LNG

The US front-month New York Mercantile Exchange natural gas price soared to seasonal record heights before expiration as the nation saw the cancellation of one of the key infrastructure projects, the PennEast Pipeline, linked to future demand in the US Northeast for natural gas from the Marcellus Shale Basin.

The US Federal Energy Regulatory Commission has approved the PennEast pipeline and issued its permits, saying there was a clear need for the infrastructure and that it could be operated safely and with minimal impact on the environment.