Price

With proper regulation, greenhouse gas (GHG) emissions from shale gas operations should represent only a small part of the total carbon footprint of shale gas and would fall within the nontraded sector of the United Kingdom’s carbon budgets, according to the Department of Energy & Climate Change (DECC).

Ministers from Japan and India meeting in Tokyo Monday agreed for the liquefied natural gas (LNG)-consuming countries to work together to secure what they believe would be more equitable pricing for supplies.

Natural gas prices for Friday delivery overall on average shed a penny Thursday. Traders generally elected to get their deals done before the typically volatile futures trading associated with the release of morning storage report.

Natural gas cash values pushed higher again Tuesday for Wednesday delivery, with gains in the East recording the largest increases as the return of summer heat after weeks of below-normal temperatures sparked gas demand. After exploring gains in morning trading with a high of $3.500, the September natural gas futures contract retreated in the afternoon to close at $3.444, down 1.9 cents from Monday’s regular session close.

Natural gas for physical delivery Tuesday overall on average surged 18 cents as traders had to adjust to a changed weather outlook, a firm power pricing environment, and a strong screen. East and Northeast locations led the charge higher, but no delivery point was left unscathed by the tempest of soaring prices. Futures reached the highest point in 3 weeks, and at the close of futures trading September had risen 9.5 cents to $3.463 and October was higher by 9.4 cents to $3.487. September crude oil eased 36 cents to $107.10/bbl.

U.S. natural gas prices have teased traders this year after the price surge in the spring, but a “more durable problem” remains, according to Stephen Smith Energy Associates.

Demand between now and 2015 will prop up natural gas prices, even with a backlog of drilled wells awaiting connection, and from 2016 to 2018 a “dramatic structural increase” in demand could outpace supply additions and send gas prices to as high as $6.00/MMBtu, BNP Paribas’ Teri Viswanath, director of commodity strategy, said Friday.

The Muskingum Watershed Conservancy District (MWCD) has agreed to sell more water to Antero Resources for oil and gas drilling in the Utica Shale.

Salt Lake City, UT-based Savage, a supply chain solutions company, on Tuesday introduced bulk material handling and rail transloading services at the Ohio Commerce Center (OCC) in Lordstown, OH.