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NATURAL GAS WEEKLY UPDATE (Week Ending 10-22-21)

NATURAL GAS WEEKLY UPDATE (Week Ending 10-22-21)

In the News (EIA):

Growth in natural gas demand in Asia and low storage stocks in Europe lead to record-high spot prices:

International spot natural gas and liquefied natural gas (LNG) prices in Europe and Asia have been setting record highs this year reaching $35 per million British thermal units (MMBtu) in Asia and nearly $40/MMBtu in Europe in the first week of October, according to pricing data by Bloomberg Finance, L.P. These prices are more than a twenty-fold increase from record lows during the summer 2020, when response measures to the COVID-19 pandemic significantly reduced global energy consumption. Historically, spot natural gas prices in Europe have traded below spot LNG prices in Asia. This year, however, European spot and forward prices have been closely tracking LNG prices in Asia to attract higher volumes of flexible LNG supplies to Europe to refill storage inventories. Several factors have contributed to significantly higher global spot natural gas and LNG prices this year, including: Growth in natural gas demand in Asia and Latin America. Seasonally low natural gas storage inventories in Europe. Reduced global LNG supply because of planned and unplanned outages at LNG export facilities in several countries. Significant growth in natural gas demand in Asia, led by China, contributed to increased demand for global spot LNG supplies in addition to volumes supplied under long-term contracts. In North Asia, a colder-than-normal winter and a hot summer led to higher natural gas demand and lower inventories. In addition, a shortage of coal supplies in China, higher LNG demand by the power and industrial sectors in Japan, and lower output by nuclear power plants in South Korea contributed to a significant increase in LNG imports. Last year, these countries—the world’s three largest LNG importers—accounted for 72% of total LNG imports in Asia and 52% of global LNG imports, according to the International Group of Liquefied Natural Gas Importers (GIIGNL). Year-on-year, from January through August 2021: LNG imports to China, Japan, and South Korea have increased by a combined 3.7 billion cubic feet per day (Bcf/d) (16%), accounting for 95% of the increase in Asia’s total LNG imports. China’s LNG imports increased by 2.0 Bcf/d (24%) and averaged 10.4 Bcf/d, making China the world’s largest LNG importer during this period, surpassing Japan. LNG imports grew in Japan by 0.6 Bcf/d (7%) and in South Korea by 1.1 Bcf/d (21%). Low natural gas storage inventories in Europe contributed to Europe’s natural gas spot price increasing to an all-time high in October 2021. As of October 18, 2021, natural gas inventories in Europe were 77% full, compared with 95% last year at this time and the 91% five-year (2016-2020) average, according to data from Gas Infrastructure Europe’s (GIE) Aggregated Gas Storage Inventory (AGSI+). LNG demand growth in Brazil in response to its worst drought in more than 90 years contributed to increased use of natural gas for electricity generation and required higher LNG imports to offset lower hydroelectric output. In the first nine months of this year, Brazil’s LNG imports averaged 0.8 Bcf/d, compared with 0.1 Bcf/d on average during the same period in 2020, according to Brazil Ministry of Economy’s foreign trade statistics (Comex Stat). Unplanned outages at LNG export plants in several countries also contributed to reduced supply of LNG to the global market, particularly in the summer months of this year. The outages included extended planned maintenance at several LNG export projects in Australia, Russia, and Papua New Guinea; unplanned outages related to technical issues at LNG production plants in Norway, Malaysia, and Peru; and lower feedstock natural gas supply available for LNG export plants in Nigeria, Angola, Egypt, and Trinidad and Tobago.

Overview:

