natural gas

Physical gas for Friday delivery continued to weaken in Thursday trading as low power demand proved pervasive throughout key eastern population centers and weather forecasts continued to hover near seasonal norms.

Natural gas futures rose modestly following the release of government storage figures that were somewhat less than what traders were expecting.

The production of natural gas liquids (NGL) in the Permian Basin will take off over the next several years as producers shift focus to liquids-rich shale plays and midstream companies follow their lead and build the necessary infrastructure to process and transport the liquids, according to an executive with Genscape Inc.

The demand for propane is expected to be, on average, 100,000 b/d lower in 2014 compared to 2013 due to reduced demand from petrochemical plants, according to the U.S. Energy Information Administration (EIA).

Natural Gas Vehicles for America (NGVAmerica), a Washington, DC-based trade group promoting all forms of natural gas-powered vehicles, named Matthew Godlewski president. He succeeds Rich Kolodziej, who had served as president of the organization since 1996. Early this year, Kolodziej said he would be retiring. Godlewski comes from the Washington, DC-based Alliance of Automobile Manufacturers, where he was vice president for state affairs. Prior to that he worked in the wine and spirits industry as a state/federal policy director. He will start heading NGVAmerica in mid-October. Godlewski is a graduate of Michigan State University.

FERC has issued the final environmental impact statement (FEIS) for Cheniere Energy Inc.’s planned Corpus Christi, TX, liquefied natural gas (LNG) export terminal. There are no insurmountable environmental obstacles to the project, Commission staff found.

The prospect for substantial U.S. liquefied natural gas (LNG) exports and additional pipeline supplies being exported to Mexico raises questions about pricing mechanisms and the role of the Henry Hub, but it is still too early to determine what role, if any, Henry will have south of the border, an energy consultant with ICF International said Tuesday in Los Angeles.

Global oil reserves last year were 0.4% higher year/year, while natural gas reserves jumped 1.7%, thanks mainly to U.S. onshore plays and discoveries in East Africa, according to 13th edition of Eni SpA’s World Oil and Gas Review.

The four-well Stewart Winland pad, operated by Magnum Hunter Resources Corp. and home to the best Utica Shale well yet tested in West Virginia, remains shut in nearly a month after it first flowed at a peak rate of 46.5 MMcf/d in a symbol of some of the broader challenges facing operators in the Appalachian Basin.