Shifting

If it’s a dry natural gas asset owned by EOG Resources Inc., chances are it could be for sale. In the low gas price era, the company is shifting its focus to oil as fast as it can.

Shifting Canadian natural gas supplies and the discovery of vast shale plays in Western Canada gave birth to NOVA Gas Transmission Ltd.’s (NGTL) plans to construct and operate the 48-mile Alberta-to-British Columbia Groundbirch Pipeline, which the National Energy Board (NEB) approved on Thursday.

Shifting Canadian natural gas supplies and the discovery of vast shale plays in Western Canada gave birth to NOVA Gas Transmission Ltd.’s (NGTL) plans to construct and operate the 48-mile Alberta-to-British Columbia Groundbirch Pipeline, which the National Energy Board (NEB) approved on Thursday.

Shifting Canadian natural gas supplies and the discovery of vast shale plays in Western Canada gave birth to NOVA Gas Transmission Ltd.’s (NGTL) plans to construct and operate the 48-mile Alberta-to-British Columbia Groundbirch Pipeline, which the National Energy Board (NEB) approved late last week.

It’s no secret that the natural gas industry is long on supply and, thanks to the recession, currently short on market. Complicating the picture are the shifting geography of supply sources as producers target unconventional basins, and pipeline capacity constraints, which are expected to periodically push prices down further and put a ceiling on high prices, the founder of Bentek Energy LLC said last Wednesday.

It’s no secret that the natural gas industry is long on supply and, thanks to the recession, currently short on market. Complicating the picture are the shifting geography of supply sources as producers target unconventional basins, and pipeline capacity constraints, which are expected to periodically push prices down further and put a ceiling on high prices, the founder of Bentek Energy LLC said Wednesday.

Increases in domestic production, new pipeline infrastructure and the shifting sources of imports will create a “bonanza” for natural gas buyers in the Northeast, according to Evergreen, CO-based Bentek Energy, which just released the third part of its three-part “Catch the Wave” report (see NGI, Jan. 19; Nov. 17, 2008) documenting changes to the region that has traditionally been the highest-priced North American market.

Increases in domestic production, new pipeline infrastructure and the shifting sources of imports will create a “bonanza” for natural gas buyers in the Northeast, according to Evergreen, CO-based Bentek Energy, which just released the third part of its three-part “Catch the Wave” report (see Daily GPI, Jan. 14; Nov. 14, 2008) documenting changes to the region that has traditionally been the highest-priced North American market.

Shifting global gas supply and demand fundamentals have moved Kitimat LNG Inc. to revise its plans for a liquefied natural gas (LNG) import terminal to instead construct an export terminal near Kitimat, British Columbia (BC), on the Bish Cove site where it had planned to construct the import facility.