natural gas prices

The more attractive price of natural gas on an MMBtu basis compared to oil is leading to the increased use of gas at the expense of oil and is one of the factors leading to the downturn in oil prices worldwide, a trend that is likely to continue for the next decade or two, according to a Stanford University economist.

April bidweek prices were slam-dunked as all actively traded points experienced losses. TheNGI National Bidweek Average came in at $2.35, down a whopping 75 cents m/m, and $2.08 y/y. The only point to show a month-over-month gain was Dominion North, whose 13-cent increase still left it at just $1.44.

Sunoco Logistics Partners LP confirmed that a contract employee was killed on Monday during work to convert the Marcus Hook industrial complex near Philadelphia into a natural gas liquids (NGL) terminal.

Williams Partners’ Transcontinental Gas Pipeline (Transco) has filed at FERC for its 1.7 Bcf/d Atlantic Sunrise expansion, which would deliver Marcellus Shale gas to Mid-Atlantic and southeastern markets.

Michael A. Creel, CEO of Enterprise Products Partners LP’s general partner, plans to retire Dec. 31. COO A.J. “Jim” Teague is to become CEO at that time. Teague has served as a director of Enterprise’s general partner since 2008 and as COO since 2010. He joined Enterprise in 1999 and is a retiree of The Dow Chemical Co. W. Randall Fowler has been elected chief administrative officer effective April 1. He has served as a director of Enterprise’s general partner since 2011 and as Enterprise’s executive vice president and CFO since 2007. Bryan F. Bulawa has been elected senior vice president and CFO effective April 1. He has served as Enterprise’s senior vice president and treasurer since 2009. Christian M. “Chris” Nelly has been elected vice president and treasurer effective April 1. He has served as senior director of finance since 2011.

Trading for next-day gas Tuesday was highly skewed, with multi-dollar losses at some New England points contrasting sharply with gains of a few pennies at most market points. Overall, the market was down 4 cents to $2.52, but take away just three stout losses in the Northeast, and the average market change was a penny higher.

Preserving liquidity has become the name of the game, as U.S. exploration and production (E&P) companies continue to look for ways to remain viable in the current oil/gas price downturn.

The Pennsylvania Department of Environmental Protection (DEP) has completed its review of a 715-page air quality permit application submitted by Shell Chemical Appalachia LLC for a proposed multi-billion dollar ethane cracker, and the agency is one step closer to approving it, pending a public comment period.

The NEXUS Gas Transmission system, backed by Spectra Energy Corp., DTE Energy and Enbridge Inc., is facing increasing opposition in Ohio, and one city has asked FERC to require part of the pipeline be rerouted.