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Mon November 12, 2007
Warm Weather Hurts Natural Gas Prices
Casper, Wy – Warm weather is chilling natural gas prices in Wyoming.
Wholesale natural gas prices in Wyoming fell again this week
after several weeks of moving toward the national average.
The Wyoming Pipeline Authority reported that gas brought just 26
cents per thousand cubic feet at the hub at Opal and $1.48 at the
Those figures mean that Wyoming gas sold on the daily price
index on Friday brought only 12 percent of the price at the Henry
Hub in Louisiana.
Wyoming Pipeline Authority Executive Director Brian Jeffries
says unseasonably warm weather and lack of pipeline capacity to
handle exports are to blame.
Completion of the second phase of the Rockies Express Pipeline
may prove to the biggest boost for the state. When completed, the
$4.4 billion pipeline will extend more than 1,600 miles and will
carry gas from central Wyoming to markets in the Midwest.
Jeffries says the pipeline will increase Wyoming's export
capacity by 25 percent. He said it should bring Rockies natural gas
prices in line those at the Henry Hub.