Negative Prices, Rising Flaring Signal Pipeline Gridlock in Permian ...Middle East

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Negative Prices, Rising Flaring Signal Pipeline Gridlock in Permian
source : OILPRICE ( Middle East ) () 54
Previously, we reported that natural gas at the Waha hub was selling for near-zero or sub-zero prices for much of 2024 thanks in large part to excess natural gas production in the Permian Basin coupled with limited takeaway capacity due to a shortage of gas pipelines. Indeed, prices at the hub spent half the year in negative territory, sinking to all-time low -$7/mmbtu at the end of August. This has become a recurrent challenge in recent years ever since the Permian Shale boom led to a surge in associated gas production. Consequently, Permian gas…

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