BUZZ-Natgas companies fall on big storage build, lower flows to LNG export plants

Reuters
05/23
BUZZ-Natgas companies fall on big storage build, lower flows to LNG export plants

** Shares of U.S. natural gas companies down, tracking fall in natgas futures NGA/

** U.S. natgas futures NGc1 down 2.9% at $3.27 per million British thermal units

** Natural gas prices slid over 2% on a bigger-than-expected storage build, a smaller-than-expected decline in output in recent days and a decline in gas flows to liquefied natural gas $(LNG)$ export plants this month

** U.S. Energy Information Administration $(EIA)$ said energy firms added 120 billion cubic feet (bcf) of gas into storage during the week ended May 16 vs est of 115 bcf

** Shares of natgas companies CNX Resources CNX.N and Cheniere Energy LNG.N down 2.2% and ~1%, respectively

** ETFs — United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P fall 2% and 3.8%, respectively

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

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