With domestic natural gas production reaching an “unprecedented” level, net imports of gas into the United States in 2012 fell 23% while total gas exports increased about 8%, according to the U.S. Energy Information Administration (EIA).
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With solid second quarter results in the books, Encana Corp. is taking a look at its entire North American portfolio and has begun putting a “new emphasis on our portfolio of emerging liquids plays,” newly installed CEO Doug Suttles told investors last week.
Sabal Trail Transmission LLC, a joint venture of Spectra Energy and NextEra Energy Inc., has been named the winning bidder to build a 465-mile interstate natural gas pipeline project by Florida Power & Light (FPL) to provide transportation services for its power generations needs beginning in May 2017. FPL, the largest power company in the state, put out the request for proposals for a new pipeline in December. Sabal Trail would have an estimated price tag of $3 billion and originate in Tallapoosa County, AL, extend through Georgia and terminate at the Central Florida Hub near Orlando (see NGI, July 8). Through a capacity lease with Transcontinental Gas Pipe Line (Transco), natural gas supply would be accessed at Transco’s Station 85 in Choctaw County, AL. The pipeline, when completed, would have the capacity to transport more than 1 Bcf/d to serve local distribution companies, industrial users and natural gas-fired power generators. According to the Energy Information Administration, Florida generates 62% of its power from 1.1 Tcf of natural gas.
After gaining access earlier this year to a big bundle of onshore and offshore opportunities in the United States, Freeport-McMoRan Copper & Gold Inc. now is reworking its strategy to relieve the cost burden and increase production, top executives said last week.
Last year, natural gas-fueled plants accounted for 57% of the generating capacity in the Electric Reliability Council of Texas (ERCOT) and more than 44% of energy use. As the reliance on gas-fired power grows, ERCOT is working with other organizations to protect against and prepare for a large-scale system-wide blackout.
A lawsuit filed last week against pipeline companies in Louisiana by the Southeast Louisiana Flood Protection Authority-East (SLFPA-E) is an example of a state agency and its lawyers looking for a big payout, the head of the Louisiana Oil and Gas Association (LOGA) told NGI Wednesday. A lawyer for the plaintiff, however, said his client only wants the pipelines to do their share of the work in restoring protections for the state’s coast.
Members of a panel testifying at a hearing of a Senate Banking, Housing and Urban Affairs subcommittee last week warned that allowing global conglomerates to own multiple pieces of the production and marketing chain for any commodity, including oil and natural gas, while simultaneously also speculating on the price of those commodities, opens the door to potential manipulation of prices.
The capacity of underground natural gas storage facilities increased by about 2% from November 2011 to November 2012, the Energy Information Administration (EIA) said in a new report. The increase was seen in both demonstrated maximum and design capacities.
George Phydias Mitchell, 94, who is credited with pioneering unconventional drilling techniques that have opened up North America’s natural gas and oil potential, died Friday at his home in Galveston, TX.