Natural gas spot prices fell at most locations this report week (Wednesday, October 13 to Wednesday, October 20). The Henry Hub spot price fell from $5.45 per million British thermal units (MMBtu) last Wednesday to $4.79/MMBtu yesterday. International natural gas prices rose this report week. Bloomberg Finance, L.P. reports that swap prices for November liquefied natural gas (LNG) cargos in East Asia rose for the eighth week in a row to a weekly average of $33.92/MMBtu this report week, the highest weekly average on record since January (the first month for which comparable data are available) and 68 cents/MMBtu above last week’s average of $33.24/MMBtu. At the Title Transfer Facility (TTF) in the Netherlands, the most liquid natural gas spot market in Europe, day-ahead prices rose this report week to a weekly average of $30.43/MMBtu, up $1.03/MMBtu from last week’s average of $29.40/MMBtu. In the same week last year (week ending October 21, 2020), prices in East Asia and at TTF were $5.72/MMBtu and $5.08/MMBtu, respectively. The price of the November 2021 NYMEX contract decreased 42 cents, from $5.590/MMBtu last Wednesday to $5.170/MMBtu yesterday. The price of the 12-month strip averaging November 2021 through October 2022 futures contracts declined 19 cents to $4.530/MMBtu. The shape of the 12-month strip flattened this week compared to last week as a result of larger price declines in futures contracts for delivery during the current winter months and smaller price declines in futures contracts for delivery during the summer. The average futures strip for this winter’s remaining months (November 2021 through March 2022) declined by more than 31 cents, from an average of $5.675/MMBtu last Wednesday to $5.364/MMBtu yesterday. The futures strip for summer 2022 delivery months (April through September) remained relatively flat, declining 11 cents from $4.040/MMBtu last Wednesday to $3.930/MMBtu yesterday. The net injections to working gas totaled 92 billion cubic feet (Bcf) for the week ending October 15. Working natural gas stocks totaled 3,461 Bcf, which is 12% lower than the year-ago level and 4% lower than the five-year (2016–2020) average for this week. The natural gas plant liquids (NGPL) composite price at Mont Belvieu, Texas, rose by 20 cents/MMBtu, averaging $12.47/MMBtu for the week ending October 20. The ethane price fell 1%, which is less than the 5% decrease in the natural gas price at the Houston Ship Channel for the same period. The ethane premium over natural gas increased by 15%, or 19 cents/MMBtu, over the past week. Ethylene prices rose on average 4% this report week, expanding the margin between ethane and ethylene. Natural gasoline prices rose 2%, compared with the 1% increase in Brent crude oil prices. Prices of both butanes, normal butane and isobutane, rose 4% this report week as a result of rising demand for butane blending into winter-blend motor gasoline, which can accommodate higher shares of butane than low-Reid vapor pressure (RVP) summer-blend gasoline. Propane prices rose only 1%, less than the price rises of other heavy NGPLs, reflecting a relatively mild start to the winter heating season and reduced demand due to warmer-than-normal temperatures across much of the country. The propane premium to crude oil remained relatively flat this report week, rising by 1%. According to Baker Hughes, for the week ending Tuesday, October 12, the natural gas rig count decreased by 1 to 98 as a result of one-rig losses in the Utica play in Ohio, the Haynesville in Louisiana, and the Arkoma-Woodford in Oklahoma, offset by 1-rig gains in West Virginia and Mississippi. The number of oil-directed rigs rose by 12 to 445. The oil-rig count has increased for the sixth week in a row, and is now 51 rigs above the 394-rig total reported for the first week of September. The increase was broadly distributed across the country, with gains reported in Alaska (1), California (2), Louisiana (2), Texas (2), and Oklahoma (1). The total rig count increased by 10, and it now stands at 543, the highest level since mid-April of last year.

Prices/Supply/Demand:

