Hurricane Isaac shutters Gulf of Mexico gas production but has had a muted impact on NYMEX prices, so far. The storm’s path went through a majority of offshore rigs and platforms this week, before making landfall as a weak category 1 hurricane. As a result approximately 72% of regional natural gas output was shut in.
Flows through the Henry Hub gas complex were reduced this week, as most production companies pulled key personal from operation and midstream pipeline operators announced forced majeure closures. According to the Bureau of Safety and Environmental Enforcement, workers were evacuated from 50 rigs (65%…
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