Spectra Energy Partners has become the sixth member of PennEast Pipeline Co. LLC. Spectra joins AGL Resources; NJR Pipeline Co., a subsidiary of New Jersey Resources; PSEG Power LLC; South Jersey Industries; and UGI Energy Services (UGIES), a subsidiary of UGI Corp. Spectra Energy Partners and PSEG Power each have a 10% interest in PennEast; the remaining member companies each have a 20% interest. UGIES is the project manager and will operate the pipeline. The 108-mile, 36-inch diameter PennEast is planned to transport 1 Bcf/d of gas from northeastern Pennsylvania to an interconnect with Transcontinental Gas Pipeline in Mercer County, NJ (see Shale Daily,Sept. 5;Aug. 12). “This project provides Spectra Energy Partners with a strategic opportunity to leverage our existing assets by directly connecting northeast Pennsylvania Marcellus Shale production to our Texas Eastern Transmission and Algonquin Gas Transmission systems, and allows us to further strengthen our relationship with some of our biggest customers,” said Bill Yardley, Spectra Energy president of U.S. transmission and storage.
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New England, Gulf Weakness Tug Quotes Lower; Futures Movin’ On Up
Gas for Wednesday delivery was widely mixed in Tuesday’s trading with a slight edge to the loss side of the ledger. Gains in the Mid-Atlantic, Marcellus and Midcontinent couldn’t offset super-sized declines in New England as well as weakness in the Gulf Coast and Rockies.
Chevron’s Permian Production Increasing Faster than Forecast
Chevron Corp.’s Permian Basin, and specifically the Midland and Delaware play, helped increase North American shale and tight resources production year/year by 23,000 b/d in the third quarter.
Prices Expected to Take Beating in Coming Gas-on-Gas War
The natural gas market has seen gas-on-gas competition before, but the mix-up coming between low-cost molecules from Appalachia with gas from liquids plays such as the Bakken Shale as well as the Permian and Anadarko basins will be something on a grand scale, according to a new analysis.
Industry Brief
Late Friday, a state judge in Louisiana ruled unconstitutional a bill passed earlier this year by lawmakers intended to block a mega-lawsuit against energy infrastructure companies for coastal wetlands damage. The lawsuit was brought by the Southeast Louisiana Flood Protection Authority-East (see Daily GPI, July 25, 2013).Judge Janice Clark said the law aimed at blocking the lawsuit failed, in part, because it violated the state constitution’s separation of powers clause as it sought to retroactively nullify an earlier court decision. Clark’s decision could be appealed to the state supreme court. Gov. Bobby Jindal and the Louisiana Oil & Gas Association (LOGA) support the legislation blocking the lawsuit. Jindal’s office did not respond to a request for comment Monday. LOGA said, “We have known that this case would be appealed to the First Circuit Court, and now to the Louisiana Supreme Court, for some time…We look forward to having our appeal heard at the appropriate time.” Before Clark’s ruling last Friday, two of the companies named in the lawsuit agreed to settle for $50,000 (see Daily GPI,Oct. 31).
BOEM Quadruples Estimate of Recoverable Reserves from Chukchi Leases
The Bureau of Ocean Energy Management (BOEM) has quadrupled its estimate for the amount of oil and gas recoverable from a Chukchi Sea lease sale that was held in 2008.
Bear Head Doubles Size of Nova Scotia LNG Project
Perth, Australia-based Liquefied Natural Gas Ltd.’s (LNG Ltd.) Bear Head LNG Corp. plans to double the capacity of its proposed natural gas liquefaction and export terminal on Cape Breton Island in Nova Scotia, to 8 million tonnes per annum (mtpa) from 4 mtpa.
EIA Says U.S. Produced, Consumed Record Levels of NatGas in 2013
The United States produced, consumed and delivered for consumption record levels of natural gas in 2013, and imports fell for the sixth consecutive year, according to an annualreport by the U.S. Energy Information Administration (EIA).
Philadelphia City Council Nixes Plan to Sell Philly Gas Works
The Philadelphia City Council, after what it called an “exhaustive review,” has ruled out a nearly $2 billion sale of the Philadelphia Gas Works (PGW) to Connecticut-based UIL Holdings Corp., announcing last week that it would forgo a vote on the matter and not introduce a bill to sell the city-owned utility.
Futures, Cash Trend in Opposite Directions; December Adds 17 Cents
Physical gas prices for Tuesday delivery fell hard in Monday’s trading as a warming trend was forecast for key eastern population centers.
