LNG

Jan 29 (LNG) - US natural gas prices jumped in the northeast states because of snow storms, though the rises were only about a quarter of those seen in last year's freezing weather. The Algonquin Citygates day ahead price was $10.00 per million British thermal units while the next highest was the Iroquois-Z2 price at $6.25. The Algonquin Citygate price hit $36 per MMBtu during the January 2014 freeze. A surge in New England natural gas prices is usually caused by a combination of cold winter weather and insufficient pipeline capacity to meet peak heating demand.