Natural Gas News – March 11, 2019
Natural Gas News – March 11, 2019
The Easy Money In European Natural Gas Is Gone
Oil Price reported: At the end of last winter’s heating season, it was an unusually cold spell that upended European natural gas markets, with storage levels falling below average and prices firming up as demand shot up. At the end of this winter’s heating season, it is the unusually mild weather in most of Western Europe for most of the winter that has driven natural gas prices down and left supplies higher than the seasonal average. The summer gas futures at the Dutch TTF hub have declined by 16 percent so far this year and have been trading lately around the lowest in 10 months. The winter gas futures contract, however, has dropped by just one third of the decline in the summer contract, according to data from ICE Endex compiled by Bloomberg. For more on this story visit oilprice.com or click https://bit.ly/2HszH34
BP, Exxon To Help Advance Alaska LNG Export Project -Alaska Gas line
Reuters reported: Alaska Gasline Development Corp (AGDC) said it signed an agreement with BP PLC and Exxon Mobil Corp to help advance the state-owned company’s proposed $43.4 billion Alaska liquefied natural gas (LNG) project. Our respective organizations share an interest in the successful commercialization of Alaska’s stranded North Slope natural gas,” AGDC Interim President Joe Dubler said in a statement late Friday. BP and Exxon Mobil produce massive amounts of oil in Alaska and have discovered huge gas resources that are stranded in the North Slope. The Alaska LNG project is designed to liquefy 3.5 billion cubic feet per day of gas for sale to customers in the Asia-Pacific region from a facility to be built in Nikiski on the Kenai Peninsula south of Anchorage. It includes an 807-mile (1,300-km) pipeline from the North Slope. U.S. energy regulators recently delayed the date they expect to decide on the LNG project to June 2020 from February 2020. Officials at AGDC have said the company is reviewing the timeline to get the project built. For more on this story visit reuters.com or click https://reut.rs/2VSYCk9
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