit. That ruling blocked PennEast from using federal eminent domain to seize state land.