December 17, 2017

Alliance plans to stop flaring natural gas on Wednesday – Saskatchewan – CBC News

A major natural gas pipeline that was shut down in Western Canada after being contaminated with hydrogren sulfide (H2S) last week will be reopened, starting on Wednesday. Calgary-based Alliance Pipeline has been burning off gas at its facilities in Arcola and Alameda, Sask., for the past few days to clear the poisonous H2S out of its system. On Friday, it shut down the pipeline, which runs through B.C., Alberta and Saskatchewan. Alliance says its flaring operations in southeast Saskatchewan should wrap up on Wednesday, allowing its customers to start putting gas back in. In a news release, it says it has issued a request to existing shippers for purchase of up to…

Nigerian President Denies Oil Savings Account to Be Depleted – Bloomberg Business

Nigerian President Muhammadu Buhari denied that the oil savings account will be depleted to pay government debts, including civil servants’ salaries. The government will use a $2.1 billion dividend paid into the Treasury by Nigeria LNG Ltd., Africa’s biggest producer of liquefied natural gas, to pay wages, Buhari’s spokesman, Femi Adesina, said Tuesday in an e-mailed statement from the capital, Abuja. Nigeria’s 36 states and local arms of the government will also be able to draw “soft loans” from the central bank and have some debt restructured, he said. The comments seek to clarify statements made by Nigeria’s Accountant General Ahmed Idris…

The Great American Natural Gas Surge – Forbes

Americans already know about the U.S. natural gas revolution based on shale, with production up from 58 Bcf/day in 2008 to 75 Bcf/day today. This incremental increase has been so large that, if standing as its own nation, our shale gas production surge since 2008 alone would be the world’s 3rd largest natural gas supplier in the world, behind Russia and the U.S. in supplies not from shale. This has enabled a huge shift in natural gas demand throughout the U.S. economy. Gas is an increasingly attractive fuel to help cut greenhouse gas emissions: gas is scalable, cleaner, cheaper, abundant,…

Natural Gas Has Strongest Quarter Since 2013 – WSJ

Natural gas futures rallied Tuesday afternoon on weather updates that showed hotter temperatures than previously expected. Prices for the front-month August contract settled up 2.7 cents, or 1%, to $2.832 a million British thermal unit on the New York Mercantile Exchange. It is gas’s fourth winning session in the past five, but prices are still firmly locked in a 17-cent range they have settled within every day for three weeks. Prices rebounded from as low as $2.752/mmBtu earlier in the session after the most widely watched U.S. government forecast showed a trough of cool air hitting farther east than originally…

EPA ruling may be a ‘big plus’ for natural gas – MarketWatch

The U.S. Supreme Court ruling against the Environmental Protection Agency’s regulations on power-plant emissions is a “big plus” for natural gas, an analyst said Monday. The Supreme Court ruled that the EPA needs to consider costs when regulating pollution caused by power plants, which include coal-fired plants. The court ruling keeps the EPA from imposing new regulations to reduce the amount of mercury and other air toxins. “The ruling also will be a negative for solar and wind which may be a positive for natural gas …. Those proposed solar and wind facilities may now be natural gas,” said Richard Gechter, Jr., principal and…

EU will struggle to reduce natural gas imports from Russia, experts say – Yahoo Finance UK

LONDON (ShareCast) – The European Union would find it difficult to reduce its reliance on natural gas imports from Russia, according to industry experts. While overtures are afoot to decouple from Russian imports in wake of the Ukraine crisis and subsequent sanctions on Moscow, published data paints a grim picture. According to Eurogas, a non-profit lobby group of natural gas wholesalers, retailers and distributors, the EU’s 28 members sourced 24% of their gas from Russia in 2012. However, averages can be misleading. For instance, Estonia, Finland, Latvia and Lithuania got nearly 100% of their gas from Russia, with Bulgaria, Hungary and…

Business – Nigeria’s Liquefied Natural Gas Exports Hits $85bn | Nigerian Bulletin

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Nigeria Liquefied Natural Gas Company Limited (NLNG), has generated some 85 billion dollars from exports since its inception 15 years ago, the company announced late Friday. “For us, it has been a success story. Between 1999 when we came on stream and now, we have realised some 85 billion dollars from exports of liquefied natural gas to buyers in Europe, America and Asia,” chief executive Babs Omotowa said. “Just a few days ago, we paid 1.6 billion dollars to the government as tax and this will go a long way to assist the new government in solving some of its…

Why New York’s Fracking Ban For Natural Gas Is Unsustainable – Forbes

In December, New York became the 2nd state after Vermont to prohibit hydraulic fracturing (“fracking”) statewide. Although a few others have joined in, New York is the only state with significant shale gas potential to ban fracking, “the most important, and the biggest, energy innovation of this century.” This controversial decision by Governor Cuomo has even fueled secession talk by the southern part of the state that has sat idly by and watched neighbor Pennsylvania enjoy the huge economic benefits of shale development (as such, states like Texas and Oklahoma are banning fracking bans!). Fracking technology, after all, is a proven commodity that has…

Natural Gas Hits One-Month Low on Heavy Surplus – WSJ

Natural-gas prices set a fresh one-month low Friday as the market keeps reeling from a larger-than-expected glut. The front-month July contract lost 3.6 cents, or 1.4%, to $2.59 a million British thermal units on the New York Mercantile Exchange. Gas prices have fallen 11 times in 14 sessions and lost nearly 14% since it closed at a four-month high on May 15. Weekly surpluses have exceeded expectations for two weeks in a row, signaling the market may be oversupplied by about 3 billion cubic feet a day, according to analysts’ estimates. The U.S. Energy Information Administration said Thursday last week’s…

Natural gas stands to get a boost from carbon tax : Nature News & Comment

It is no accident that major European oil and gas companies — including BP, Shell and Total — chose to call for a price on carbon emissions just before this week’s World Gas Conference in Paris. Also known as a carbon tax, such an approach has been proposed as a way to limit global warming by encouraging a shift away from coal and other high-carbon fossil fuels, and towards renewable energy. It could well also give a boost to demand for natural gas, the cleanest-burning fossil fuel. The companies’ call for a carbon price is “an unequivocally positive development”, says…