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European Union Discussing Revised Natural Gas Price Cap Proposal of €220/Mwh 12/7/2022

The European  Union is currently struggling to agree on a proposed natural gas price cap. A handful of countries oppose the cap over concerns it will make it harder to obtain supplies. On the other hand, other members see the cap as a way to protect consumers from price spikes. 

Currently, the bloc is discussing a €220/cap which would only be implemented on prompt month TTF prices. TTF prices would also have to be at least €35/Mwh higher than LNG prices in the region for the cap to be implemented. 

An additional meeting may occur on December 19th to hash everything out.

Energy Transfer Conducting Firm Capacity & Bid Solicitation for Gulf Run Pipeline from 12/5-12/9: 300,000 Dth Available 12/6/2022

Gulf Run Transmission posted a notice of available firm capacity and bid solicitation for their new pipeline, which is scheduled to begin operations on December 15, 2022, pending FERC clearance.   They cited that "at in-service, Gulf Run’s Zone 1 will have 29 receipt meters capable of aggregating supply in Carthage, Haynesville and Perryville.  Zone 2 will initially have approximately 1.65 Bcf/d of new takeaway capacity to the Louisiana Gulf Coast."

They are seeking bids for up to 300,000 Dth post-in service; Zone 1 receipt points are shown below.  Delivery into Zone 2 will be available at Trunkline @ Vinton Meter #292545.  The open season is for a minimum 1-year term starting on January 1, 2023 and extending up to October 31, 2026.

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