World energy consumption will increase by 56% between 2010 and 2040, driven largely by increased demand from developing countries, according to the International Energy Outlook 2013 (IEO2013), which was released last Thursday by the Energy Information Administration (EIA). It sees global natural gas demand increasing by 64%.
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Spot prices for U.S. natural gas at most major trading points increased on average 40-60% in the first half of 2013 (1H2013) from a year earlier as demand eclipsed supply, the U.S. Energy Information Administration (EIA) reported last week.
California regulators are facing increased scrutiny on their response to stepping up natural gas pipeline safety oversight following a 2010 explosion in San Bruno on a Pacific Gas and Electric Co. (PG&E) line.
Wells Fargo Securities analysts last week increased their outlook for natural gas prices to reflect 2Q2013 average pricing. They also expect to see “slightly increasing” gas output as badly needed infrastructure in the Marcellus, Utica and Eagle Ford shales comes online.
Increased interstate cooperative projects on everything from bigger oil production to modernization of the natural gas pipeline infrastructure are all part of a 10-year energy plan unveiled Sunday by the Western Governors’ Association (WGA) at the conclusion of its three-day annual meeting in Park City, UT.
Trunkline Gas pipeline is seeking FERC authority to reconfigure an existing receipt point on its system to accommodate increased capacity and allow for the bi-directional flow of natural gas to and from the Cheniere Creole Trail Pipeline, which would deliver domestic gas to the Sabine Pass liquefied natural gas (LNG) export project in Cameron Parish, LA.
A pair of bills designed to tap “affordable natural gas in the MarcellusShale” and bring gas service to more consumers in Pennsylvania has been approved by the state’s Senate and moved to the House of Representatives for consideration.
NorthWestern Energy Corp. has increased its natural gas holdings in northern Montana’s Bear Paw Basin by acquiring some assets from Devon Energy Corp.
While natural gas is becoming the fuel of choice due to its clean-burning qualities and newfound abundance in North America thanks to shale development, the increased gas demand from multiple sources, including the industrial sector, electric power sector, transportation and liquefied natural gas and pipeline exports, is unlikely to boost the domestic price of the resource substantially, according to a new study titled “New Dynamics of the U.S. Natural Gas Market,” conducted by the Bipartisan Policy Center (BPC).