Natural Gas

Record high for natural gas prices as storm hits East Coast

Source: 
The Wall Street Journal

The infrastructure for natural gas delivery was in the spotlight again Tuesday as winter storms sent prices soaring at the main delivery point for New York City and Mid-Atlantic states, for the second time this month,The Wall Street Journal reports.

GE seeks high speed compressors, to buy Cameron in $550M deal

Source: 
FuelFix

More equipment used in shale plays may be sporting the General Electric logo in the future, as the company is planning to buy high speed compressor maker Cameron, FuelFix reports.

Shell sells stake in Australian gas project

THE HAGUE, Netherlands (AP) — Royal Dutch Shell PLC says it has agreed to sell its stakes in an Australian liquefied natural gas project to the Kuwaiti Foreign Petroleum Exploration Company for $1.135 billion (840 million euros).

Shell announced Monday it is selling its eight percent stake in the Wheatstone-Iago joint venture and its 6.4 percent interest in the Wheatstone liquefied natural gas project.

Shell CEO Ben van Beurden says in a statement the company is "making hard choices in our world-wide portfolio to improve Shell's capital efficiency."

NOAA

Polar vortex sets new gas withdrawal record, EIA reports

The Arctic cold blast last week prompted record-setting natural gas market responses that set new highs for demand, withdrawals from storage and prices, the Energy Information Administration reported Friday.

The week ending Jan. 10 saw the most gas pulled from underground storage, some 287 billion cubic feet, in the 20 years that data has been compiled, EIA said. That week marked the arrival of the so-called polar vortex on the East Coast, where temperatures plunged to the single digits and below.

Dutch to reduce gas production due to earthquakes

AMSTERDAM (AP) — The Dutch Cabinet has decided to reduce the amount of gas produced from fields that lie under the country's northernmost province by 6 percent, as the mining has caused earthquakes and damaged houses in the region.

Prime Minister Mark Rutte announced the decision Friday. He said that government-commissioned studies have shown beyond a doubt that the gas production did cause the earthquakes — long a topic of debate — which have been going on for years. Although rarely registering more than 3 on the Richter scale, the quakes have led to "material and emotional" damages for some residents in the province of Groningen, Rutte said.

In the small town of Loppersum, where damages have been worst, Economic Affairs Minister Henk Kamp traveled personally to city hall to deliver the news that production there would be cut by 80 percent.

Oil

US rig count rises by 23 this week to 1,777

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by 23 this week to 1,777.

The Houston firm said in its weekly report Friday that 1,408 rigs were exploring for oil and 365 for gas. Four were listed as miscellaneous. A year ago there were 1,749 active rigs.

Of the major oil- and gas-producing states, Texas gained 16 rigs, Oklahoma rose by three and Colorado two. Alaska, Arkansas, Ohio, Pennsylvania and Utah were up one each.

Europe to pressure US on natural gas

Source: 
National Journal

Europe is gearing up for a major lobbying effort to pressure the U.S. into opening up its natural gas exports, National Journal reports.

API calls for 'streamlined' nat gas pipeline approvals

Source: 
Platts

An official with the American Petroleum Institute said last week's cold snap and surge in natural gas prices should prompt faster approvals of pipelines to the Northeast, Platts reports. 

Cold weather draining natural gas supplies

Source: 
The Wall Street Journal

With the polar vortext sending temperatures plummeting, a record amount of natural gas was pulled out of storage tanks the week ending Jan. 10, according to EIA numbers, The Wall Street Journal reports.

Alaska to spend up to $5.7B for share in LNG pipeline, plant

Source: 
The Wall Street Journal

Alaska's Republican Governor Sean Parnell has announced that the state intends to invest up to $5.7 billion in a natural gas refinery and pipeline project being developed by major energy companies that would boost LNG exports, The Wall Street Journal reports.

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