Bellevue, WA-based Puget Sound Energy (PSE) announced last Monday that its investments in new utility infrastructure will total $421 million this year, with about $247 million of the total aimed at capacity and reliability upgrades. The rest is focused on natural gas and electric distribution utility customer growth, the Puget Energy utility said.
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Puget Sound Energy to Invest $421M in Infrastructure Upgrades
Bellevue, WA-based Puget Sound Energy (PSE) announced Monday that its investments in new utility infrastructure will total $421 million this year, with about $247 million of the total aimed at capacity and reliability upgrades. The rest is focused on natural gas and electric distribution utility customer growth, the Puget Energy utility said.
Futures Test $7 as Gustav Lacked Gulf-Busting Gusto
As it became more evident Wednesday that Hurricane Gustav left the energy infrastructure in the Gulf of Mexico intact (see related story), October natural gas futures continued to press the downside, coming within a couple of pennies of breaking below $7. The prompt-month contract recorded a low of $7.028 before rebounding to close out Wednesday’s regular session at $7.264, up less than a penny from Tuesday’s finish.
‘Loose’ Gas Supply Expected to Fill Storage by End of Injection Season
At this stage, it’s still difficult to predict how much damage Hurricane Gustav may inflict on natural gas infrastructure on- and offshore along the Gulf of Mexico. However, the increase in gas production onshore in the past few months has led to a “sudden loosening of the supply and demand balance,” which was evident in storage data issued by the Energy Information Administration, Lehman Brothers analysts said in a recent report.
Chesapeake Readies Midstream Spin-off
Chesapeake Energy Corp. has begun a “series of steps” to spin off a subsidiary to hold its midstream natural gas assets — and allow it to build pipeline infrastructure in some of its productive shale plays. The new subsidiary would be formed within “months, not quarters,” said a senior executive.
EnCana: U.S. Shale Gas Supply to Nearly Double by 2015
If pipeline and storage infrastructure keep pace, natural gas produced from U.S. shale basins is expected to account for 18% of Lower 48 supply by 2015, which is well ahead of the 8% of supply that shale gas accounted for in 2007, according to EnCana Corp. The Calgary-based producer, whose leaseholds are spread across unconventional gas basins in the United States and Canada, is shooting to be the leader of the pack, executives said Thursday.
EnCana Says U.S. Shale Gas Supply to Nearly Double by 2015
If pipeline and storage infrastructure can keep pace, natural gas produced from U.S. shale basins is expected to account for 18% of Lower 48 supply by 2015 — compared with the 8% of supply that shale gas accounted for in 2007, according to EnCana Corp. The Calgary-based producer, whose leaseholds are spread across unconventional gas basins in the United States and Canada, is shooting to be the leader of the pack, executives said Thursday.
S&P Maintains Separate, Higher Ratings on Sempra Utilities
While trading and natural gas infrastructure projects have fueled record earnings growth in recent years, San Diego-based Sempra Energy’s two major California utilities remain the foundation for the $11 billion energy holding company, according to Standard & Poor’s Ratings Services (S&P).
TransCanada Finds Partners on Proposed 1.2 Bcf/d Pathfinder Pipeline
In the race to build new takeaway natural gas pipeline infrastructure out of the Rockies, the proposed Pathfinder Pipeline project received a boost last week as TransCanada Corp., affiliates of Enterprise Products Partners LP and Quicksilver Gas Services LP signed a memorandum of understanding (MOU) under which Enterprise and Quicksilver Gas Services would acquire up to an aggregate 50% ownership in the project and commit to ship a total of 500 MMcf/d for a 10-year term.
TransCanada Finds Partners on Proposed 1.2 Bcf/d Pathfinder Pipeline
In the race to build new takeaway natural gas pipeline infrastructure out of the Rockies, the proposed Pathfinder Pipeline project received a boost Monday as TransCanada Corp., affiliates of Enterprise Products Partners LP and Quicksilver Gas Services LP signed a memorandum of understanding (MOU) under which Enterprise and Quicksilver Gas Services would acquire up to an aggregate 50% ownership in the project and commit to ship a total of 500 MMcf/d for a 10-year term.