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Company News

AngloGold Ashanti Signs $140 Million Gas Deal with APA Group reported that AngloGold Ashanti (NYSE:AU) has signed a $140 million infrastructure agreement with APA Group (ASX:APA). The deal will cover a natural gas pipeline to supply AngloGold's remote Tropicana and Sunrise Dam gold mines located in Western Australia.

Shell Suspends Development of Liquefaction Unit, Alberta

The Globe and Mail reported that Shell (NYSE:RDS.A) has halted development operations at the Jumping Pound complex in southern Alberta, Canada. A boom in shale gas has made natural gas prices more competitive, but high development costs remain a challenge, as stated by the Globe.

Teekay LNG Partners Secures Interest in 4 LNG Newbuildings

Teekay LNG Partners L.P. (NYSE:TGP) has acquired ownership interests in four 174,000 cubic meter Tri-Fuel Diesel Electric liquefied natural gas (LNG) carrier newbuildings from BG Group (LSE:BG). The vesels will be constructed by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. in China and are scheduled to deliver between September 2017 and January 2019. Each newbuilding will operate under a 20-year time-charter contract, plus extension options, with Methane Services Limited, a wholly-owned subsidiary of BG.

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Market News

Natural Gas Futures Cool on Weather Outlook reported today that natural gas futures were down on forecasts of cooler temperatures in the Midwest and Northeast regions of the United States.

Deloitte Predicts Strong Second Half of 2014 for Canadian Oil and Gas Producers

Today, Deloitte's Resource Evaluation & Advisory group released its current Canadian domestic oil and gas price forecast. The firm suggested that strengthening prices during the second quarter would be likely to continue, and would result in a stronger second half of the year for Canadian oil and gas producers.

Iran Holds Largest Proven Natural Gas Reserves Globally

According to BP's (NYSE:BP) Statistical Review of World Energy released this week, Iran holds the world's largest natural gas reserves, Asharq Al-Awsat reported. The country has 33.8 trillion cubic metres of gas, making up 18.2 percent of the world's proven reserves.

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