The December gas futures contract is currently trading at $3.63, $0.02 lower than it settled yesterday. The 12 month strip is trading at $3.80/MMBtu and this year's winter strip (Dec 11 - Mar 12) is trading at $3.70/MMBtu.

US Could Become Second-Largest Exporter

According to a new report from BNP Paribas, the United States could become the second largest exporter of liquefied natural gas if all LNG projects move forward within the decade.

This could mean that by 2020, nearly 20% of all natural gas produced in the US (8-10 Bcf/d) will be shipped abroad.

State Pipeline Rules Tighter than Federal Regulations

According to a new survey compiled by the National Association of Pipeline Safety Representatives, most states are currently doing more than is federally required to ensure pipeline safety.

According to the President of the National Association of Regulatory Utility Commissioners, Tony Clark, "State pipeline inspectors are working hard to ensure the safety of our nation's pipeline infrastructure."

Storage

Working gas in storage was 3,831 Bcf as of Friday, November 4, 2011, according to EIA estimates. This indicates a net increase of 37 Bcf from the previous week.

Stocks were 6 Bcf less than last year at this time and 215 Bcf above the 5 year average.

Weather

The cold weather is approaching quickly. The season's second snowfall is expected tomorrow, turning from rain to snow as night falls.