Gulf Coast prices decline week over week as demand declines more than supply. This report week (Wednesday, October 13 to Wednesday, October 20), the Henry Hub spot price fell 66 cents from $5.45/MMBtu last Wednesday to $4.79/MMBtu yesterday. Prices reached a weekly high of $5.83/MMBtu on Friday before gradually tapering off to yesterday’s weekly low. IHS Markit estimates average weekly supply into Southern Louisiana, where the Henry Hub is located, fell by approximately 220 million cubic feet per day (MMcf/d) this report week as a result of lower receipts from the north and lower offshore production. After a two-day outage, Enbridge reports flows on the Mississippi Canyon Gas Pipeline (MCGP) from Shell’s offshore Olympus Platform returned to normal levels on October 15. MCGP carries more than 100 MMcf/d of liquids-rich natural gas from the Olympus platform for processing at Targa Resources’ 750 MMcf/d Venice natural gas processing plant near Venice, Louisiana. Flows on MCGP fell to zero on August 28 in advance of Hurricane Ida’s landfall. On October 2, natural gas flows from Shell’s Olympus platform resumed; however, Shell’s West Delta-143 (WD-143) platform, through which production from the Shell-operated Mars and Ursa platforms flows, remains offline due to damage sustained during Hurricane Ida. These shut-ins have resulted in continuing impairment of natural gas production at these facilities, which averaged approximately 220 MMcf/d before the shut-in. Demand in the region fell by more than supply as a result of lower power generation demand and lower outflows of natural gas to other regions. LNG feed gas to terminals in Southern Louisiana also declined this report week, despite the gradual start-up of Venture Global’s Calcasieu Pass LNG terminal. On October 18, Venture Global received approval from the Federal Energy Regulatory Commission (FERC) to begin introducing natural gas to its hot oil heaters and the warm flare at the export terminal, which is located on the coast of the Gulf of Mexico just south of Lake Charles, Louisiana. The TransCameron pipeline, which delivers natural gas to the terminal, reported increased flows to the terminal on October 20, which are currently averaging approximately 12 MMcf/d. Midwest prices decline this week amid mild temperatures. At the Chicago Citygate, the price decreased 35 cents from $5.18/MMBtu last Wednesday to $4.83/MMBtu yesterday as a result of a warming trend across the central Lower 48 states, which reduced heating demand across the region. Temperatures in Chicago this week averaged in the high 50s and low 60s, resulting in 0 cooling degree days (CDD—a measure of air conditioning demand) and lower-than-normal heating degree days (HDD—a measure of heating demand). The Chicago area had 44 HDDs this week, compared with 82 HDDs under a normal weather scenario for this time of year. Prices in California are mixed this report week, falling in the north and rising in the south. The price at PG&E Citygate in Northern California fell 10 cents, from $6.86/MMBtu last Wednesday to $6.76/MMBtu yesterday. The price at Sumas on the Canada-Washington border, one of the few pricing points in North America where prices rose last week, fell $1.47 from $6.55/MMBtu last Wednesday to $5.08/MMBtu yesterday, which resulted in lower prices at Malin, Oregon, the northern delivery point into PG&E service territory. The price at Malin, Oregon, fell 57 cents from $5.58/MMBtu last Wednesday to $5.01/MMBtu yesterday. Prices at the PG&E Citygate and at Malin reached weekly highs on Thursday, at $7.13/MMBtu and $5.66/MMBtu, respectively. The price at SoCal Citygate in Southern California increased 2 cents from $6.00/MMBtu last Wednesday to $6.02/MMBtu yesterday after reaching a weekly high of $6.92/MMBtu on Monday. The capacity to transport natural gas into Southern California remains impaired. Pipeline remediation on Line 1300 of the El Paso Natural Gas (EPNG) pipeline, which began on Tuesday, has reduced natural gas flows on the EPNG system by approximately 330 MMcf/d, reducing capacity to ship natural gas into the Desert Southwest and Southern California from the Permian production region in West Texas this week. The maintenance, which is scheduled to end on October 26, is in addition to the continuing outage on Line 2000, which has reduced flows into Southern California on the line to zero, compared with approximately 610 MMcf/d before the pipeline ruptured near Coolidge, Arizona, on August 15. Price increases in SoCal Gas territory were relatively muted because, under current weather conditions, demand for natural gas in the region remains subdued. Sempra Energy, owner of SoCalGas, reports a balanced natural gas market with a potential for excess supply developing further into the week as a result of reduced ability to store natural gas in its territory. SoCalGas reports the Aliso Canyon natural gas storage field reached maximum capacity on October 14 and is not available for further injections. Combined with planned maintenance at the Honor Rancho natural gas storage field, which began