Natural Gas News – May 13, 2019
Natural Gas News – May 13, 2019
Con Edison strikes deal to add more natural gas capacity for New York City
Daily Energy Insider reported: Con Edison has secured the right to use an existing natural gas pipeline to provide needed incremental natural gas capacity to the Bronx and parts of Manhattan and Queens. Natural gas demand in New York City has grown significantly in recent years as many consumers are converting their systems from oil to gas. The increased capacity will come from the Iroquois Gas Transmission System. Con Edison reached an agreement to upgrade compression facilities on the Iroquois system to provide the increased natural gas capacity to Con Edison’s distribution system that serves New York City. The incremental capacity is expected to be placed into service by November 2023, pending permits and approvals. For more on this story visit dailyenergyinsder.com or click https://bit.ly/2JCML6T
Africa deal extends French giant Total’s LNG push
Marketwatch reported: Total SA’s deal to buy Anadarko Petroleum Corp.’s assets in Africa cements the French oil major’s position as the world’s second-largest provider of liquefied natural gas while pushing its business deeper into dangerous parts of the world. Total said earlier this week that it agreed to buy Anadarko’s African assets for $8.8 billion in a transaction that would help Occidental Petroleum Corp. finance its takeover of the Texas-based oil producer. The deal was a key part of Occidental’s victory over Chevron Corp. as the companies vied to buy Anadarko and its coveted U.S. shale holdings. If the sale goes through, Total will inherit projects across Algeria, Ghana, Mozambique and South Africa containing 1.2 billion barrels of oil-equivalent of proved and probable reserves, of which 70% is natural gas. The assets help Total gain ground on Royal Dutch Shell PLC, the market leader in natural gas, and brings it closer to its stated goal of becoming a cleaner company with a portfolio that contains more natural gas than crude. For more on this story visit marketwatch.com or click https://on.mktw.net/2Hpks95
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
