Texas Bans Natural Gas Companies From Taking Fuel Out of State: Gov. Abbott

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  • Bloomberg Quicktake: Now published this video item, entitled “Texas Bans Natural Gas Companies From Taking Fuel Out of State: Gov. Abbott” – below is their description.

    Texas is banning natural gas companies from exporting the fuel to anywhere outside of the state as it tries to restore electricity supplies after an unprecedented energy crisis.

    Texas Governor Greg Abbott said during a media briefing Wednesday that he issued an order forbidding Texas gas producers from selling to power producers outside of its borders through Feb. 21.

    Dan Woodfin, senior director of system operations at Texas grid operator Ercot, said earlier in an interview that a lack of gas supply is one of the reasons why it’s having trouble getting power plants back online.

    Abbott said he and other state governors had expressed concern on a conference call with President Joe Biden about the severe spikes in natural gas prices amid the crisis. Spot prices in neighboring Oklahoma rocketed to over $1,000 per million British thermal units Wednesday, increasing more than 100-fold from a week earlier.

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