on October 15 and is scheduled to end at midnight on October 30, the ability of SoCalGas to balance its system through storage has been reduced by close to 750 MMcf/d. Northeast prices decline as warmer-than-normal temperatures limit the need for heating. At the Algonquin Citygate, which serves Boston-area consumers, the price went down 78 cents from $5.30/MMBtu last Wednesday to $4.52/MMBtu yesterday. Temperatures in the Boston Area averaged 62°F this week, resulting in 28 HDDs and 7 CDDs compared with 75 HDDs and 0 CDDs under a normal weather scenario for this time of year in the Boston area. At the Transcontinental Pipeline (Transco) Zone 6 trading point for New York City, the price decreased 70 cents from $4.85/MMBtu last Wednesday to $4.15/MMBtu yesterday. Prices at Transco Zone 6 reached weekly highs on Thursday of $5.24/MMBtu, a day ahead of the highest temperatures of the month. In New York’s Central Park, Friday temperatures reached a daily high of 79°F, 14°F above normal, resulting in 6 CDDs. IHS Markit estimates natural gas consumption for power generation in the New York/New Jersey region reached close to 2 Bcf/d on Friday, the highest daily average since the fourth week of September. IHS Markit estimates feed gas to the Cove Point LNG export terminal in Maryland averaged approximately 750 MMcf/d this report week, more than 500 MMcf/d higher than last week, reflecting a full week of operations after maintenance at the facility was completed on Tuesday, October 12 (notice ID 124956). Prices in the Appalachian Basin production region fall, reflecting similar declines in the Northeast. The Tennessee (TGP) Zone 4 Marcellus spot price decreased 46 cents from $4.67/MMBtu last Wednesday to $4.21/MMBtu yesterday. The price at Eastern Gas South in southwest Pennsylvania fell 64 cents from $4.76/MMBtu last Wednesday to $4.12/MMBtu yesterday. Both hubs reached weekly highs on Thursday, which is consistent with weekly highs reported in the Northeast; TGP Zone 4 Marcellus rose to $4.90/MMBtu and Eastern Gas South to $5.02/MMBtu. Planned maintenance on the NEXUS Gas Transmission pipeline continued this week and is expected to conclude by the end of October. Prices in the Permian Basin decline this week as natural gas flows and production decline. The price at the Waha Hub in West Texas, which is located near Permian Basin production activities, fell 14 cents this report week, from $4.72/MMBtu last Wednesday to $4.58/MMBtu yesterday. The Waha Hub traded 21 cents below the Henry Hub price yesterday, compared with last Wednesday, when it traded 73 cents below the Henry Hub price. Waha prices decreased by a smaller amount than Henry Hub prices as a result of decreased production. Production in the Permian Basin fell this week in response to impaired westbound pipeline capacity out of the Permian Basin (see SoCal section above). IHS Markit reports that net outflows from the Permian Basin and natural gas production in the basin both decreased by 0.2 Bcf/d this report week. U.S. supply of natural gas rises slightly this report week as a result of an increase in net imports from Canada. According to data from IHS Markit, the average total supply of natural gas rose by 0.3% compared with the previous report week from an average of 97.8 Bcf/d last report week to 98.1 Bcf/d this report week. Dry natural gas production declined by 0.6% (0.5 Bcf/d), but the decline was offset by an increase in net imports from Canada of 15.5% (0.8 Bcf/d). U.S. natural gas consumption increases week over week, led primarily by an increase in the residential/commercial sector. Total U.S. natural gas demand rose by 1.9% (1.6 Bcf/d) compared with the previous report week, according to data from IHS Markit. Natural gas consumed for power generation declined by 10.4% (3.2 Bcf/d), but the decline was more than offset by week-over-week increases in other sectors. Average weekly residential and commercial sector consumption increased 36.9% (3.8 Bcf/d) to 14.0 Bcf/d as the country transitions into the winter heating season. Nonetheless, the National Oceanic and Atmospheric Administration (NOAA) reports temperatures across most of the Midwest and Northeast at above-normal levels for this time of year, resulting in lower levels of residential and commercial sector consumption than for the same week last year, when the sector consumed 14.4 Bcf/d, according to IHS Markit estimates. Consumption in the industrial sector increased 2.2% (0.5 Bcf/d). Exports also rose. Pipeline exports to Mexico rose by 4.2% (0.2 Bcf/d) to 5.9 Bcf/d, and deliveries of feed gas to LNG export terminals rose by 3.5% (0.4 Bcf/d) to 10.9 Bcf/d, reflecting higher feed gas consumption in the Northeast that more than offset lower feed gas consumption in Louisiana. U.S. LNG exports increase week over week. Twenty LNG vessels (eight from Sabine Pass and four each from Cameron, Corpus Christi, and Freeport) with a combined LNG-carrying capacity of 74 Bcf departed the United States between October 14 and October 20, 2021, according to shipping data provided by Bloomberg Finance, L.P.

