The biggest downturn in price was for Mont Belvieu ethane, which is experiencing a late impact from unexpected cracker turnarounds.

Depressed natural gas prices have left large volumes of North American gas shut-in or undeveloped causing an increased differential between oil and gas prices, which is expected to become the norm until domestic-gas demand ticks up bringing balance to the market.

The Bakken is largely responsible for the revival of the Philadelphia oil refining industry and is helping to create increased refining capacity demand in the Gulf Coast.

Century Midstream LLC, Houston, has been formed through a partnership between a veteran management team and private-equity provider First Reserve.

Twenty years ago gas prices were high, supply was short and price volatility turned gas storage into a lucrative investment for those looking to capitalize on a vulnerable market.