Config.
Marché
Rapport
Unité

COT Sonat gas (Southern Natural, Louisiana)

Période
Échelle

As-of mardi · close vendredi · source CFTC

Long vs Short

Long et short en % d’OI (catégorie focus)

Δ 4 semaines

Variation du net vs le rapport d’il y a 4 semaines

Cette semaine

Catégorie Long Short Spreading Net Δ Long Δ Short Δ Net % OI long % OI short

Historique

Regional gas · ICE

What is Sonat gas?

Southern Natural gas

Satellite of Henry Hub Natural Gas (NYMEX NG)

A long means…

Exposure to a rise in Southern Natural gas (Sonat, Louisiana) — near Erath, not Henry Hub.

What is this?

Sonat is Southern Natural Zone 0 gas — Kinder Morgan’s Louisiana production pool, not the Sabine node at Erath. The ICE index tracks the Inside FERC “Southern Natural, La.” location price. The pipe serves Alabama, Georgia and South Carolina, through Atlanta and Birmingham, and connects to Elba Island. It sits near Erath but is not the same hub: the location spread is usually tight.

Gulf producers and Southeast power generators hedge Southern Natural gas here, not the national deliverable contract.

Pitfalls

  • Sonat ≠ NYMEX NG.
  • Southeast, not SoCal.
  • May be index or basis depending on the exact listing.

Univers LIX

Le positionnement n’est pas le risque

Le COT décrit qui est positionné. Le LIX décrit le niveau de risque de marché — 12 indicateurs, hors COT.