Elsewhere

The global debate about climate change is accelerating, and the odds of binding carbon dioxide (CO2) caps in the United States and elsewhere are rising, but the bullish fundamentals of the oil and natural gas industry will not be impacted anytime soon — in fact, more stringent regulations favor natural gas, said Raymond James & Associates Inc. energy analysts.

A coastal Oregon liquefied natural gas (LNG) terminal project that is married to a 230-mile 36-inch-diameter pipeline to carry the supplies elsewhere in the Pacific Northwest and to California expects to make a formal filing to FERC in June. Jordan Cover LNG and the Pacific Connector Pipeline LP have nearly completed the pre-filing phase of the environmental assessment, the LNG project manager told NGI Wednesday.

Forecast costs of Canada’s arctic natural gas pipeline project have jumped 116% and the beleaguered scheme’s sponsors have pushed the target date for starting deliveries back at least three years.

For the time being, Mobile, AL-based Bay Gas Storage Co. Ltd. is growing its gas storage business on the back of the load-following needs of gas-fired power generators in Florida and elsewhere in the Southeast. In the future, the company could transform itself to serve the needs of natural gas customers sourcing gas supplies arriving in the eastern Gulf of Mexico and Mobile Bay area.

Although air conditioning load in the South will slacken Friday under a widespread set of thunderstorms and weather-related demand remains scarce elsewhere, cash prices made it a solid four-for-four days of bullish performance so far this week Thursday.

Severe economic pain will be felt this winter by natural gas customers nationwide. Utility companies in Texas, Minnesota, Alabama and elsewhere warned customers last week that winter bills will be about 40-90% higher than last winter.

TransCanada Corp. and ConocoPhillips announced last Wednesday they were suspending further work on their planned Fairwinds liquefied natural gas (LNG) project in Harpswell, ME, after the town residents voted not to lease the former U.S. Navy Fuel Depot site to build terminal and regasification facilities.

TransCanada Corp. and ConocoPhillips said Wednesday they will suspend further work on their planned Fairwinds liquefied natural gas (LNG) project in Harpswell, ME, after the town residents earlier this week voted not to lease the former U.S. Navy Fuel Depot site to build terminal and regasification facilities.

Forecasts of a windy and chilly Wednesday in the Northeast were enough to give a small boost to citygates there, but otherwise the market Tuesday continued the trend of mild softness that has prevailed since last Friday.