Storage:

The net injections into storage totaled 92 Bcf for the week ending October 15, compared with the five-year (2016–2020) average net injections of 69 Bcf and last year’s net injections of 49 Bcf during the same week. Working natural gas stocks totaled 3,461 Bcf, which is 151 Bcf lower than the five-year average and 458 Bcf lower than last year at this time. According to The Desk survey of natural gas analysts, estimates of the weekly net change to working natural gas stocks ranged from net injections of 79 Bcf to 96 Bcf, with a median estimate of 90 Bcf. The average rate of injections into storage is 7% lower than the five-year average so far in the refill season (April through October). If the rate of injections into storage matched the five-year average of 6.7 Bcf/d for the remainder of the refill season, the total inventory would be 3,568 Bcf on October 31, which is 151 Bcf lower than the five-year average of 3,719 Bcf for that time of year.

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PIPE EXCHANGE PRIVACY POLICY

Last Updated: August 2019

 

Pipe Exchange LLC (“Pipe Exchange,” “we,” “us,” and “our”) respects your privacy. This privacy policy (this “Privacy Policy”) explains the accepted privacy practices for our online service and product listings (collectively, the “Services”) found via our website at https://pipexch.com/ (the “Website”). It describes the ways in which your personal information is collected and used, and the rights and options available to you with respect to such information.

 

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Social Media Features

The Website includes social media features, such as the Facebook and LinkedIn buttons/icons. These features may collect your IP address, which page you are visiting on our site, and may set a cookie to enable the feature to function properly. Social media features are either hosted by a third party or hosted directly on the Website. Your interactions with these features are governed by the privacy policy of the company providing it. 

 

Links to Third Party Sites

The Website may contain links to other sites that are not owned or controlled by Pipe Exchange. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage you to be aware when you leave our site and to read the privacy statements of each and every web site that collects personally identifiable information. This Privacy Policy applies only to information collected by the Website. 

 

How We Store Your Information

Data Security

Pipe Exchange implements data security systems and procedures to secure the information stored on Pipe Exchange computer servers. Such systems and procedures reduce the risk of security breaches, but they do not provide absolute security. Therefore, Pipe Exchange cannot guarantee that the Website and Services are immune to unauthorized access to the information stored therein and to other information security risks.

 

Our Commitment to Data Security. To prevent unauthorized access, maintain data accuracy and ensure the correct use of information, we have applied reasonable and appropriate physical, electronic and managerial procedures to safeguard and secure the information we collect online. We also limit access to personal data and confidential information on our systems to only those employees with a specific need to access this information. However, due to technological limitations and the risk of unlawful interceptions and accessing of transmissions and/or data, we cannot completely assure you, and you should not expect, that your personal information, and any other electronically communicated information, will be absolutely confidential.

The security of your personal information is important to us. When you enter sensitive financial information via our Website, the transmission of that information is encrypted using secure socket layer technology (SSL).

Please remember that you play a valuable part in security as well. To the extent you have created an account on our Website, your password to access our site, which you select at registration, should never be shared with anyone and should be changed frequently.  After you have finished using our site, you should log off and exit your browser so no unauthorized persons can use our site with your name and account information.

Information Retention and Access to Personal Information. We’ll retain information for as long as your account is active or as needed to provide you the Services, to comply with applicable law, resolve disputes, and to enforce our agreements.   If your personally identifiable information changes, or if you no longer desire to use and access our Services, you may correct, update, delete/deactivate your information by emailing Pipe Exchange via the contact information listed below. Before Pipe Exchange is able to provide you with any information or correct any inaccuracies, however, we may ask you to verify your identity and to provide other details to help us to respond to your request. But please note: (1) there might be some latency in deleting this information from our servers and back-up storage; (2) we will not delete anonymized data and may continue to use it as describe in this Privacy Policy; and (3) we may retain information if necessary to comply with our legal, tax or accounting obligations, resolve disputes, manage security risks, or enforce our agreements. Even if you cease your use of the Services, we may retain certain information in order to meet our obligations.

Under California Civil Code Sections 1798.83-1798.84, California residents are entitled to ask us for a notice identifying the categories of personal information which we share with our affiliates and/or third parties for marketing purposes, and providing contact information for such affiliates and/or third parties.  If you are a California resident and would like a copy of this notice, please submit a written request to: privacy@pipexch.com

International Transfer of Information Collected

We are a global company, with customers around the world and it is important to note that the Services, and the Website, may be operated via servers situated in the United States and elsewhere. If you are located outside of the United States, please be aware that any information which you supply to Pipe Exchange (including, without limitation, personal information (e.g., your name, phone number, email address, etc.) may be transferred to, processed, and used in the United States and elsewhere. To provide you with the Services, you irrevocably and unconditionally consent that we may store, use, process, transfer and transmit such information in accordance with this Privacy Policy in the United States and locations around the world – including those outside your country which may provide different rules, regulations, and protections regarding privacy. Information may also be stored locally on the devices used to access the Services, which may be mobile.

