Even with their plans stalled for importing liquefied natural gas (LNG) along the Pacific Northwest coast, the backers of the limited partnership behind the Jordan Cove LNG project at Coos Bay, OR, said Wednesday they have purchased the project’s 200-acre Ingram Yard site from Weyerhaeuser NR Co., which carries with it an option to acquire an additional 120 acres for the eventual development of a gas-fired electric generation plant.
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Industry Brief
As the Pacific Northwest’s dominant energy player, the federal Bonneville Power Administration (BPA) has adopted what it described as a landmark settlement on a residential exchange program that it hopes will end years of dispute over how BPA makes low-cost hydroelectric supplies available to small residential and farm customers of investor-owned utilities (IOU). Given the criticism of BPA for shunning natural gas and wind power generators in the face of abundant water supplies this spring and summer, the federal power behemoth is hoping it has a win-win, noting that the deal has the backing of six regional IOUs, three state regulatory commissions, and most public-sector utilities representing 88% of BPA’s customers and 93% of the power consumed in the region. Under the settlement, IOU customers are in line to get about $3.3 billion in payments during a 17-year period, beginning at $182.1 million in fiscal 2012 and increasing to $286.1 million by fiscal 2028.
Duration of Hydro Continues to Cut Northwest Gas Use
As record water levels continue over an extended time period this year in the Pacific Northwest, the hydrolectric season has stretched into an eight-month-long period, producing a similarly long period in which natural gas-fired generation plants remain mostly idle, according to the most recent statistics from the U.S. Energy Information Administration (EIA).
Prices Rise Modestly at Nearly All Locations
Relatively moderate heat levels in the Mid-South and Northeast, along with mild to cool forecasts for Canada, the Pacific Northwest and sections of the Midwest, failed to prevent a large majority of locations from realizing small price gains Tuesday. However, inland California was beginning to join much of the desert Southwest in anticipating highs ranging from the mid 90s to more than 110, and the Rockies — while still fairly moderate — had predicted peak temperatures start to climb into the low 80s.
FERC Closed Due to Power Outage
More than 1,500 customers in Northeast Washington, DC, including FERC, and some customers in the Northwest section of the city were without power Wednesday due to a heat wave. Utility provider Pepco said it expected power to the affected area to be restored by midnight, but it was unclear whether the Federal Energy Regulatory Commission (FERC) would be open Thursday.
Crestwood Buys Midstream Assets in Fayetteville, Granite Wash
Privately held Crestwood Midstream Partners LP has completed its acquisition of midstream assets in the Fayetteville Shale in northwest Arkansas and the Granite Wash play in the Texas Panhandle, the Houston-based company said. The deal was announced in February.
Crestwood Buys Midstream Assets in Fayetteville, Granite Wash
Privately held Crestwood Midstream Partners LP has completed its acquisition of midstream assets in the Fayetteville Shale in northwest Arkansas and the Granite Wash play in the Texas Panhandle, the Houston-based company said. The deal was announced in February.
Coordinated Review of Pennsylvania Gas Blasts Urged
Following two home explosions in a rural area of northwest Pennsylvania within three months of each other, Sen. Bob Casey (D-PA) last Monday called on Department of Energy (DOE) Secretary Steven Chu to coordinate efforts and the sharing of information with local authorities, the Pennsylvania Department of Environmental Protection (DEP) and the U.S. Environmental Protection Agency to protect the public from risks associated with the development of shale gas in the Marcellus and Utica plays.
Losses Dominate Mixed, Mostly Near-Flat Prices
April began Friday with fairly heavy snowfalls in upper New England, the eastern Midwest and even parts of the Pacific Northwest, according to The Weather Channel (TWC). But with warming trends due over the weekend, the belief that wintry weather was on its last legs except for remaining subfreezing patches in Canada resulted in softness being slightly dominant in a mixed cash market that was mostly flat or close to it.
Casey Calls for Federal Aid in Reviewing Pennsylvania Gas Blasts
Following two home explosions in a rural area of northwest Pennsylvania within three months of each other, Sen. Bob Casey (D-PA) Monday called for federal help to protect the public from risks associated with the development of shale gas in the Marcellus and Utica plays.