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El Paso Natural Gas (EPNG) is an American company and a 10,140-mile pipeline system consisting of a system of natural gas pipelines that brings gas from the Permian Basin in Texas and the San Juan Basin in New Mexico and Colorado to West Texas, New Mexico, Nevada, California, and Arizona. It also exports some natural gas to Mexico. [1]
But a weak economy and a newfound emphasis on energy conservation slowed market growth. Supply outstripped demand in 1982 and natural gas prices dropped. Furthermore, El Paso's chemical businesses suffered major setbacks in 1982. Although El Paso's sales rose to $4.3 billion in 1982, its net income dropped to $53 million.
By 1940, the value of petroleum and natural gas produced in Texas exceeded the value of all agricultural products in the state. [55] The state's GDP grew from approximately $119 million ($4.36 billion in today's terms) in 1900 to approximately $29 billion ($315 billion in today's terms), a more than 240-fold increase.
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
The pipeline runs El Paso Natural Gas, which is commonly known as EPNG. It moves the gas product to the areas of Arizona, Nevada, New Mexico, Oklahoma, Texas, and northern Mexico. The Mojave Pipeline itself is estimated to be around 500 miles long. [ 2 ]
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Piped natural gas prices have been rising steadily throughout the U.S. since 2020 but California has experienced exceptionally higher prices because of bad weather, a pipe explosion on the El Paso Natural Gas pipeline, unscheduled maintenance, and the Aliso Canyon gas leak at the storage facility in the past, so it stores less now. [22]