We have taken appropriate safeguards to ensure that your personal data will remain protected in accordance with this Privacy Policy, whether your personal data is within our control or has been entrusted to our third party service providers and partners.

Changes to this Privacy Policy

From time to time, Pipe Exchange may change the terms of this Privacy Policy. Changes will take effect once they are posted online and by accessing and/or using the Website or Services after we make any such changes to this Privacy Policy, you are deemed to have accepted such changes.  If you do not agree with any of the amended terms, you must avoid any further use of the Website and/or Services offered by Pipe Exchange.

 

Inquiries or Concerns?

You may contact Pipe Exchange by emailing us at privacy@pipexch.com and we will do our best to provide a prompt response to your question.

PIPE EXCHANGE TERMS OF USE

Last updated: August 2019

Welcome to https://pipexch.com/Pipe Exchange (the “Website”). The Website is owned and operated by Pipe Exchange LLCPipe ExchangePipe Exchange including its related companies, affiliates and subsidiaries (collectively “Pipe Exchange,” “we,” “us,” “our”). We make the Website available to you, subject to the following Terms of Use (these “Terms of Use”). PLEASE READ THE FOLLOWING TERMS OF USE CAREFULLY BEFORE USING THE WEBSITE. By using the Website, you agree to these Terms of Use and agree they create a legally binding agreement between you and Pipe Exchange. If you do not agree to these Terms of Use, you may not use the Website. These Terms of Use are effective unless and until terminated by Pipe Exchange.

Minors are not authorized to access or use the Website for any purpose.

CHANGES TO TERMS OF USE

Pipe Exchange reserves the right, at any time, to modify, amend, alter or update these Terms of Use. These changes will be effective as of the date we post the revised version. By continuing to use the Website following such modifications, amendments, alterations or updates, you agree to be bound by such modifications, amendments, alterations or updates. Therefore, you should periodically visit this page to review our most current Terms of Use.

You may access the current version of these Terms of Use at any time by clicking on the link marked “Terms of Use” at the bottom of each page of the Website.

PRIVACY POLICY

In the course of your use of the Website, you may be asked to provide certain personalized information to us (such information referred to hereinafter as “User Information”).  Our information collection and use policies with respect to the privacy of such User Information are set forth in the Website’s Privacy Policy which is incorporated herein by reference for all purposes.  You acknowledge and agree that you are solely responsible for the accuracy and content of User Information, and you agree to keep it up to date. 

INTELLECTUAL PROPERTY RIGHTS

Pipe Exchange respects the intellectual property rights of others. As between you and Pipe Exchange, and except any User Information which you provide, all rights, title and interests in the Website, including all the content (including, for example, audio, photographs, illustrations, graphics, other visuals, video, copy, software, etc.), code, data and materials thereon, the look and feel, design and organization of the Website, and the compilation of the content, code, data and materials on the Website, including but not limited to any copyrights, trademark rights, patent rights, database rights, moral rights, sui generis rights and other intellectual property and proprietary rights therein (collectively the “Content”) are owned by Pipe Exchange or by third parties who have licensed or provided their Content to us. The Website is protected under Trademarks (as defined below), copyright, patent, trade secret and other intellectual property rights laws, and your use of the Website does not grant to you ownership of any Content you may access on the Website. You are prohibited from using the Website to infringe or violate any intellectual property rights. Pipe Exchange may terminate your right to access the Website if it believes you are using the Website in a manner that infringes the copyright, trademark, patent or other intellectual property rights of another.

We may investigate occurrences that may involve violations of the security of the Services or of the law and we may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

The trademarks, logos, service marks and trade names (collectively the “Trademarks”) displayed on the Website or on content available through the Website are registered and unregistered Trademarks of ours and others and may not be used unless authorized by the trademark owner.  All Trademarks not owned by us that appear on the Website or on or through the Website’s services, if any, are the property of their respective owners.  Nothing contained on the Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any Trademark displayed on the Website without our written permission or that of the third-party rights holder.  Your misuse of the Trademarks displayed on the Website is strictly prohibited.  Pipe Exchange will aggressively enforce its Trademark rights to the fullest extent of the law, including the seeking of criminal prosecution.

