CNBC:
The Arctic storm that is descending on the U.S. could cause a significant disruption of U.S. natural gas supplies at a time when heating demand is expected to rise, according to Goldman Sachs.
“We expect this going to disrupt supply as well, because it freezes the wells, it freezes we think more than 10% of US natural gas production,” Goldman Sachs’ Samantha Dart told CNBC in an interview.
Bitterly cold temperatures are forecast for the Plains, Great Lakes, Mid-Atlantic and Northeast, according to the National Weather Service Weather Prediction Center.
Snowfall exceeding 12 inches is forecast across the Ohio Valley, Mid-Atlantic and Northeast. Freezing rain and sleet is expected across the Southern Plains, Lower Mississippi Valley, Tennessee Valley and Southeast.
“The storm will cause significant to locally catastrophic ice accumulations with the potential for long-duration power outages, extensive tree damage, and extremely dangerous or impassable travel conditions,” the federal agency said.
— Spencer Kimball
EQT
Coterra
Range Resources
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