Natural Gas News – February 20, 2019
Natural Gas News – February 20, 2019
Cheaper Natural Gas Is Coming To Europe
Oil Price reported: The European Union recently updated its gas pipeline rules in a bid to assuage concerns about its deepening dependence on Russian gas. The move was generally praised by Nord Stream 2 opponents, but guardedly, since the update did not halt the project but will merely slow it. However controversial, the project will be among the factors that will benefit gas consumers in Europe amid stiffer competition from other exporters of natural gas. Germany, the largest gas market in Europe and biggest buyer of Russian gas as well as the strongest supporter of Nord Stream, said it will build two LNG terminals as part of efforts to diversify its sources of the fuel as it phases out coal and nuclear power plants under pressure from the green lobby. For more on this story visit oilprice.com or click https://bit.ly/2T71SL4
TransCanada Applies For West-East Gas Shipment Clearance
Oil Price reported: TransCanada has applied with the National Energy Board of Canada for permission to start transporting natural gas from the west of the country to New Brunswick in the east, using existing pipeline infrastructure, CBC reports, adding the company has won the support of Enbridge and Irving Oil, the two largest gas retailers in New Brunswick. According to the general manager of Enbridge, Gilles Volpe, the move could cut consumers’ gas bills by as much as 30-40 percent. The plan, Volpes said, “ gives access to more capacity, and more access to the Alberta-based natural gas. That natural gas is plentiful, of course, but it’s also very stable from a price point of view.” Enbridge has already signed a contract for the deliveries of natural gas from Alberta to the East for 20.5 years beginning in 2021. Irving Oil has also signed a contract, with deliveries beginning this November. “EGNB [Enbridge Gas New Brunswick] does not have access to local supply, nor local natural gas storage facilities to meet its franchise needs at this time and considers [gas from the west] as a valuable asset in meeting the needs of Atlantic Canada long term,” said Volpe. For more on this story visit oilprice.com or click https://bit.ly/2T6OXIS
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