Nat Gas News – May 9, 2017

Nat Gas News – May 9, 2017

In the News

Tokyo Gas takes a stake in Castleton oil and gas unit

The Financial Times reports: Tokyo Gas acquired a 30 per cent equity interest in Castleton Resources, a unit of Castleton Commodities that owns more than 160,000 net acres in eastern Texas with net gas production of 238m cubic feet equivalent per day, the Japanese company said on Monday. High quality global journalism requires investment. Castleton Resources aims to develop assets in the Haynesville shale region straddling Texas and Louisiana. Once one of the most prolific areas for shale gas output, the Haynesville’s volumes have declined in the face of low gas prices. Greater demand could come from exports of liquefied natural gas through ports being built on the nearby Gulf of Mexico coast, including to Japan. Shunjiro Yamashita, chief executive of Tokyo Gas America, called the Gulf coast area “strategically important for Tokyo Gas.” For more on this story visit ft.com or click the following link http://on.ft.com/2qmhsUS

Only 3 people tasked to check on Colorado pipeline safety

KFOX 14 Natural gas prices across Texas have tumbled recently, and you can blame the state of California for it. The state of California is now utilizing hydroelectric power more than they have in previous years, per the California Energy Commission. Hydroelectric power is energy generated by water, through water mills, dams, and steam. The surplus in natural gas across the state has led to decreasing natural gas prices to companies that purchase the gas. Since the state is more focused on created clean renewable energy with their new snowpack, it means the state is purchasing less natural gas from the state of Texas. And that’s led to a surplus, affecting customers right here in El Paso. Texas Gas Service, the primary provider of natural gas to over 600,000 Texans, purchases the gas for their customers, and passes the cost of gas directly along, making no profit along the way. For more visit kfoxtv.com or click the following link http://bit.ly/2pZAyiY

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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.

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