Oct 11 (Reuters) - ICE Futures U.S. Inc said on Thursday that all open positions in the Oct. 11 Northwest Pipeline (NWP) Sumas Swing Future will be liquidated at their original trade price due to a lack of prices at that point after a pipe fire on Tuesday in British Columbia.
Sumas is a point on Williams Cos Inc's WMB.N Northwest Pipeline at the border between the Canadian province of British Columbia and Washington state. fire occurred near the city of Prince George in British Columbia's northeast on a pipe owned by Canadian energy company Enbridge Inc ENB.TO that transports gas to customers in British Columbia and the U.S. Pacific Northwest. reduction of gas supplies after the pipe rupture caused gas utilities in British Columbia and Washington State to urge customers to conserve energy and resulted in the shutdown of three oil refineries in Washington state. prices at the Sumas hub NG-PX-HUN-SNL rose to $3.32 per million British thermal units (mmBtu) for Thursday, their highest since early January, according to data from SNL.
That compares with an average of $2.12/mmBtu since the start of the year, $2.60 in calendar 2017 and a five-year (2013-2017) average of $3.03.
ICE Futures, which is owned by Intercontinental Exchange Inc ICE.N , also said its board determined the exchange may liquidate open positions, at their original trade prices, in each subsequent expiration of the NWP Sumas Swing Futures contract that Platts does not publish a price for next-day gas flows for Sumas hub.
Platts is a unit of S&P Global Inc SPGI.N , which provides price data for the ICE contract.
In addition, ICE Futures said all trading in NWP Sumas Swing Futures contracts for all other October 2018 dates and NWP Sumas Index Futures for the October 2018 monthly contract shall be for liquidation only, until Platts resumes publishing a price for next-day gas flows for the Sumas hub.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ UPDATE 1-Enbridge gas line rupture prompts evacuations in British Columbia, no injuries
UPDATE 3-Canada's Enbridge to resume operations in 30-inch gas line in British Columbia
UPDATE 1-Enbridge natgas pipeline fire hits operations at 3 Washington refineries