NGI The Weekly Gas Market Report

Mother Nature delivered a gut punch to the natural gas market, pulling back on projections for a polar vortex to descend into the Lower 48 by the end of the month. The frigid forecast was seen as the missing link in an otherwise solidly supported market. Natural gas forward prices responded with sharp decreases in…

Oilfield equipment expert NOV Inc. warned Tuesday that fourth quarter earnings would be below guidance as stronger North American activity levels were not enough to overcome a softer international market. On a consolidated basis, NOV expects to report quarterly revenue of $1.33 billion and an operating loss of $327 million.  “While rising North American activity…

Kinder Morgan Inc. (KMI) continued to improve its balance sheet in the final three months of 2020, but the company is toeing the line when it comes to spending this year, focusing on projects supporting the rampant growth in exports. Speaking during a conference call Wednesday, CEO Steven Kean said 2020 “has shown us how…

Richard Glick, a Democrat who joined FERC in 2017, was named chairman of the Commission by President Biden on Thursday. “This is an important moment to make significant progress on the transition to a clean energy future. I look forward to working with my colleagues to tackle the many challenges ahead,” said Glick, who was…

In its last monthly meeting under the Trump administration, FERC on Tuesday voted not to move forward on a plan to revisit which agency actions should require a detailed review under the National Environmental Policy Act (NEPA). A proposed notice of inquiry presented to the commissioners would have potentially expanded the Federal Energy Regulatory Commission’s…

The potential for oil and natural gas infrastructure development remains “significant” through 2025 as the U.S. economy recovers from Covid-19 and exports increase, according to ICF Resources Inc. In a report prepared for the Interstate Natural Gas Association of America (INGAA), ICF said one scenario used by researchers to evaluate changes to markets and infrastructure…

FERC in its monthly meeting Tuesday failed to pass three draft orders for Mountain Valley Pipeline LLC (MVP), a move that could augur poorly for the developer’s expectations to quickly complete construction amid the transition to Democratic leadership at the agency. In recent months, MVP has sought the Federal Energy Regulatory Commission’s blessing to continue…

FERC dealt a blow this week to the proposed Jordan Cove liquefied natural gas (LNG) export terminal by denying a petition filed last year by the sponsors to waive Oregon’s regulatory authority. Jordan Cove Energy Project LP and Pacific Connector Gas Pipeline LP had argued that the Oregon Department of Environmental Quality (ODEQ) far exceeded…

A federal appeals court struck down a Trump administration rule intended to relax federal oversight of air pollution from coal- and natural gas-fired power plants. The reversal of the Affordable Clean Energy (ACE) rule, issued by the U.S. Court of Appeals for the District of Columbia on Tuesday, concluded that Environmental Protection Agency officials under…