In the natural gas market the major terminus points of pipelines are pricing points. For example, Chicago City Gate (CCG) and Transco Zone 6 into NY (TZ6) are two major markets. These terminus points are priced as basis contracts versus the Henry Hub (NG) and not as outright trades for the location. (a). To be long natural gas outright in CCG what transaction(s) would you employ? (3 pts) (b). To be long TZ6 and short CCG what transaction(s) would you employ? (3 pts) (c). Explain why it is possible for the TZ6 to Henry Hub basis to trade for an extended period of time at a super-premium to the costs associated with transport. (3 pts) In the natural gas market the major terminus points of pipelines are pricing points. For example, Chicago City Gate (CCG) and Transco Zone 6 into NY (TZ6) are two major markets. These terminus points are priced as basis contracts versus the Henry Hub (NG) and not as outright trades for the location. (a). To be long natural gas outright in CCG what transaction(s) would you employ? (3 pts) (b). To be long TZ6 and short CCG what transaction(s) would you employ? (3 pts) (c). Explain why it is possible for the TZ6 to Henry Hub basis to trade for an extended period of time at a super-premium to the costs associated with transport. (3 pts)