Nat Gas News – June 5, 2017

Nat Gas News – June 5, 2017

In the News

Benefits-versus-politics battle rages over U.S. Northeast’s natural gas needs

Daily Energy Insider reports: New York Gov. Andrew Cuomo’s administration recently announced that construction would begin later this year on a new microgrid to power Empire State Plaza in Albany, a downtown complex housing several state government buildings. Along with a new cogeneration plant, the project could produce up to 90 percent of the 98-acre complex’s annual electric energy needs.ISO NE reports that naturalgas- fired generation resources fueled 49 percent of the region’s electricity in 2016 and is the primary fuel source for more than 40 percent of regional capacity. The project is slated to save the state $2.7 million in annual energy costs, cut down greenhouse emissions, decrease the New York’s carbon footprint, help fight climate change and bolster its efforts to “harden our vital facilities to withstand what Mother Nature throws our way,” Cuomo said in a statement. Most of the time, these natural gas generators set the price for wholesale electricity. Pipeline constraints create spikes in both natural gas and wholesale electricity prices. For more on this story visit or click the following link

BP touts natural gas deals, clean-energy future

Houston Chronicle reports: BP on Friday announced three deals that would continue its shift toward more natural gas production as the British oil major increases its bets on a low carbon future. BP has increased its gas holdings in recent years. Last year, it announced it was moving its U.S. onshore headquarters from Houston to Denver and taking about 200 of its 4,500 local employees with it. The new Colorado office, the company said Wednesday, will be closer to its operations in the Rocky Mountains, “an important energy hub of the future,” and one that is largely natural gas. For more on this story visit or click the following link

This article is part of Daily Market News & Insights

Tagged: nat gas, prices

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