PERSONAL USE ONLY

The Website and the Content are intended for your personal use.  You may access and view the content on the Website via your computer or other internet compatible device, and make single copies or prints of the content on the Website for your personal, internal use only.   The Website and the services offered on or through the Website, including Pipe Exchange’s e-publication and any other content and materials thereon, are only for your personal, non-commercial use. Except as otherwise provided on the Website, you may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, sell, create derivative works from, transfer, or sell any information, software, products or services obtained from the Website. Use of the Website to sell a product or service, or to increase traffic to your website for commercial reasons, such as advertising sales is expressly forbidden.

PROHIBITED USE

Any commercial distribution, publishing or exploitation of the Website, or any content, code, data or materials on the Website, is strictly prohibited unless you have received the express prior permission of Pipe Exchange or the applicable rights holder.  You may not otherwise download, display, copy, reproduce, distribute, modify, perform, transfer, create derivative works from, sell or otherwise exploit any content, code, data or materials on the Website.  If you make other use of the Website, or the content, code, data or materials thereon, except as otherwise provided above, you may violate copyright and other laws of the United States, other countries, as well as applicable state laws and may be subject to liability for such unauthorized use.  Pipe Exchange will aggressively enforce its intellectual property rights to the fullest extent of the law, including the seeking of criminal prosecution.

SECURITY

You are prohibited from violating, or attempting to violate the security of the Website. Any such violations may result in criminal and civil liabilities to you.  You warrant and agree that, while using the Website and the various services and features offered on or through the Website, you shall not: (a) impersonate any person or entity or misrepresent your affiliation with any other person or entity; (b) insert your own or a third party’s advertising, branding or other promotional content into any of the Website’s content, materials or services, or use, redistribute, republish or exploit such content or service for any further commercial or promotional purposes or take any action that would constitute or could be interpreted as an endorsement or sponsorship by Pipe Exchange of any third party site, content, information or other materials, or in any manner that would violate the terms and conditions of any such third party sites; (c) attempt to probe, scan, or test the vulnerability of any system or network; or (d) attempt to gain unauthorized access to data not intended for you and/or other computer systems through the Website.  You shall not: (i) engage in spidering, “screen scraping,” “database scraping,” harvesting of e-mail addresses, wireless addresses or other contact or personal information, or any other automatic means of accessing, logging-in or registering on the Website or for any services or features offered on or through the Website, or obtaining lists of users or obtaining or accessing other information or features on, from or through the Website or the services offered on or through the Website, including, without limitation, any information residing on any server or database connected to the Website or any services offered on or through the Website; (ii) obtain or attempt to obtain unauthorized access to computer systems, materials, information or any services made available on or through the Website through any means; (iii) use the Website or the services made available on or through the Website in any manner with the intent to interrupt, damage, disable, overburden, or impair the Website or such services, including, without limitation, sending mass unsolicited messages or “flooding,” “spamming,” or “crashing” any systems; (iv) use the Website or the Website’s services or features in violation of Pipe Exchange’s or any third party’s intellectual property or other proprietary or legal rights; or (v) use the Website or the Website’s services in violation of any applicable law.  You further agree that you may not attempt (or encourage or support anyone else’s attempt) to circumvent, reverse engineer, decrypt, or otherwise alter or interfere with the Website or the Website’s services, or any content thereof, or make unauthorized use thereof.  You agree that you will not use the Website in any manner that could damage, disable, overburden, or impair the Website or interfere with any other party’s use and enjoyment of the Website. You may not obtain or attempt to obtain any materials or information through any means not intentionally made publicly available or provided for through the Website. Pipe Exchange will investigate any alleged violations and will cooperate with law enforcement agencies in their investigations.

THIRD-PARTY CONTENT

Some of the information and material available through the Website are provided to Pipe Exchange by third parties (“Third-Party Material”). In some instances, the source of the Third-Party Material is identified. Third-Party Material is provided for your convenience only and Pipe Exchange does not endorse these materials or the parties who supply them to us. Pipe Exchange does not warrant or represent that these Third-Party Materials are current, accurate or reliable.

