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Oneok Looking to Add More Natural Gas Storage After Historic Freeze, with Bakken Momentum into 2022

Oneok Looking to Add More Natural Gas Storage After Historic Freeze, with Bakken Momentum into 2022

Harping on the need for storage to meet critical demand during Winter Storm Uri, Oneok Gas Transmission is gauging market interest in more than 1 Bcf of incremental firm storage capacity at its West Texas natural gas storage facilities. Management for the Oklahoma midstream company said the natural gas pipelines segment fetched $105 million in…

May 12, 2021
Argentina LNG Export Ambitions Said Unlikely to Materialize Before 2030

Argentina LNG Export Ambitions Said Unlikely to Materialize Before 2030

Argentina is unlikely to develop serious liquified natural gas (LNG) export capacity this decade because of the current political and economic unpredictability, researchers at the country’s Austral University and the UK’s Oxford Institute for Energy Studies said recently. However, while “Argentina might not become a relevant LNG exporter in this decade,” the country “will continue…

May 12, 2021
Pembina Sees Natural Gas, Oil, NGL Export Projects Driving Upstream Growth in Western Canada

Pembina Sees Natural Gas, Oil, NGL Export Projects Driving Upstream Growth in Western Canada

Western Canada-focused Pembina Pipeline Corp. painted a rosy outlook in its first quarter earnings report for a Canadian industry-wide recovery amid improving commodity prices, with volumes from the Montney Shale and the Duvernay formation expected to grow. “Over the past few quarters, across both the pipelines and facilities divisions, we have seen steady increases in…

May 12, 2021
LNG Exports Help Drive Up EIA’s U.S. Natural Gas Prices Forecast

LNG Exports Help Drive Up EIA’s U.S. Natural Gas Prices Forecast

On the strength of exports and domestic consumption, natural gas spot prices at Henry Hub are expected to average $2.78/MMBtu in the second quarter and $3.05 for 2021 overall, the U.S. Energy Information Administration (EIA) said Tuesday. The updated projections, published in the May edition of the agency’s Short-Term Energy Outlook, represent a modest increase…

May 12, 2021
Pricier Natural Gas to Generate Less U.S. Power This Summer, EIA Says

Pricier Natural Gas to Generate Less U.S. Power This Summer, EIA Says

Coinciding with higher natural gas prices, the share of U.S. electricity generation powered by gas is set to decline this summer compared to last, the Energy Information Administration (EIA) said in research published this week. In its Summer Electricity Outlook, released as a supplement to the May Short-Term Energy Outlook, EIA said it expects natural…

May 12, 2021
With Exports Strong, June Natural Gas Futures Bounce Back

With Exports Strong, June Natural Gas Futures Bounce Back

Liquefied natural gas volumes again topped 11 Bcf European and Asian demand for U.S. exports is strong Forecasters expect a hot summer ahead Natural gas futures on Tuesday bounced back from the prior session’s losses, as export demand and other key fundamentals held strong, while a critical oil pipeline signaled it could restore operations this…

May 12, 2021
NW Natural’s Management of Oregon NatGas Reduced Extra Costs During Winter Freeze

NW Natural’s Management of Oregon NatGas Reduced Extra Costs During Winter Freeze

Portland, OR-based NW Natural finessed its natural gas supply and storage operations to avoid excessive extra costs during February, which helped lift first quarter profits by more than 20%, the CEO said last week. “During a widespread freeze in Oregon in February, our teams successfully managed gas operations to mitigate impacts on customers,” CEO David…

May 12, 2021
Canada Invokes U.S. Treaty to Keep Enbridge Line 5 in Operation

Canada Invokes U.S. Treaty to Keep Enbridge Line 5 in Operation

The Canadian government on Tuesday invoked a 1977 treaty in a U.S. court to save Enbridge Inc.’s disputed Line 5 oil pipeline from a demand by Michigan’s top officials to shut down service on Wednesday. The 540,000 b/d system is scheduled to be shut down at the Straits of Mackinac crossing between Lake Michigan and…

May 12, 2021
Temperature Outlook Seen Little Changed as Natural Gas Futures Close to Even Early

Temperature Outlook Seen Little Changed as Natural Gas Futures Close to Even Early

Natural gas futures hovered close to unchanged in early trading Wednesday as updated forecasts continued to withhold definitive signs of the start of summer heat. After trading both sides of even in the early morning hours, the June Nymex contract was up 0.6 cents to $2.961/MMBtu at around 8:45 a.m. ET. The weather outlook underwent…

May 12, 2021
June Natural Gas Futures Reverse Course, Climb with Exports Steady, Cyberattack Resolution in View

June Natural Gas Futures Reverse Course, Climb with Exports Steady, Cyberattack Resolution in View

Natural gas futures on Tuesday bounced back from the prior session’s losses, as export demand and other key fundamentals held strong, while a critical oil pipeline signaled it could restore operations this week following a ransomware attack. The June Nymex contract advanced 2.3 cents day/day and settled at $2.955/MMBtu. July gained 2.1 cents to $2.999.…

May 11, 2021