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Mar 1, 2015

As New England freezes, natural gas stays cheap

NEW YORK, March 1 (Reuters) – What a difference a year
makes.

Twelve months ago, tumultuous weather in the U.S. Northeast
caused record natural gas price spikes and forced some power
plants to shut for lack of fuel as power producers scrambled to
outbid each other for scarce supplies.

This February, the region has shivered through the coldest
weather in 81 years, yet gas prices are a fifth lower than a
year ago after power generators, learning lessons from last
winter, stocked up on extra oil and gas from domestic and
overseas sources before the weather turned cold.

Feb 10, 2015

U.S. power plants burn record amount of natgas in January

Feb 10 (Reuters) – Electricity companies in the lower 48
U.S. states gobbled up record amounts of natural gas to generate
power in January 2015 as low prices made it cheaper to burn than
coal.

Power generators used an average 23.1 billion cubic feet per
day of gas in January 2015, up 13 percent from 20.5 bcfd in
January 2014, according to Thomson Reuters Analytics.

Feb 10, 2015

U.S. burns record natgas to generate power in January

Feb 10 (Reuters) – U.S. electric companies in the lower 48
states gobbled up record amounts of natural gas to generate
power in January 2015 as low prices made it more economic to
burn gas instead of coal.

Power generators used an average 23.1 billion cubic feet per
day of gas in January 2015, up 13 percent from the 20.5 bcfd
average in January 2014, according to Thomson Reuters Analytics.

Dec 23, 2014

Vantage Energy fined nearly $1 mln for environmental violations

By Scott DiSavino and Anupam Chatterjee

(Reuters) – Pennsylvania’s Department of Environmental
Protection(DEP) on Monday said it imposed a $999,900 fine on
U.S. oil and natural gas company Vantage Energy Inc, one
of the largest given to a driller by DEP this year, for several
environmental regulations violations.

The company is indicted with charges of violating waste
disposal regulations, which has impacted streams, wetlands,
soils, surface water and groundwater around the company’s Porter
Street shale oil well pad in Franklin Township, Greene County,
Pennsylvania, the DEP said in a statement.

Nov 7, 2014

Unusual cold front menaces Midwest, fueling natural gas spike

NEW YORK (Reuters) – A cold front more common in mid-winter that is being whipped up by the polar vortex is descending rapidly on the U.S. Midwest, fueling a 25 percent rally in natural gas prices over just eight days and pushing up a seasonal shift in the storage cycle.

Until a week ago, weather forecasters were calling for warmer-than-normal temperatures through mid-November, meaning utilities were continuing to inject gas into storage for several more weeks. But the outlook has shifted dramatically in just a few days, catching traders off guard, as the vortex, a mass of whirling frigid air, is set to take hold.

Nov 5, 2014

Low oil prices threaten to curb ‘associated’ gas output growth

By Scott DiSavino and Barani Krishnan

(Reuters) – The dive in global oil prices this autumn could drive down investment in U.S. shale oil wells, clipping growth not only in crude production but also the by-product natural gas from those wells.

So-called associated gas from crude oil wells represents a third of the growth of new gas supplies and currently accounts for about 8 percent of the total.

Nov 3, 2014

ConEd ready for U.S. winter after lessons learnt last year

Nov 3 (Reuters) – ConEdison Solutions is ready to supply
power and natural gas to U.S. customers this winter after
learning lessons from the polar vortex that vexed utilities last
winter.

The extreme cold earlier this year caused gas prices to
spike to record highs in many U.S. Northeast regions as homes
and businesses used record amounts of the fuel to keep warm.
That forced energy suppliers to buy more power and gas than
planned, at extremely high prices.

Oct 8, 2014

Governor sees riches for Virginia from U.S. shale gas

By Scott DiSavino and Barani Krishnan

(Reuters) – Impressed by the riches created by shale gas in some U.S. Northeast states, Virginia is working to build a manufacturing hub and create thousands of jobs from the cheap fuel that will soon flow into the state, Governor Terry McAuliffe said on Wednesday.

Shale gas output has jumped more than 10 fold in less than a decade, transforming the economies of producers such as Pennsylvania, Ohio and North Dakota, and Virginia wants a piece of that, he told Reuters.

Sep 25, 2014

Henry Hub, king of U.S. natural gas trade, losing crown to Marcellus

By Scott DiSavino and Barani Krishnan

(Reuters) – For nearly a quarter-century, traders around the world have looked to a spot in Louisiana for the best price of U.S. natural gas. Now they’re looking east.

The Henry Hub in southern Louisiana, which connects to more than a dozen on- and offshore pipelines from Texas and the Gulf of Mexico, has been surpassed as the most active place for trading physical U.S. natural gas by hubs in shale-rich Pennsylvania.

May 30, 2014

EPA may nod to nuclear in carbon rules, as generators fear closures

WASHINGTON/NEW YORK, May 30 (Reuters) – U.S. environmental
regulators could throw a lifeline to the nation’s ailing nuclear
power fleet when they unveil landmark carbon pollution curbs
next week, heeding calls from operators like Exelon Corp
to acknowledge nuclear energy as a valuable way to reduce
emissions.

The Environmental Protection Agency is due on Monday to
release a plan to slash pollution from the power sector, the
centerpiece of President Barack Obama’s efforts to tackle
climate change and likely one of the most contentious
initiatives of his second term.

    • About Scott

      "I cover the North American power and natural gas markets from New York since 2000. Before that I worked on the Equities desk covering energy, mining and heavy industry companies."
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