Clearing House Advisory Notices
To | Clearing Member Firms
From | CME Clearing
Subject | Update on Force Majeure Declaration with Respect to NYMEX Natural Gas Deliveries - August 2008 and September 2008 contracts
Notice Date | 2008-09-16
Notice Number | 08-227
Effective Date | 2008-09-17
The Natural Gas Delivery Committee (the “Committee”) convened today, Tuesday, September 16, 2008 to review the status of the Force Majeure condition currently in place with regard to NYMEX Natural Gas deliveries for the August and September delivery months. By way of background, a Force Majeure was determined by the Committee predicated on a declaration by Sabine Pipeline that it had affected a Force Majeure at the Henry Hub effective at 9:00 p.m. on September 12, 2008, along with an associated shut-down of all of its facilities (see NYMEX Notice No. 476 dated September 13, 2008). The Committee notes that it is aware that Sabine has posted today a notice that it was lifting its Force Majeure on a limited amount of points on its system for gas flow September 17, 2008. Please note that Sabine posts updates regarding the details of the conditions of their system at www.sabinepipeline.com. Click on the topic heading "Informational Postings," then "Notices" from the drop down menu, and finally on "Critical." For the full text of this advisory...