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Jordan Cove approval may come in 2019; LNG exports support EIA price outlook


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Jordan Cove approval may come in 2019; LNG exports support EIA price outlook

Pembina anticipates FERC decision on Jordan Cove in 2019

Pembina Pipeline Corp. expects a decision in the second half of 2019 on its reapplication to the Federal Energy Regulatory Commission for construction of its Jordan Cove LNG export project. With a positive ruling from the regulator, the project could be in service by 2024, President and CEO Mick Dilger said on an Aug. 2 conference call. The Calgary, Alberta-based company is going "full steam ahead" in its pursuit of contracts to underpin the facility and is still receiving customer interest in it despite FERC's 2016 rejection of the project.

US pipeline, LNG exports support EIA's 2019 price outlook above $3/MMBtu

The U.S. Energy Information Administration expects the 2018 Henry Hub spot natural gas price to slip from the 2017 average before gaining ground in 2019, as U.S. natural gas exports rise and domestic consumption slips. U.S. dry natural gas production is forecast to rise from 73.6 Bcf/d in 2017 to 81.1 Bcf/d in 2018, then jump to 84.1 Bcf/d in 2019. Supporting the rising production, pipeline exports of natural gas, which averaged 6.7 Bcf/d in 2017, are expected to average 7.0 Bcf/d in 2018 and 8.5 Bcf/d in 2019, as new pipelines carry U.S. supply to demand centers in Mexico.

Gas flows to Sabine Pass LNG facility increased in July after months of declines

Natural gas flows to Cheniere Energy Inc.'s Sabine Pass LNG export terminal increased from June to July, ending a stretch of three months in which flows declined. July marked the first increase in monthly flows at Sabine Pass since they reached an all-time high of 97.4 Bcf in March. Over the past 12 months, flows have increased from 1.8 Bcf/d in August 2017 to 2.7 Bcf/d in July 2018.

Report: Goldman Sachs may buy LNG from Cheniere's Sabine Pass

Goldman Sachs Group Inc. is in discussions with U.S. LNG pioneer Cheniere Energy Inc. to buy a tanker of LNG from the Sabine Pass liquefaction and export facility, The Wall Street Journal reported Aug. 8, citing "people familiar with the matter."

Sempra forms new operating group for North American infrastructure businesses

Sempra Energy formed a new operating group for its North American infrastructure businesses encompassing its Mexican and LNG operations. The new group, named Sempra North American Infrastructure, includes the company's Mexican operating subsidiary Infraestructura Energetica Nova SAB de CV, or IEnova, and Sempra LNG & Midstream, which handles the Cameron LNG LLC liquefaction project near the Gulf of Mexico and other LNG development and marketing activities, according to an Aug. 8 news release.

Weekly US gas use dips slightly; US LNG export sees biggest month in July

Natural gas demand in the U.S. decreased slightly in the week that ended Aug. 1, the U.S. Energy Information Administration said in its Aug. 2 "Natural Gas Weekly Update." Total U.S. gas consumption decreased by 1% for the week compared with the previous week, the EIA reported, citing PointLogic Energy data. Gas consumption for power generation declined by 4% compared to the previous report week due to somewhat moderate temperatures in the Southwest area. Residential and commercial gas consumption climbed 8% compared to the previous week, but remains a minor source of consumption over the summer, while industrial gas consumption stayed flat week-over-week, averaging 19.9 Bcf/d.