Infrastructure

PGNiG Inks Another Sempra Deal after Scrapping Texas SPA, Boosts LNG Offtake from Venture Global

PGNiG Inks Another Sempra Deal after Scrapping Texas SPA, Boosts LNG Offtake from Venture Global

Polish Oil and Gas Co., aka PGNiG, has scrapped one deal and signed another with U.S. developer Sempra related to North American liquefied natural gas (LNG) supply.  The memorandum of understanding (MOU) announced Tuesday was signed after PGNiG canceled a previous sale and purchase agreement (SPA) to buy 2 million metric tons/year (mmty) of LNG…

July 27, 2021
As Demand Further Strengthens, August Natural Gas Futures Extend Rally; Cash Prices Climb

As Demand Further Strengthens, August Natural Gas Futures Extend Rally; Cash Prices Climb

Natural gas futures on Monday advanced for a seventh consecutive session as robust domestic cooling demand and strong liquefied natural gas (LNG) export levels continued to drive up prices that are at their highest levels since 2018. The August Nymex contract advanced 4.2 cents day/day and settled at $4.102/MMBtu. The prompt month gained nearly 11%…

July 26, 2021
Restoration Proposed for ACP, SHP Lands May Avoid Significant Impacts, Says FERC Staff

Restoration Proposed for ACP, SHP Lands May Avoid Significant Impacts, Says FERC Staff

Projects to restore lands proposed by the sponsors of the scuttled Atlantic Coast Pipeline (ACP) and Supply Header Project (SHP) appear to avoid or reduce impacts to less than significant levels, FERC staff has determined. Dominion Energy and joint venture partner Duke Energy last year canceled the 600-mile, 1.5 Bcf/d ACP, designed to run from…

July 26, 2021
Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid

Inter Pipeline Scuttles Pembina Merger, Accepts $6.9B Brookfield Takeover Bid

Toronto-based Brookfield Infrastructure Partners LP won a prolonged takeover contest for Inter Pipeline Ltd. (IPL) in Calgary today after adding an all-cash option to its bid for shareholder support and raising the total offer to about C$8.6 billion ($6.9 billion). At a cost of a deal-breaking penalty of C$350 million ($280 million), IPL canceled a…

July 26, 2021
Energy Transfer Rapped by PHMSA over ‘Probable’ Safety Violations on DAPL

Energy Transfer Rapped by PHMSA over ‘Probable’ Safety Violations on DAPL

Midstream giant Energy Transfer LP said it is continuing work to correct alleged safety violations on its Dakota Access Pipeline (DAPL) after federal regulators warned last week it could face fines if the issues are not resolved. Energy Transfer told NGI’s Shale Daily on Monday that the notice issued last week by the Pipeline and…

July 26, 2021
Natural Gas Pipeline Capacity Release Trading Jumps, but Post-Covid Recovery Proving Unstable

Natural Gas Pipeline Capacity Release Trading Jumps, but Post-Covid Recovery Proving Unstable

In a sign that the energy industry’s recovery from Covid-19 remains choppy, monthly trading for natural gas pipeline capacity releases reversed course, soaring 178% in June, according to the latest figures from The Capacity Center. The jump was a massive improvement from May, when monthly transactions plunged 70% from April levels, the data services company’s…

July 25, 2021
CNX Resources Says E&P, Midstream Operations are Carbon Negative

CNX Resources Says E&P, Midstream Operations are Carbon Negative

Appalachian pure-play CNX Resources Corp. said Wednesday that it’s net carbon negative for Scope 1 and 2 emissions, stressing a “tangible” accomplishment at a time when its peers are advancing ambitious goals to cut environmental footprints in the future.  Announced along with the release of its corporate responsibility report, the company said it believes it’s…

July 24, 2021
Schlumberger Sees International Activity Leading Post-Covid Recovery, while North America Growth Moderates

Schlumberger Sees International Activity Leading Post-Covid Recovery, while North America Growth Moderates

The head of oilfield services (OFS) giant Schlumberger Ltd. said the company is “seizing the beginning of the upcycle,” with international activity expected to lead growth — and North America set to moderate — in the continued recovery from Covid-19. On the 2Q2021 earnings call with investors Friday, CEO Olivier Le Peuch said that while…

July 24, 2021
Weekly Natural Gas Prices Pop Amid Searing Summer Heat, Robust Demand

Weekly Natural Gas Prices Pop Amid Searing Summer Heat, Robust Demand

Weekly natural gas cash prices soared along with lofty temperatures and strong cooling demand throughout much of the Lower 48. NGI’s Weekly Spot Gas National Avg. for the July 19-23 period jumped 16.5 cents to $3.780. Hot high pressure created scorching conditions over much of the West and into the Plains, with highs of 90s…

July 23, 2021
COLUMN: CFE Emerging As Mexico’s De Facto Natural Gas System Operator

COLUMN: CFE Emerging As Mexico’s De Facto Natural Gas System Operator

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico’s natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. With the start of activity on the Sur de Texas-Tuxpan, La Laguna-Aguascalientes and Villa de Reyes-Aguascalientes-Guadalajara pipelines since December 2018, the government…

July 23, 2021