Cubic

Moody’s: Gas Woes Weigh on E&P Outlook

Despite a recent winter-driven run-up in natural gas prices, it’s still a better thing to have one’s energy in the form of barrels than cubic feet, and that will remain so for a while, Moody’s Investors Service said in a report released last Tuesday.

January 25, 2010

Moody’s: ‘Another Price Retreat May Be Inevitable’

Despite a recent winter-driven run-up in natural gas prices, it’s still a better thing to have one’s energy in the form of barrels than cubic feet, and that will remain so for a while, Moody’s Investors Service said in a report released Tuesday.

January 20, 2010

Natural Gas Use Said Key to Reduce GHG Emissions

Economic and environmental factors should push global natural gas demand to more than 4 trillion cubic meters (Tcm) a year (141 Tcf/year) by 2030, according to a three-year study by the International Gas Union (IGU) issued last week at the World Gas Conference in Buenos Aires, Argentina.

October 12, 2009

Study: Natural Gas Use Key to Reducing GHG Emissions

Economic and environmental factors should push global natural gas demand to more than 4 trillion cubic meters (Tcm) a year (141 Tcf/year) by 2030, according to a three-year study by the International Gas Union (IGU) that was issued this week at the World Gas Conference in Buenos Aires, Argentina.

October 9, 2009

Futures Fall Despite ‘Slightly Supportive’ 66 Bcf Build

A billion cubic feet withdrawal in the West region helped the Energy Information Administration (EIA) report the smallest national storage injection since mid-April. The government agency reported that 66 Bcf was put into the ground for the week ending July 17, which somewhat surprisingly sent futures values scurrying lower on Thursday to close at $3.550, down 24.3 cents from Wednesday’s regular session.

July 24, 2009

Industry Brief

Cheniere Energy Inc. said one of its subsidiaries has entered into a short-term time charter agreement on the Galeomma, a 126,000 cubic-meter liquefied natural gas (LNG) vessel, from Shell Western LNG BV. The time charter is currently expected to commence in the fourth quarter. The vessel is expected to be utilized primarily for Cheniere to import LNG into the United States, and Cheniere anticipates making the vessel available for Sabine Pass LNG LP, its approximately 92% owned subsidiary, to commission its LNG receiving terminal currently being constructed. “Sabine Pass LNG LP is scheduled to commence commissioning its LNG receiving terminal during February 2008 and the Galeomma will be available to support such activities,” said Jean Abiteboul, executive director of Cheniere LNG International. “With the chartering of this vessel and the expected delivery to its affiliate, J&S Cheniere SA, of two additional vessels currently scheduled for December 2007 and March 2008, a total of three vessels will be available for the respective LNG transportation activities of Cheniere and J&S Cheniere.”

September 19, 2007

Canaport Adding Third Tank to LNG Terminal

Canaport LNG LP, the partnership of Repsol YPF and Irving Oil, plans to construct a third 160,000 cubic meter liquefied natural gas (LNG) storage tank alongside its two existing tanks in St. John, NB, the company said Thursday.

September 10, 2007

Industry Briefs

Canaport LNG LP, the partnership of Repsol YPF and Irving Oil, plans to construct a third 160,000 cubic meter liquefied natural gas (LNG) storage tank alongside its two existing tanks in St. John, NB. The Canaport LNG project, including procurement, engineering and construction, is 46% complete and scheduled to be in operation in late 2008. The third LNG tank was originally approved by the provincial and federal governments under the environmental impact assessment completed on the project in August 2004 and will meet or exceed all international and Canadian standards for safety, the company said. Like the two existing full-containment tanks currently under construction, the third tank will consist of an inner tank made of high-performance 9% nickel steel and an outer tank made of advanced concrete. At commissioning, the terminal will have a sendout capacity of 1 Bcf/d with a peak capacity of 1.2 Bcf/d and could be expanded to 2 Bcf/d.

September 10, 2007

Despite Smaller Than Expected 77 Bcf Injection, Futures Continue Lower

While coming in below most industry estimates by a few billion cubic feet, the Energy Information Administration’s 77 Bcf storage injection reported for the week ended Sept. 22 was still significantly larger than last year’s 56 Bcf build and just topped the five-year average injection of 75 Bcf. The knee-jerk reaction in natural gas futures was to move higher, but November natural gas ultimately ended up closing at $5.392, down 27.7 cents on the day.

September 29, 2006

Cabot Reports Record Year-End Reserves, Mostly Gas

Cabot Oil & Gas Corp. last Tuesday reported record proved reserves of 1,202 billion cubic feet equivalent (Bcfe) for the company at the end of 2004, up 5% over last year.

February 28, 2005