Benefits

Expanded use of combined heat and power (CHP) systems, which recover and make use of waste heat from power generation, could be a means of growing demand for Marcellus Shale natural gas, according to the Commonwealth Recycled Energy Economic Development Alliance (CREEDA).

Natural gas experts said last week they believe the Marcellus Shale play can be developed in a way that benefits both industry and area residents, but they voiced concern about possible federal regulation of hydraulic fracturing (fracking) that they said could be based on situations unique to the Marcellus.

Natural gas experts say they believe the Marcellus Shale play can be developed in a way that benefits both industry and area residents, but they voiced concern about possible federal regulation of hydraulic fracturing (fracking) that they said could be based on situations unique to Marcellus.

A bill in a Texas House committee if passed would repeal a natural gas drilling tax break that benefits the vast majority of wells in the state’s shale gas plays. The bill’s sponsor says the incentive has outlived its usefulness, but an industry advocate claims its repeal would be a gas production- and job-killer.

The government of Quebec announced Tuesday that hydraulic fracturing could continue in the province for exploration purposes only, after the release of a much anticipated report that urged further study of the practice.

Quebec’s shale gas could generate as many as 19,000 jobs and more than C$1 billion in annual royalties for the province, according to an economic benefits study issued earlier this month.

Quebec’s shale gas could generate as many as 19,000 jobs and more than C$1 billion in annual royalties for the province, according to an economic benefits study issued on Friday.

Power generators and oil and natural gas producers Wednesday touted the benefits of natural gas in reducing carbon dioxide (CO2) emissions and called on Congress to expand its role in climate change legislation by providing incentives (see Daily GPI, Oct. 20). But a large industrial company and major gas consumer cautioned lawmakers about making a “dash to natural gas.”

TransCanada Corp. reported net income for fourth quarter 2008 of C$277 million, 47 cents/share, compared to C$377 million, 70 cents/share, for fourth quarter 2007. The results reflect tax benefits and land sale proceeds in the 2007 period. Earnings for 2008 were C$1.3 billion, C$2.25/share, an increase of about 8% compared to 2007. The company increased its quarterly dividend 6% to 38 cents/share.