Natural Gas

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Canada Energy Regulator approves the first compressed natural gas facility in the NWT

The Inuvialuit Energy Security Project is expected to provide sustainable energy for the next 50 years CALGARY, AB, March 7, 2024 /CNW/ – The Commission of the Canada Energy Regulator (CER) has approved the Inuvialuit Energy Security Project (IESP) Energy Centre with 20 conditions. The project will convert natural gas into compressed natural gas, propane, and synthetic diesel that can be …

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U.S. Natgas Prices Little Changed Ahead of Federal Storage Report

U.S. natural gas futures were little changed on Thursday as the market waited for direction from a federal report expected to show a much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low. That lack of price movement came despite a bearish low amount of gas flowing to liquefied natural gas (LNG) …

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Gas Prices Jump as Top US Driller Slashes Output to Fight Glut

Mild weather has sent US natural gas prices tumbling EQT cut production by 1 bcf per day starting in late February US natural gas prices surged after EQT Corp., the nation’s largest producer, said it will slash output after an unseasonably warm winter and the resulting supply glut triggered a price collapse. EQT will curtail about …

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Biden’s Scaled-Back Power Rule Raises Doubts Over U.S. Climate Target

(Reuters) – The Biden administration’s decision to exclude the existing U.S. fleet of natural gas power plants from upcoming carbon emissions regulations raises questions over the nation’s ability to meet its climate goals, according to researchers. Cleaning up the U.S. power industry, source of about a quarter of the nation’s greenhouse gas emissions, has been …

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U.S. Natgas Prices Jump 6% to 3-week High as Output Drops

U.S. natural gas futures jumped about 6% to a three-week high on Monday as producers cut output after prices collapsed to a 3-1/2-year low in recent weeks. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 11.7 cents, or 6.4%, to $1.952 per million British thermal units (mmBtu) at 1:05 p.m. …

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U.S. Natgas Producers Cut Spending, Output to Cope with Low Prices

U.S. natural gas producers are curbing their output and spending on drilling activity as an oversupplied market has brought the prices of the commodity down to multi-decade lows. In recent months, gas prices have dropped on near-record output and low heating demand from a mild winter, leaving ample amounts of gas in storage. Below is …

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TC Energy to Sell Portland Natural Gas Transmission System for $1.14 Bln

Reuters March 4 (Reuters) – TC Energy  said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to BlackRock  for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments. CEO Francois Poirier had said in 2022 the company planned to raise more than C$5 billion ($3.69 billion) through 2023. The …

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U.S. Oil and Gas Rig Count Rises to Highest Since September- Baker Hughes

U.S. energy firms this week added oil and natural gas rigs for a second straight week to their highest since September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by three to 629 in the week to …

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Record U.S. Oil and Gas Production Keeps Prices Under Pressure: Kemp

U.S. production of oil and gas set new seasonal records in December, capping off an unprecedented year, according to data published by the U.S. Energy Information Administration (EIA) on Thursday. Production continued to climb even as prices slumped from the very high levels seen in mid-2022 after Russia’s invasion of Ukraine, contributing to the accumulation …

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Energy Firms Boost Gas Exploration in Southeast Asia to Meet Growing Demand

(Reuters) – Energy companies are ramping up exploration activities in Southeast Asia to boost natural gas output and meet long-term demand growth, drawn by recent discoveries and improved investment policies, company executives and analysts said. Malaysia and Indonesia have recently seen successful upstream discoveries, including a major discovery by Mubadala Energy in the South Andaman Block, following years …

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