natural gas data

Canada services giant SNC-Lavalin Group Inc. is merging with Kentz Corp. Ltd. to create a global tier one engineering and construction (E&C) firm with a bigger presence in key growth regions, including North America’s onshore, management said Monday.

Gas for delivery over the weekend and Monday plummeted as a 1-2 combination of a weak screen and modest temperatures gave buyers little incentive to spring for a three-day package, especially when spot purchases can be made by instant electronic communications. The selling was broad and pervasive and no point made it to the positive side of the trading ledger.

With the exception of a few eastern points, weekly physical gas prices posted mostly moderate advances at all locations. For the week ended June 20 the NGI’sWeekly Spot Gas Averagerose just a penny to $4.43 with outsize losses at Northeast points pulling down broad, but thin gains elsewhere.

The U.S. Supreme Court took away a small piece of the U.S. Environmental Protection Agency (EPA) permit program to control greenhouse gas (GHG) emissions from stationary sources such as power plants. The justices said EPA lacked authority in some cases to force companies to evaluate ways to reduce carbon dioxide emissions, a rule that is used in permitting expansions or new facilities that may increase carbon dioxide emissions. “EPA is getting almost everything it wanted in this case,” wrote Justice Antonin Scalia. EPA, he said, wanted to regulate 86% of all GHG emitted from plants across the country. Under the ruling, EPA would be able to regulate 83% of the emissions. Not affected by the high court’s ruling are some EPA proposals for new and existing power plants that would require, among other things, a 30% reduction in GHG emissions by 2030 (see Daily GPI, June 2). Those rules would not take effect for at least two years. Also preserved is EPA’s authority over facilities’ emissions that already are regulated, other than GHG.

The Downeast LNG import terminal, which has been long-planned for Washington County, ME, has come back to life as a bidirectional liquefied natural gas (LNG) import/export project, its backer said Friday.

Natural gas futures continued the recent trend of outsize market moves off of modest storage forecast misses by industry forecasters.

Physical gas for Friday delivery fell hard and fell often as traders worked hard to accommodate a more normal weather environment and get deals done before the release of government storage figures.

The Dodd-Frank Wall Street Reform and Consumer Protection Act got some things right, and the industry has largely adapted to the new provisions, but there are still some parts of the new law that could use some tweaking, according to Matthew Picardi, vice president for regulatory affairs at Shell Energy North America.

Ten West Texas counties in the heart of the Permian Basin will produce $20.5 billion in economic output in 2022 — eight years from now — according to the University of Texas at San Antonio (UTSA) Institute for Economic Development.