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Repsol last week brought online the first liquefied natural gas (LNG) liquefaction plant in South America in Pampas Melchorita, about 105 miles south of Lima, Peru. The plant, which is part of the Peru LNG project, represents an investment of US$3.8 billion, the biggest investment ever made in one project in the history of Peru, according to Repsol.

Henry Hub natural gas spot prices should average $4.44/MMBtu in 2010, up 49 cents from 2009’s price, but well below the $5.17 average gas price projected in March, the Energy Information Administration (EIA) said last week in its April Short-Term Energy and Summer Fuels Outlook.

Although no new nuclear power plants have come online in the United States since 1996, capacity continues to grow incrementally as operators refurbish existing units and minimize refueling outages. The additional capacity impacts gas-fired generating units as they typically are the marginal source of power, analysts at Barclays Capital noted.

Although no new nuclear power plants have come online in the United States since 1996, capacity continues to grow incrementally as operators refurbish existing units and minimize refueling outages. The additional capacity impacts gas-fired generating units as they typically are the marginal source of power, analysts at Barclays Capital noted.

The greatest amount of liquefied natural gas (LNG) regasification capacity being added worldwide this year is coming online in North America — where it’s needed least, according to analysts at Barclays Capital. Meanwhile, LNG cargo takes by Asian countries are poised for growth next year while some Asian countries will find their regasification capacity to be wanting.

News that Mexico’s government is serious about a second liquefied natural gas (LNG) receiving terminal on its western coast is roiling the global LNG trade and giving heartburn to global industrial/energy giants as supplies are scarce.

A new inventory of natural gas and oil on 99 million acres of federal land in 11 major geographic areas of the United States found that only 13% of the gas and 3% of the oil resources are recoverable under standard leasing terms, such as minimizing impacts on environmental and cultural resources.

A new inventory of natural gas and oil on 99 million acres of federal land in 11 major geographic areas of the United States found that only 13% of the gas and 3% of the oil resources are recoverable under standard leasing terms, such as minimizing impacts on environmental and cultural resources.

During a month that saw high volatility, Atlanta-based IntercontinentalExchange (ICE) reported record activity on its online marketplace during the month of August. Average daily volume (ADV) for ICE futures, its London-based regulated futures subsidiary, totaled 406,037 contracts for an eighth consecutive monthly record, an increase of 115.1% over August 2005’s 188,757 contracts.