Natural Gas News – May 8, 2018

Natural Gas News – May 8, 2018

Energy Industry Has High Hopes for Natural Gas Under NAFTA 2.0

The Washington Examiner reported: The U.S. energy industry is hoping that a revamped North American Free Trade Agreement could enhance already booming trade in the continent and boost exports of natural gas. But as negotiators from the U.S., Canada and Mexico meet again this week to work through re-maining disagreements, energy advocates are worried that the mercurial President Trump, fresh off imposing tariffs on steel and aluminum to the chagrin of the industry, could walk away from the treaty, as he has warned. “If we reach an agreement, I can see energy trade increasing dramatically, but if things fall apart, energy can be a significant casualty because Mexico and Canada are extremely important to the health of the U.S. energy sector, and it would be an unfortunate self-inflicted wound if that happens,” said David Goldwyn, an international energy consultant who served as the State Department’s special envoy and coordinator for international energy affairs from 2009 to 2011. For more on this story visit washingtonexaminer.com or click https://washex.am/2rtugat

Shell to Sell Canadian Natural Resources Stake

Bloomberg reported: Royal Dutch Shell Plc has agreed to sell out of oil-sands producer Canadian Natural Resources Ltd. The Anglo-Dutch company’s Shell Gas BV unit will divest all its shares in Canadian Natural for total pretax proceeds of $3.3 billion, The Hague-based Shell said Monday. The sale serves the dual purpose of shedding one of its dirtiest assets, while reducing debt accumulated after the $50 billion purchase of BG Group Plc. The shares are being offered at $34.10 apiece, according to a person familiar with the matter. That’s a 2.9 percent discount to Canadian Natural’s close on Monday in New York. Shell had accounted for the money from the sale in its divestment program when the deal was originally announced last year and doesn’t bring the company closer to its $30 billion target. For more on this story visit bloomberg.com or click https://bloom.bg/2FVSYVR

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