ETRN - Natural gas +10% Monday +100% YTD as Marcellus production remains restricted

Natural gas prices (NG1:COM) hit another 13yr high Monday, rallying 10%, as rising demand and restricted production continue to pressure inventory levels.  Following Duke (DUKE) and Dominion's (D) cancelation of the Atlantic Coast pipeline in 2020, a pipeline planned to connect the world's most prolific natural gas basin to new end-markets, RS Energy Group anticipated pipeline capacity would restrain Marcellus gas production by 2022. And despite historically high prices, rig counts in the Marcellus have continued to languish: The Mountain Valley Pipeline is planned to increase Marcellus market access and is scheduled for completion this summer; however, Equitrans Midstream (ETRN) said in February that the project would likely miss its target in-service date, following a series of adverse court rulings. During EQTs (EQT) Q4 conference call, management said, "We had to pick a spot on where we thought MVP was going to come online... So we picked midyear 2023." Gas names

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Natural gas +10% Monday, +100% YTD, as Marcellus production remains restricted