Kinder Morgan 2Q Earnings Slip into Red on Massive South Texas Impairment, but Macro Outlook Bullish naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
Follow Us
We are first in your inbox with the most important news in the industry―keeping you smarter and one-step ahead in this ever-changing and competitive market.Start your free subscription
Renewable Natural Gas Emerging as Serious Decarbonized Gas Contender
Last December, two giant Virginia-headquartered firms energy company Dominion Energy and food manufacturer Smithfield Foods announced completion of a novel renewable natural gas (RNG) facility in Milford, southwestern Utah. While the Milford facility is the first of four similar projects that Align Renewable Natural Gas a joint venture formed in November 2018 between Dominion and Smithfield is spearheading, it is just one of a string of new, notable developments that suggest RNG is quickly gaining ground as the energy transition unfolds.
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now
A slight dip in Bakken production opened space for West Canada gas along Northern Border Pipeline, and more space is expected to appear in the coming months, according to S&P Global Platts Analytics.
Platts Analytics sample data for the Williston in North Dakota shows a swing from 2.2 Bcf/d in March to 2.14 Bcf/d as of April 16. It is expected to fall to 2.09 Bcf/d by April 20.
As a result, the basin has sent less gas to the US Upper Midwest on Northern Border. Bakken flows on Northern Border fell to just 1.7 Bcf/d on April 6, the lowest it has been since Feb. 19, when extreme cold caused production curtailments. Bakken flows measured at 1.8 Bcf/d on Northern Border on April 16.
Exec says the gas industry is largely in denial about the need for rebranding.
There is no shortage of acronyms in the natural gas industry, with perhaps some of the best-known ones being LNG, NGL, CNG, and LPG. A Denver-based environmental services firm aims to make another three-letter abbreviation – RSG – commonplace in the industry.
Short for “responsibly sourced gas,” RSG is a designation from a third party verifying that gas was produced with high environmental and social standards.
“RSG is the beginning of a multi-year appropriate rebranding of natural gas,” Chris Romer, CEO and co-founder of Project Canary – the independent third party ensuring that gas meets strict criteria on behalf of clients such as utilities and LNG buyers. “It’s reestablishing the appropriate brand equity with natural gas.”
April Natural Gas Futures Rally On LNG Momentum
LNG volumes held above 11 Bcf
Weather-driven demand remained light
Cash prices were led lower by drops in the Northeast
Natural gas futures on Tuesday found momentum as signs of sustained strength in liquefied natural gas (LNG) levels offset forecasts for mild weather and light heating demand.
The April Nymex contract settled at $2.562/MMBtu, up 7.8 cents day/day. May gained 7.4 cents to $2.597.
On Monday, the prompt month dropped 11.6 cents and fell to its lowest level since early January. Even with Tuesday’s gain, the April contract finished in the green only twice over the past 10 trading sessions.