Canadian leaders are vowing to rescue TC Energy Corp.’s Keystone XL (KXL) — or sue for damages — from a plan for incoming President Biden to cancel the U.S. presidential permit for the $8 billion oil export pipeline project. KXL stands out as an 830,000 b/d growth enabler for Canada’s top natural gas user, Alberta…
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North American Natural Gas Hard Hit by Covid-19, but Robust Growth Seen Through 2040
North American natural gas production bore the brunt of the Covid-19 pandemic’s impact on global gas output in 2020, but demand fared better in the lower price environment. In its Gas Year 2020 review, Rystad Energy said North American gas production is estimated to have fallen 47 billion cubic meters (bcm) from 2019 levels to…

February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall
In a third consecutive day of topsy-turvy trading, natural gas futures ultimately finished firmly in negative territory, as markets fixated more on shifting weather patterns than a bullish storage report and rising U.S. liquefied natural gas (LNG) volumes. The February Nymex gas futures contract settled at $2.666/MMBtu, down 6.1 cents day/day. March fell 5.9 cents…

Perfect Storm Driving Meteoric Rise in Asian LNG Prices Could Happen Again
James Waddell, a senior global gas analyst at London-based Energy Aspects, said severe cold, production outages, shipping constraints and a scramble to find supplies are just a few of the myriad factors that have blown into the perfect storm behind a meteoric rise in Asian liquefied natural gas (LNG) prices. As the historic rally continues,…

Ontario Energy Board Looks to Close Gaps in Natural Gas Distribution Networks
Up to 44,000 potential customers qualify for an Ontario subsidy program created to cover costs of natural gas service expansions, says the Canadian province’s utility regulator. The Ontario Energy Board (OEB) identified the aid candidates with a review of regional gaps in natural gas distribution networks. The inquiry generated a list of 210 eligible projects.…

Shell to Write Down Assets for Third Time This Year
Royal Dutch Shell plc expects to write down between $3.5 billion to $4.5 billion during the fourth quarter because of impairments, asset restructuring and onerous contracts. It would be the third time this year the Anglo-Dutch supermajor has written down assets. In a fourth quarter update, Shell said it expects to take a partial impairment…

Shell Streamlines Portfolio with Minority Stake Sale in Australian LNG Facility
Royal Dutch Shell plc is simplifying its portfolio with an agreement to sell a minority interest in the Queensland Curtis liquefied natural gas (QCLNG) common facilities to Global Infrastructure Partners Australia for $2.5 billion. Shell subsidiary QGC Common Facilities Company Pty Ltd. is selling a 26.25% stake in the QCLNG facility, which includes LNG storage…

LNG Could Drive $11 Billion of Australian Natural Gas Project FIDs in 2021, Says Wood Mackenzie
As the pandemic eases and the global economy recovers, $11 billion of Australian natural gas projects could be sanctioned as soon as next year, according to a report released this month by consultancy Wood Mackenzie. The country has helped drive growth in global liquefied natural gas (LNG) supplies in recent years and exports are expected…

In Nod to Shareholders, ExxonMobil Aims to Slash GHG Emissions by Double-Digits
ExxonMobil on Monday announced more ambitious goals to reduce greenhouse gas (GHG) emissions over the next five years only a week after a group of shareholders called for an overhaul of strategic goals. The Irving, TX-based supermajor also expects to meet a 2020 forecast set two years ago to cut global methane emissions by 15%…

Reliance, BP Ramp Up First of Three Massive Natural Gas Fields Offshore India
BP plc and Reliance Industries Ltd. have ramped up production from the first of a trio of ultra-deepwater natural gas fields offshore India that could meet the country’s rapidly expanding energy needs and reduce the need for imports. The R Cluster project in Block KG D6 is about 60 kilometers (37 miles) off the east…