Transco gas line issues alert due to cold, NY price at 5-yr high

NEW YORK Wed Jan 23, 2013 3:24pm GMT

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NEW YORK Jan 23 (Reuters) - Williams' Transcontinental Gas Pipeline Co (Transco), a major provider of natural gas to the U.S. Northeast, issued a system-wide operational flow order to its natural gas shippers on Wednesday as cold weather led to significant demand.

In a website posting to customers, Transco said it issued the order to ensure system integrity, manage imbalances on its system and handle within-the-day volatility effective on Thursday.

Gas traders said gas for Thursday delivery on the Transco pipeline at the New York citygate traded as high as $43 early and was at an average price of $37.50, the highest average price for New York tracked by Reuters since a peak at $38 in early January 2008.