Track

After a four-month setback, Canadian natural gas exports are back on the growth track that set 14 annual sales records until the “continental market” took a turn downward last winter. Exporters turned the corner in March, according to records kept on the trade with the United States by the National Energy Board.

On track to build a global natural gas business to complement its oil operations, ChevronTexaco Corp.’s executive team on Wednesday laid out an ambitious plan to grow its natural gas business by mid-decade with more core exploration and more development of its substantial reserves that will include, among other things, liquefied natural gas (LNG) regasification terminals along the West Coast and East Coast, as well as expanded exploration and production in shelf and deepwater Gulf of Mexico prospects.

The arrival of a new parent with deep pockets made an immediate difference to Westcoast Energy’s pipeline system in the western Canadian natural gas drilling hot spot of British Columbia. The ink was barely dry on the final agreement for the US$8 billion purchase of Westcoast by Duke Energy Corp. before the newly-appointed president of the resulting Duke Energy Gas Transmission Canada, Bob Reid, gave the green light for a C$338.4 million (US$215 million) expansion project.

The Alaska Highway natural gas pipeline project, which was on the fast track about a year ago as natural gas prices rose, got another boost on Thursday with the signing of a memorandum of understanding (MOU) between six major American energy companies and three Canadian firms. The companies plan to “immediately” develop a proposal to transport Alaska’s North Slope gas, with plans to deliver a proposal to North Slope producers within six weeks.

The Alaska Highway natural gas pipeline project, which was on the fast track about a year ago as natural gas prices rose, got another boost on Thursday with the signing of a memorandum of understanding (MOU) between six major American energy companies and three Canadian firms. The companies plan to “immediately” develop a proposal to transport Alaska’s North Slope gas, with plans to deliver a proposal to North Slope producers within six weeks.

Interior Secretary Gale Norton has dashed any industry hopes that the Bush administration might consider restoring the pared-down eastern Gulf of Mexico Lease Sale 181 to its original larger size in the wake of the Sept. 11 terrorist attacks on the nation.

Interior Secretary Gale Norton on Friday dashed any industry hopes that the Bush administration might consider restoring the pared-down eastern Gulf of Mexico Lease Sale 181 to its original larger size in the wake of the Sept. 11 terrorist attacks on the nation.

With El Paso hot on its heels with a new offshore Atlantic pipeline proposal, Maritimes & Northeast Pipeline (Maritimes) is fast collecting market requests for expansion capacity. It said last week it received nominations for 1.7 Bcf/d of new transportation capacity on the Canadian portion of its pipeline system and 1.3 Bcf/d on the U.S. portion in an open season for its proposed $380 million Phase IV expansion project.

Even though overall operations are performing well, with oil and gas production on track to be up 5% over 2000 and development projects on schedule, producer Kerr-McGee Corp. said Friday that uncontrollable outside events — mostly within its chemicals division — will push down projected third quarter earnings, which will be released in one month.