The slip-sliding natural gas market plumbed new seven-year depths Tuesday, and industry watchers warned that overflowing storage facilities and tepid demand could push prices still lower. For full story, click here
David Lesar, chief executive of Halliburton Co., declared the high levels of natural gas storage would keep North American gas drilling activity suppressed in 2009. For full story, click here
Ukrainian Journal cited Ms Yulia Tymoshenko Prime Minister of Ukraine as saying that Naftogaz Ukrayiny will continue pumping gas into underground storage facilities in July. For full story, click here
The European Bank for Reconstruction and Development declared that it will lend $277 million to Hungarian energy company MOL Nyrt. for the construction of a gas storage facility that would help the country bridge future interruptions of supply from Russia. Riccardo Puliti, director of the EBRD’s energy group, stated: This project will boost Hungary’s energy [...]
Natural gas storage levels surged in line with expectations last week, well above historical averages with demand weak. For full story, click here
Natural gas storage levels in the U.S. surged last week to meet analysts’ estimates, but remain well above historical levels. For full story, click here
Reports reveal that the amount of U.S. natural gas in storage did not change last week from the week before, as higher production offset regional consumption. For full story, click here
Consultancy RPS falls on the belief that planners will go ahead with gas storage developments before a new system takes in. The firm has submitted an application for a £300 million expansion of its offshore natural gas storage facility in the Irish Sea on behalf of Centrica. RPS director Geoff Bullock said: While clear national [...]
Inergy LP’s subsidiary Inergy Midstream LLC has agreed to buy US Salt LLC for an undisclosed amount. Inergy said: The solution mining process US Salt uses creates salt caverns that can be developed into usable natural gas storage capacity. Click here for full story
San Diego based Sempra Energy strengthened its positioning in the natural gas with the acquisition of a gas storage and distribution company in Alabama. For more information, click here
Get our independent commentary on gas trends and companies delivered to your inbox.
