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…
Articles from Algonquin
Natural Gas Futures Flop Following Production Bump, Mixed Weather Outlook; Cash Prices Climb
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…
Brief — New Brunswick Gas
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 Clears Additional Service for Atlantic Bridge Project
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.
New York Urges FERC to Act on Safety Risks of Colocated Algonquin Pipes, Nuclear Plant
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.
Northeast Gas Pipeline Buildout Hits Bottleneck in Massachusetts
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.
Weather Models Suggest Incoming Cold; December Seen 4 Cents Higher
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.
FERC OKs Algonquin’s Atlantic Bridge Facilities in New York State
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.
Algonquin Withdraws Pre-Filing Application For Access Northeast Project
Citing “gaps in energy policy” in New England, Algonquin Gas Transmission LLC has withdrawn its Access Northeast Project from FERC’s pre-filing review process, though it said it remains committed to addressing the region’s need for natural gas pipeline infrastructure for electric generation.
Atlantic Bridge Gets New York Water Permits After Recent History of Denials
Algonquin Gas Transmission LLC has secured necessary water quality permits from New York state for its Atlantic Bridge expansion, an important step for the project given the state has used its authority to stall two major pipeline projects in the past year.