COPYRIGHT AGENT

We respect the intellectual property rights of others, and require that the people who use the Website do the same.  If you believe that your work has been copied in a way that constitutes copyright infringement, please forward the following information to Pipe Exchange’s Copyright Agent, designated as such pursuant to the Digital Millennium Copyright Act, 17 U.S.C. § 512(c)(2), named below:

  • Your address, telephone number, and email address;
  • A description of the copyrighted work that you claim has been infringed;
  • A description of where the alleged infringing material is located;
  • A statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law;
  • An electronic or physical signature of the person authorized to act on behalf of the owner of the copyright interest; and
  • A statement by you, made under penalty of perjury, that the above information in your Notice is accurate and that you are the copyright owner or authorized to act on the copyright owner’s behalf.
  • For all email submissions please include the subject line: DMCA Takedown Request.

 

Pipe Exchange has adopted a policy of terminating, in appropriate circumstances, accounts of users of the services or the Website who are deemed to have repeatedly uploaded content that infringes the intellectual property rights of others.

 

Copyright Agent:

Pipe Exchange Legal

c/o Pipe Exchange LLC

14025 West Road.
Suite #100
Houston, TX 77041

Phone: + (713) 934-9480

Email: dmca@pipexch.com

DISCLAIMER OF WARRANTIES

THE WEBSITE AND ITS CONTENT ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER. PIPE EXCHANGE, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTY OF MERCHANTABILITY, NON-INFRINGEMENT OF THIRD PARTIES RIGHTS, AND THE WARRANTY OF FITNESS FOR PARTICULAR PURPOSE. PIPE EXCHANGE MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS FOUND OR CONTAINED ON THE WEBSITE. PIPE EXCHANGE DOES NOT WARRANT THAT THE WEBSITE, THE CONTENT, OR ITS SERVERS ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU UNDERSTAND AND AGREE THAT YOU OBTAIN MATERIAL THROUGH THE USE OF THE WEBSITE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGES TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS.

ALL MATERIAL CONTAINED IN THE WEBSITE IS FOR GENERAL INFORMATION ONLY, HAS NOT BEEN INDEPENDENTLY VERIFIED, HAS NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE REGULATORY AUTHORITY AND MAY CONTAIN ERRORS OR OMISSIONS OF MATERIAL INFORMATION. THE MATERIAL AND INFORMATION CONTAINED ON THE WEBSITE SHOULD NOT, THEREFORE, BE USED OR RELIED UPON FOR ANY SPECIFIC REASON OR APPLICATION WITHOUT INDEPENDENT COMPETENT PROFESSIONAL EXAMINATION AND VERIFICATION OF ITS ACCURACY, COMPLETENESS, SUITABILITY AND APPLICABILITY. ANYONE MAKING USE OF THE MATERIAL DOES SO AT HIS/HER/ITS OWN SOLE AND EXCLUSIVE RISK AND ASSUMES ANY AND ALL ACTUAL OR POTENTIAL DAMAGE OR LIABILITY RESULTING FROM SUCH USE.

LIMITATION OF LIABILITY

IN NO EVENT SHALL PIPE EXCHANGE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE MATERIAL ON THE WEBSITE OR SITES LINKED TO THE WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT PIPE EXCHANGE IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

TERMINATION

Pipe Exchange may terminate, change, suspend or discontinue any aspect of the Website or the Website’s services at any time.  Pipe Exchange may restrict, suspend or terminate your access to the Website and/or its services if we believe you are in breach of our terms and conditions or applicable law, or for any other reason without notice or liability.  Pipe Exchange maintains a policy that provides for the termination in appropriate circumstances of the Website use privileges of users who are repeat infringers of intellectual property rights.

USER’S REMEDY

If you are dissatisfied with any portion of the Website or with any of these Terms of Use, your sole and exclusive remedy is to discontinue using the Website.

GOVERNING LAW AND VENUE

These Terms of Use and the relationship between you and Pipe Exchange shall be governed by the laws of the United States and the State of Florida without regard to its conflict of law provisions. You hereby irrevocably submit and consent to the personal and exclusive jurisdiction of the courts located within Miami-Dade County, Florida and agree that any cause of action that may arise under these Terms of Use and all disputes arising out of or relating to the use of the Website shall be commenced and be heard in the appropriate court in Miami-Dade County, Florida. The failure of Pipe Exchange to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision. If any provision of these Terms of Use is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms of Use remain in full force and effect. 

QUESTIONS ABOUT TERMS OF USE

If you have any questions regarding these Terms of Use, please either:

Send an email to sales@pipexch.com

Write to Pipe Exchange at the following address:

14025 West Road

Suite 100

Houston, TX 77041