CERA: U.S. Market to Demand Only One-Fifth of New LNG Production
Posted on Jun 12, 2006 in Liquefaction, LNGLawBlog, Markets and Competition | Comments Off on CERA: U.S. Market to Demand Only One-Fifth of New LNG Production
Cambridge Energy Research Associates analyst Robert Ineson projects that the U.S. market will “only capture 20%” of an expected worldwide increase in LNG production of 5 Bcf/day in the next two years. Despite being the world’s single biggest gas market, the U.S. has seen a significant decline since the beginning of the year in what were once record high gas...
Greenspan Says LNG Imports Will Determine Natural Gas Prices
Posted on Jun 9, 2006 in Markets and Competition | Comments Off on Greenspan Says LNG Imports Will Determine Natural Gas Prices
“At some point, LNG imports will set the price of gas in the U.S.,” former chairman of the Federal Reserve Alan Greenspan said Wednesday before the Senate Foreign Relations Committee, noting that prices should begin to reflect the marginal price of bringing gas to the U.S. He also called for more long-term supply contracts, because the LNG market “works...
FERC Nominees Offer Differing Perspectives on LNG Imports
Posted on Jun 9, 2006 in Markets and Competition | Comments Off on FERC Nominees Offer Differing Perspectives on LNG Imports
During a confirmation hearing held yesterday before the Senate Energy and Natural Resources Committee, FERC nominees expressed differing views on whether the United States should meet its natural gas demand by importing LNG. Nominee Jon Wellinghoff, a partner at a Colorado law firm, advocated using gas from Alaska, saying, “We may have to someday take LNG, but let’s do the...
FERC Commissioner Brownell to Leave Post in August
Posted on Jun 9, 2006 in Federal Regulation | Comments Off on FERC Commissioner Brownell to Leave Post in August
Energy & Environment Daily reports that FERC Commissioner Nora Mead Brownell will forgo a second term, but will retain her position until the first week of August to allow time for the Senate confirmation process. In a letter to President Bush, Brownell expressed confidence in the President’s appointees and emphasized the need for “strong leadership” and...
ConocoPhillips Calls Off Compass Port LNG Plan
Posted on Jun 9, 2006 in Environmental, Policy, Legislation and Politics, Regas Terminals & Capacity | Comments Off on ConocoPhillips Calls Off Compass Port LNG Plan
In a statement issued on Thursday, Alabama Gov. Bob Riley announced that ConocoPhillips will withdraw its plan to build an LNG terminal off the state’s coast. Riley previously intimated that he would likely veto the Compass Port LNG project if it used open-rack vaporizers, which he said may have an adverse environmental impact on aquatic life in the Gulf. The withdrawal comes more than...