Favorable

Tricor Ten Section Hub LLC’s proposed gas storage project near Bakersfield, CA, has received a favorable environmental review from FERC’s Office of Energy Projects (OEP).

FERC has issued a favorable environmental assessment (EA) of Magnum Gas Storage LLC’s Utah project that will provide storage capacity to markets throughout the western United States via the Kern River Gas Transmission and Questar Pipeline systems.

FERC has issued a favorable environmental assessment (EA) of Magnum Gas Storage LLC’s Utah project that will provide storage capacity to markets throughout the western United States via the Kern River Gas Transmission and Questar Pipeline systems.

December natural gas futures managed a small gain Monday as some traders attributed favorable weather forecasts to giving the market a modest lift. December futures rose 4.6 cents to $3.845 and January also added 4.6 cents to settle at $4.028. December crude oil eased 2 cents to $84.86/bbl.

More than one-third of the global increase in natural gas production by 2035 will come from unconventional shale gas, coalbed methane and tight gas, according to the World Energy Outlook 2010 (WEO-2010), which was issued by the International Energy Agency (IEA) on Tuesday.

With less than a month remaining before an election that could change the makeup of both chambers of the Pennsylvania General Assembly, the state’s Republican-controlled Senate is preparing to take up legislation (SB 1155) approved last week by the Democratic-controlled House that would impose a 39 cents/Mcf (about 10%) severance tax on natural gas drilling in the state.

A C$5 billion integrated liquefied natural gas (LNG) import terminal, petrochemical complex and gas-fired cogeneration power plant in Goldboro, NS, received a favorable preliminary environmental review with a number of conditions last week. The Maple LNG project, formerly named Keltic LNG, which is sponsored by Netherlands-based Petroplus International and Russia’s Suntera Canada Ltd., would provide 1 Bcf/d of gas to the power plant and petrochemical complex being built by Keltic Petrochemicals.

Low natural gas prices could stifle the long-awaited nuclear renaissance, according to analysts at Standard & Poor’s Ratings Service (S&P). Without federal loan guarantees, merchant nuclear new builds will be abandoned, they said in a new report.

The petrochemical industry is growing more comfortable with the idea that favorable natural gas liquids (NGL) prices are going to stick around and players are positioning themselves to take advantage of that, Enterprise Products Partners LP Chief Commercial Officer Jim Teague told financial analysts last week.