ExxonMobil Corp. confirmed Tuesday that about 2 Bcf/d of liquefied natural gas (LNG) will be headed to the U.S. marketplace from Qatar in 2008 or 2009. The company held a ceremony in Doha, Qatar with Qatar Petroleum, its partner in RasGas LNG, Tuesday to announce the launch of Ras Laffan LNG (RL3), a $14 billion gas production, liquefaction, transportation and regasification project that will include two LNG production trains totaling 15.6 million metric tons of LNG per year.
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DTE Official Presses for Second Energy Bill, Says LIHEAP Only ‘Safety Net’ This Winter
Energy policymakers are quickly headed for disaster this winter, said DTE Energy Gas President Stephen Ewing, the 2006 chairman of the American Gas Association. He said the magnitude of the situation will dawn on the nation’s 52 million natural gas consumers when they get their gas bills about mid-December and see massive cost increases. But there is still time for the industry to do something about it.
Former Allegheny Energy Trader Sentenced to Prison, Fined $100,000
Daniel Gordon, 29, who formerly headed energy trading for Merrill Lynch & Co. and then Allegheny Energy, on Friday was sentenced to three and a half years in prison for embezzling $43 million from the investment banker.
Futures Break Six-Day Upward Streak, Await EIA Storage Methodology Revision
After giving the appearance in Wednesday morning trading that natural gas futures were headed higher for a seventh consecutive day, the September contract ended up pulling off of its highs and exploring lower, before settling near unchanged.
Energy Bill Handily Passes Senate by 3-to-1 Margin, Next Stop White House
Long-awaited omnibus energy legislation is headed to the White House after it cleared the Senate by a nearly three-to-one margin Friday and was voted out by the House a day earlier, crossing the finishing line ahead of the Aug. 1 deadline set by President Bush.
California Governor Appoints CEC Chairman, CPUC Fifth Member
California Gov. Arnold Schwarzenegger named his chief energy adviser as the new chairman of the California Energy Commission (CEC) and a former Reagan Administration treasury official who once headed a major Wall Street credit rating firm as the fifth member of the California Public Utilities Commission. The appointments require state Senate confirmation, but the designates can serve in their respective positions for up to a year without the lawmakers’ confirmation.
FERC Chairman Heading Home to Texas After Four Years at Agency’s Helm
FERC Chairman Patrick Wood III, who has headed the agency since 2001, announced last Wednesday that he will leave the Commission when his term expires on June 30. He’s returning to his home state of Texas, although in a press briefing with reporters Wood didn’t disclose any specific plans for his next career move. Commissioner Joseph Kelliher may be selected by the Bush administration as a likely replacement for Wood, if only temporarily.
FERC Chairman Wood Plans Departure on June 30
FERC Chairman Pat Wood III, who has headed the agency since 2001, announced to his staff Wednesday that he will leave the Commission when his term expires on June 30. He will return to Texas, although in a press briefing with reporters Wood didn’t articulate any specific plans for his next career move. Commissioner Joseph Kelliher may be selected by the Bush administration as a likely replacement for Wood, if only temporarily.
Class Action Lawsuit Against Sempra Energy, Utilities Headed for Trial
A San Diego County state Superior Court judge has set for trial a class-action lawsuit alleging Sempra Energy and its two California utilities conspired with El Paso Natural Gas Corp. and others to raise wholesale natural gas prices at the California-Arizona border during the energy crisis of 2000-2001. The plaintiffs said that economists estimated there could be $9 billion in potential damages involved.
Class Action Lawsuit Against Sempra Energy, Utilities Headed for Trial
A San Diego County state Superior Court judge has set for trial a class-action lawsuit alleging Sempra Energy and its two California utilities conspired with El Paso Natural Gas Corp. and others to raise wholesale natural gas prices at the California-Arizona border during the energy crisis of 2000-2001. The plaintiffs said that economists estimated there could be $9 billion in potential damages involved.