Natural gas producers in northeastern British Columbia are backing pipelines proposed by TransCanada Corp., enhancing the likelihood that the region’s plentiful resource will find its way to market.
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State-owned GAIL will purchase gas in ships (LNG or liquefied natural gas) from Anglo-Dutch oil major Shell to crank the gas import terminal attached to the beleagured Dabhol power plant in Maharashtra.
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India’s Oil and Natural Gas Corp said that it plans to resume full gas supplies from its South Bassein offshore gas fields from Friday after a planned shutdown of about seven days.
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Power producer Dynegy Inc. reported that it cut its fourth-quarter loss from a year ago, but warned that it expects to lose money in 2009 as energy prices decline.
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Hungary’s government will not increase natural gas prices on April 1.
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Peco Gas Company said that it will reduce its gas commodity rate by 10 percent on average for its 485,000 suburban gas customers, effective March 1.
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Quicksilver Gas Services LP announced that net income for the fourth quarter of 2008 of $11.5 million, more than triple the $3.2 million of net income in the prior-year period.
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El Paso Corporation announced its financial and operational outlook for 2009.
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The natural gas prices are so short due to which the prices jumped back as $4 per mmBtu is a major support which traders are looking for.
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As global economies continue to weaken, natural gas production appears to be increasing despite soft demand and the threat of liquefied natural gas heading to the U.S. this summer without a home.
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Friday, February 27, 2009