Natural Gas

Consol to spend $1B drilling for gas in Marcellus, Utica shales in 2014: COO


Consol Energy, which has been shedding its coal operations to invest in gas, will use around three fourths of its total capital expenditure this year, nearly $1 billion, to drill for natural gas in the Marcellus and Utica shales in Appalachia, according to COO Tim Dugan, formerly of Chesapeake Energy, Platts reports.


US trade deficit at 2-year high in April, experts hope energy can narrow it

WASHINGTON (AP) — The U.S. trade deficit jumped to a two-year high in April, as exports declined and imports surged to a record high.

The deficit rose to $47.2 billion in April, up 6.9 percent from an upwardly revised March deficit of $44.2 billion, the Commerce Department said Wednesday.

Exports dropped for the fourth month out of the past five, falling 0.2 percent to $195.4 billion. Meanwhile, imports climbed 1.2 percent to an all-time high of $240.6 billion, reflecting record shipment levels of foreign-made cars, food, computers and other goods.

Kentucky plant emblematic of move from coal to gas

DRAKESBORO, Ky. (AP) — In the shadow of Paradise Fossil Plant's aging smokestacks, where white steam and carbon dioxide rises into the sky, outdated coal-fired generators are being replaced with one that runs on natural gas.

The change in Muhlenberg County, once the nation's top producer of coal, is emblematic of what's been happening across the U.S. as natural gas becomes cheaper and electric utilities try to meet stiffer carbon emissions rules the Obama administration announced this week.

Petrochemical producers in US get boost from cheap shale gas: S&P


Petrochemical companies operating in North America are getting a leg up over competitors from cheap shale gas, giving them the ability to process low-cost ethane in a steam cracker to get ethylene and other useful derivatives, according to a Standard & Poor’s analysis, Platts reports.

EU tells Bulgaria to suspend gas project

BRUSSELS (AP) — The European Union on Tuesday told Bulgaria to suspend preparatory work on the Russian gas pipeline South Stream, which will bypass Ukraine to bring supplies into the heart of Europe.

EU Commission spokeswoman Sabine Berger said Tuesday that work on the line should not proceed until the Bulgarian government gives clear answers on antitrust concerns over ownership. She added that "the project should be reevaluated in the light of the EU's energy security priorities."

The standoff over Ukraine has forced the 28-nation EU into a sudden rethink of its energy policies to make it less reliant on Russia and its state-owned gas giant Gazprom.

Gas deal with Russia this week or Ukraine goes to court: PM


If no deal is reached this week with Gazprom over natural gas prices then Ukraine will bring the matter to a court in Stockholm for arbitration, Prime Minister Arseny Yatseniuk told parliament Tuesday, Reuters reports.

Lawsuit delays Cheniere AGM

The Wall Street Journal

Cheniere Energy’s annual meeting, originally set to take place next week, won’t happen until September because of a lawsuit filed by a shareholder over executive compensation, the company said, according to The Wall Street Journal.

Carbon rule should see nat gas demand increase up to 2020: EIA


The increase in demand for natural gas as a result of the Environmental Protection Agency’s proposed new carbon rule would come to 3.29 billion cubic feet a day by 2020, according to the Energy Information Administration, but the EIA predicts demand would drop off afterward because of better energy efficiency, Platts reports.

Russia, Ukraine to continue to talk about natural gas price


A plan under discussion would resolve the natural gas dispute between Russia and Ukraine and fix the price Kiev would pay for gas from Moscow for a year, according to EU Energy Commissioner Guenther Oettinger, Reuters reports.

Nat gas stockpiles increase, speculators back away from price rally predictions


Natural gas prices are nearly a third lower than they were during a winter peak in February, Bloomberg reports, noting that hedge funds are retreating from bullish predictions.


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