A Substack providing independent, data-driven analysis of North American natural gas markets
| Platform |  | Pricing | Freemium | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 58 | Founded | a year ago | Last Issue | 11 days ago |
| Active | |||||
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measureddepth.comLatest Issues
Three eastern pipeline constraints, five price paradigms
Two cohorts of Southeast pipeline projects will reshape eastern gas prices — including in the Northeast
The eastern US is the nexus of growth in gas-fired generation, but combined-cycle capacity isn’t the only factor pacing this growth — g...
Record CC utilization is slowing the coal-to-gas transition
Eastern US CCs now run harder than coal did 20 years ago, leaving no room to retire more coal until new gas plants arrive
Last week, I showed that structural growth in gas-fired generation has stalled even as load growth accelerates, large...
Gas demand growth hasn’t picked up yet
Gas demand capex rose sharply in 2025-26, fueling excitement that higher prices would come soon after. But this year, for the first time in the capital discipline era, Henry Hub prices weakened without a major external shock. This decline h...
After Plaquemines and record heat, Southeast gas stays tight until spring
Storage is drained, coal can’t ramp further, and pipelines into the region are full — leaving basis exposed to spikes through winter
Since mid-August, Southeast gas prices have traded at ~$3.75-7.50/MMBtu, even as Henry Hub prices have hel...
Whose problems would Seneca solve?
As Appalachia returns to growth, Seneca’s inventory is most valuable to companies staring down early-2030s declines
On September 16, Reuters reported that National Fuel Gas is evaluating options for its upstream and midstream businesses, s...
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