May natural gas prices registered a lower low during the initial morning hours. The market had a positive showing yesterday, with a rally and close back above the $2.00 level, helped in part by a boost in weekday industrial demand and high level of US nuclear plant outages. The natural gas market has shown little reaction to news late yesterday that US regulators approved Cheniere Energy to export LNG from Sabine Pass Louisiana. The export flow is pegged at 2.2 bcf per day and is the first approval of LNG exports from the US in 50 years.
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