The Panama Canal Authority is exploring the potential to add a liquefied natural gas (LNG) infrastructure at the canal to take advantage of the anticipated LNG tanker traffic once the canal’s expansion project is completed next year. The U.S. Trade and Development Agency (USTDA) has issued a grant to support the study of the benefits of LNG infrastructure at the canal USTDA said last week. “As we near the completion of the Panama Canal Expansion, we are eager to explore new segments such as LNG, which are now possible given our enhanced capacity to accommodate longer and wider ships. This grant by the USTDA will build on plans and projects related to LNG that are already ongoing and will present us with the ability to evaluate additional market opportunities and client services for the benefit of the U.S.-Panama energy trade,” said Canal Administrator Jorge Quijano. The USTDA-funded feasibility study will help the ACP set priorities and plan projects related to LNG infrastructure and natural gas utilization at the Panama Canal. The LNG terminal is anticipated to support the implementation of maritime- and energy-related projects that will accommodate increased shipping traffic through the expanded canal (see Daily GPI,Jan. 9).
Tag / natural gas prices
Subscribenatural gas prices
Articles from natural gas prices
People — RRC Executive Director
Railroad Commission of Texas (RRC) Executive Director Milton Rister plans to leave the commission on Aug. 31, he told RRC commissioners in a letter Wednesday. He has been in the position for nearly three years. Rister was appointed in 2012 after serving in former Texas Gov. Rick Perry’s office, where he was director for administration since 2010 (see Daily GPI,Sept. 12, 2012). “The Railroad Commission will immediately begin a nationwide search for a new executive director,” RRC Chairman David Porter said. “This search will focus on a candidate with strong leadership capabilities and technical expertise, so that we may continue building on our legacy as the nation’s preeminent energy regulatory agency. I want to thank Milton for his service and wish him the best in the future.”
Briefs — NGL Energy Partners, Spectra Energy
NGL Energy Partners LP and Meritage Midstream Services II LLC are forming a joint venture (JV) to develop crude oil gathering and water services infrastructure to serve oil and gas producers in Wyoming’s Powder River Basin. The JV will focus on crude oil and wastewater gathering pipelines, pipeline injection terminals, wastewater and solid waste disposal facilities, and fresh water supply. The JV would have access to and operate on Meritage’s dedicated acreage in the Powder River Basin. NGL and Meritage are also committed to exploring pipeline connectivity options from the Powder River. The partners plan to evaluate the use of NGL’s regional assets to capture marketing capabilities at both Cushing and the Gulf Coast markets.
Sumas NatGas Forward Price Weakness Continues Despite Record Power Burn
While the majority of natural gas markets saw forwards prices follow the Nymex higher from Monday June 22 through Thursday June 25, one key western hub softened a bit, despite strong demand in the region due to weak hydro output.
Brief — Western Governors Association
The Western Governors Association (WGA) on Thursday passed a resolution to expand the use of carbon dioxide (CO2) injections in enhanced oil recovery (EOR) throughout the western oil/natural gas production fields as one of five WGA resolutions passed at the group’s annual meeting in Incline Village, NV (June 24-26). WGA is seeking to have Congress and the Obama administration provide federal incentives to increase CO2 supplies available to the oil industry to purchase and use in EOR, along with supporting efforts to promote wider awareness of the benefits of CO2 in EOR. The group’s other resolutions focused on surface transportation to western ports, water resources management, agriculture, and national nonfuel minerals/mining policy.
People — RRC Executive Director
A. Glenn Patterson, 68, who was one of the founders of Patterson-UTI Energy Inc. (PTEN), has died. Patterson served as president and COO of the Houston company from 1978 until he retired in May 2006 and was considered instrumental in growing a one-rig drilling company into one of the largest oilfield services contractors in the world. After graduating in Texas from San Angelo State University with a bachelor of science degree, he taught high school and refereed basketball in San Antonio. In 1978 Patterson founded Patterson Drilling Co. with brother-in-law Cloyce Talbott, who served as CEO. The company went public in 1993 and merged with UTI Drilling in 2001. “Glenn was a charismatic leader, company-builder and friend to all who knew him,” PTEN Chairman Mark S. Siegel said. “He was universally respected both within our company and in our industry.” Patterson is survived by his wife Janeen Patterson, as well as two sons and their wives, and five grandchildren.
Weekly Natgas Bears Stirring; Futures And Physical Prices Weaken
Ahead of the holiday-shortened July 4 trading week, traders found physical natural gas prices slip-slidin’ away as cash prices could get little help from the screen and weather forecasts proved stubbornly uncooperative.
Briefs — Cascade Natural Gas, Marabou Superior Pipeline, Panama Canal, NGL Energy Partners, Spectra Energy
Washington state regulators have imposed a $275,000 penalty onCascade Natural Gas Corp.and ordered the Kennewick, WA-based utility to issue more than $190,000 in refunds to customers for improper billing practices. Washington’sUtilities and Transportation Commission(UTC) approved a settlement following a staff investigation that revealed Cascade had violated state laws and rules related to calculating and assessing late-payment charges. Based on the settlement, Cascade will refund $192,258 to customers who were improperly charged between June 1, 2012 and Dec. 31, 2013, in addition to paying the penalty.
Oilfield Services Quarterly Outlook Appears Grim
Houston-based Oil States International Inc. has reduced second quarter guidance for the U.S.-focused well site services segment following a huge fall-off in business, an indication of continued bad news for the North American oilfield services (OFS) sector.
Briefs — Gastar, RRC, Petroluem News
Gastar Exploration Inc. said the closing of its sale of 19,000 noncore assets in Oklahoma has been delayed until July 6. The company said in May that the $46.2 million sale to an undisclosed privately-held company would close this month (see Shale Daily,May 8). Gastar said the buyer has made a non-refundable $6.6 million deposit for the natural gas assets in Kingfisher County, OK. Gastar has recently switched its focus to the liquids-rich Hunton Limestone oil play in the state.
