Gold

San Diego-based Sempra Energy’s vast liquefied natural gas (LNG) stake in North America looks like a pot of gold with more than 2 Bcf/d of LNG capacity sold to LNG suppliers at two of its three permitted terminals that are under construction and set to begin commercial operations next year.

FERC last Tuesday gave environmental clearance to Gold Pass Pipeline LP’s plan to enlarge pipe facilities in Jefferson and Orange counties in East Texas that will support ExxonMobil’s proposed Golden Pass liquefied natural gas (LNG) terminal in Louisiana.

FERC on Tuesday gave environmental clearance to Gold Pass Pipeline LP’s plan to enlarge pipe facilities in Jefferson and Orange counties in East Texas that will support ExxonMobil’s proposed Golden Pass liquefied natural gas (LNG) terminal in Louisiana.

“North to Alaska, go north, the rush is on.” The old song byJohnny Horton about the Alaskan gold rush could easily be rewrittentoday — but the attraction would be the huge reserves of naturalgas there. This past week, the rush began to drum up private andpublic support to build a gas pipeline that would transport themassive untapped reserves from the Alaskan North Slope and theCanadian Mackenzie Delta to the Lower 48.

It may be time for all the critics of the proposed Independence,MarketLink and Millennium expansions to pipe down. Transportationto the Northeast market from the Gulf of Mexico rocketed to$16.50/MMBtu yesterday. Gas prices at the New York City Gate onTranscontinental Gas Pipe Line jumped as high as $19/MMBtu whileHenry Hub spot prices languished in the $2.50s. Deliverabilityclearly is not as rosy as many industry experts once thought.