TransCanada Chief Says Broadwater LNG Will Reduce Gas Price Volatility in New York
Posted on Jan 18, 2008 in Markets and Competition, Regas Terminals & Capacity | Comments Off on TransCanada Chief Says Broadwater LNG Will Reduce Gas Price Volatility in New York
Following a conference in Calgary, TransCanada CEO Hal Kvisle told Reuters that the proposed Broadwater LNG regasification terminal will help smooth the natural gas price spikes that can be caused by lack of supply during cold snaps. Kvisle noted that “[w]e’ve had $25 to $30 premiums in the New York market versus Henry Hub prices. That illustrates the incredible bottleneck...
DB Energy Trading, Excelerate Announce Off-Take Purchase Arrangement
Posted on Jan 17, 2008 in Markets and Competition, Regas Terminals & Capacity | Comments Off on DB Energy Trading, Excelerate Announce Off-Take Purchase Arrangement
Excelerate Energy announced yesterday that it has signed an LNG off-take purchase agreement with DB Energy Trading LLC, a subsidiary of Deutsche Bank AG. Under the agreement, DB Energy Trading will be entitled to sell regasified LNG from Excelerate’s Gulf Gateway and Northeast Gateway deepwater ports. The press release is available via...
CLNG Executive Says Main Obstacles to Terminal Construction are Investment Costs and Lack of Supply
Posted on Jan 16, 2008 in Markets and Competition, Regas Terminals & Capacity | Comments Off on CLNG Executive Says Main Obstacles to Terminal Construction are Investment Costs and Lack of Supply
Bill Cooper, executive director of the Center for Liquefied Natural Gas (CLNG), told the Houston Chronicle that he believes the two main obstacles to LNG terminal construction in the United States are rising construction costs and difficulties securing LNG supplies. In his interview with the Chronicle, Cooper also noted that he believes it is unlikely that LNG exporting countries...
NATS: 2008 LNG Imports to U.S. Market May Not Reach 2007 Levels
Posted on Jan 11, 2008 in Markets and Competition | Comments Off on NATS: 2008 LNG Imports to U.S. Market May Not Reach 2007 Levels
Citing a tight LNG supply market, expanded domestic natural gas supplies, continued nuclear power disruptions in Japan, and other factors, NATS offers an LNG market commentary suggesting that 2008 LNG imports to the United States may not reach the record-breaking levels seen in 2007. Instead, NATS predicts that LNG imports to the United States will only surge if cargos have nowhere...
Sempra Further Delays Port Arthur LNG Terminal
Posted on Jan 10, 2008 in Markets and Competition, Regas Terminals & Capacity | Comments Off on Sempra Further Delays Port Arthur LNG Terminal
A spokesperson for Sempra Energy told the San Diego Union-Tribune yesterday that the company is further delaying construction of its Port Arthur LNG terminal, although the project has received the necessary permits to begin construction. “We will only begin construction once…supply and capacity contracts are in place,” said the spokesperson. The company also announced...
Analyst: LNG Imports will Utilize Storage Capacity Growth Near Gulf Coast
Posted on Jan 9, 2008 in Markets and Competition, Storage | Comments Off on Analyst: LNG Imports will Utilize Storage Capacity Growth Near Gulf Coast
Speaking to a client forum last week, James Diemer of Pace Global predicted that anticipated increases in LNG imports to the Gulf Coast will become the market drivers for the new storage capacity being added in the region, Platts LNG Daily reports. Diemer noted that, in addition to increased LNG imports, a tightening credit market and the regulatory review process will likely prevent...