Clean

DKRW Energy LLC and a subsidiary of Houston-based El Paso Corp. received three environmental permits for their proposed joint venture liquefied natural gas (LNG) terminal and 1 Bcf/d pipeline facilities in Sonora, Mexico.

Upticks by as much as about 70 cents at a few Rockies locations averted a clean sweep of declines in the cash market Friday. All other points recorded losses in bowing to the dearth of heating load in most areas. A dime-plus fall by January futures a day earlier and the usual weekend slump of industrial demand further weakened cash quotes.

The predicted shakeout of Gulf Coast/Gulf of Mexico liquefied natural gas (LNG) projects is well under way, with ConocoPhillips adding its Beacon Port Clean Energy terminal offshore Louisiana to a growing list of projects that have been mothballed or canceled in recent weeks. Beacon Port’s demise follows ConocoPhillips’ other offshore LNG project, Compass Port, ExxonMobil’s Pearl Crossing, BP’s Bay Crossing/Pelican Island project onshore Texas and several others.

The predicted shakeout of Gulf Coast/Gulf of Mexico liquefied natural gas (LNG) projects is well under way, with ConocoPhillips adding its Beacon Port Clean Energy terminal offshore Louisiana to a growing list of projects that have been mothballed or canceled in recent weeks (see Daily GPI, March 23). Beacon Port’s demise follows ConocoPhillips’ other offshore LNG project, Compass Port, ExxonMobil’s Pearl Crossing, BP’s Bay Crossing/Pelican Island project onshore Texas and several others.

Several flat to marginally lower prices (mostly in the West) again prevented the cash market from making it a clean sweep of increases Tuesday. Otherwise, lingering heat, although not anywhere near as bad as in late July and early August, allowed prices to ignore a dime drop in futures the day before and record gains of anywhere from 2-3 cents to nearly 45 cents.

Most points recorded single-digit declines Wednesday, with a few others falling by up to nearly 20 cents. A clean sweep of softening was averted by a few scattered points that ranged from flat to a little more than a dime higher.

A modestly higher Gulf Coast point prevented a clean sweep of continuing price softness Thursday. A lack of weather-related demand, the additional loss of industrial load associated with a long holiday weekend and prior-day screen weakness combined to send prices lower at all other points.

Only a few flat to barely higher western points averted a clean sweep of softening in cash prices Thursday. A small prior-day screen decline joined already-negative weather and storage influences in putting downward pressure on the market.

Although it found no significant damage, Enbridge Inc. and Enbridge Energy Partners LP said Monday that clean up and inspections following Hurricane Rita will be costly and may take several weeks or longer on the UTOS and Stingray facilities, among others. Enbridge Inc. expects a total net earnings impact of C$5 million (US$4.29 million), while Energy Partners expects a C$2 million (US$1.72 million) reduction in net income.