Iroquois

Canadian natural gas is becoming more economic to bring into New England and New York, and more of it could be needed as efforts to ship Appalachian supplies into the region have fallen short in the face of political resistance, according to an Iroquois Gas Transmission System LP executive.

Consolidated Edison Co. (Con Ed) on Thursday said it had inked another deal with Iroquois Gas Transmission System LP to get more natural gas into its New York service territory.

A new eastern path will open for Canadian imports of shale gas from the United States — potentially straight to the national capital, Ottawa — as a result of a pipeline direction switch approved by the National Energy Board (NEB).

Calling for a “pragmatic, positive” solution, the new chairman of the Interstate Natural Gas Association of America (INGAA) said the organization needs to help redirect the current fuels debate, between environmentalists on one side and coal and nuclear energy supporters on the other.

Most natural gas traders laid low Thursday and got their deals done ahead of the release of often volatility-inducing inventory figures from the Energy Information Administration (EIA). It was a mixed market with gains in the Northeast and Appalachia unable to offset broader losses in the Midwest, Midcontinent, Rockies, and California.

FERC approved two separate uncontested settlements Thursday, bringing an end to investigations begun early this year into whether a pair of interstate natural gas pipelines set unreasonable rates to recoup costs.

Iroquois Gas Transmission System LP filed a settlement offer with FERC on Thursday, agreeing to lower its rates for shippers in three phases over the next two years and promising not to raise them through August 2020.

Dominion Midstream Partners LP has agreed to acquire the 25.93% interest in Iroquois Gas Transmission System LP owned by utilities National Grid plc and New Jersey Resources Corp. in an all stock deal valued at $286.5 million.

Physical gas for Wednesday delivery was mostly lower Tuesday as benign eastern weather lent a soft touch to the market. A few Northeast points advanced as pipeline restrictions continued, but next-day power forecasts called for moderate increases in load, and next-day peak power rose slightly.