Algonquin

Natural gas futures strengthened Monday as weather models trended cooler for late April, providing support to a market awash in supply but also seeing a surge in LNG demand. The May Nymex gas futures contract settled at $2.275/MMBtu, up 16.1 cents on the day. June futures climbed 13.9 cents to $2.444. At A Glance: Production…

New England paid some of the highest natural gas prices on record last year amid pipeline constraints and stronger competition for LNG. Daily spot natural gas prices at Algonquin Citygate near Boston peaked last year at $34.900/MMBtu in December, according to NGI data, and were higher than benchmarks in both Asia and Europe at that…

Natural gas futures gave up ground Wednesday as traders absorbed reports of increased production, uneven weather-driven demand and the potential to avert a railroad strike.  At A Glance: Gas production bounces back Markets mull evolving weather Analysts see storage pull in 80s Bcf The January Nymex natural gas futures contract, a day after edging ahead…

Ownership of New Brunswick’s natural gas distribution franchise is changing hands in a C$331 million (US$265 million) sale announced Tuesday by Calgary-based Enbridge Inc. The buyer — Liberty Utilities (Canada) LP, a subsidiary of Oakville, ON-based Algonquin Power & Utilities Corp. — added that a C$5 million (US$4 million) service expansion program will begin after the deal’s scheduled close in first-half 2019. Under Enbridge ownership the franchise, New Brunswick Gas, arranged for imports from the eastern United States for its 12,000 customers in 12 communities to replace Nova Scotia offshore wells that are depleted and shutting down. Enbridge retains a 78% ownership interest in the import route, Maritimes & Northeast Pipeline. The Calgary gas and oil transportation conglomerate described the New Brunswick deal as part of continuing asset sales triggered by its C$37 billion (US$28 billion) takeover of Houston-based Spectra Energy in 2016.

FERC has granted another request from Algonquin Gas Transmission LLC authorizing the company to place part of its Atlantic Bridge project into service in Connecticut.

Four state agencies in New York are calling on FERC to better address the safety issues that officials claim were uncovered by an independent risk analysis of the Algonquin Incremental Market (AIM) pipeline’s proximity to a nuclear power plant in Westchester County.

A multi-year effort to add natural gas pipeline capacity from Appalachia to New England and Eastern Canada has hit a roadblock in Massachusetts, with Maine businesses crying for a resolution to bring relief for large electricity consumers.

December natural gas is expected to open 4 cents higher Thursday morning at $2.93 as weather models suggest a pattern leading to additional cold. Overnight oil markets were mixed.

Algonquin Gas Transmission LLC has been given permission by FERC to proceed with infrastructure construction in New York to support the $452 million Atlantic Bridge expansion project.