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June 30th, 2014

Notes from the 2014 LDC Gas Forum??s Northeast Gas Buyer??s Panel Discussion

by Andrew Price, President & COO

I had the opportunity to speak again at this year’s LDC Gas Forum in Boston as a member of the Gas Buyer’s Panel. The three-day LDC Gas Forum attracts a diverse set of players from the natural gas industry. Local distribution utilities,pipelines, marketers, traders, producers, consultants and large end-users are all in attendance.

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February 6th, 2014

Natural Gas Price Reaches Stratosphere In Northeast: New England States Issue Plan to Bring Prices Back to Earth

by Andrew Price, President & COO

The price of natural gas, purchased on the spot market, has reached historic highs this winter in the Northeast. In New York, prices toped $120 per MMBtu on the 22nd of January. In New England (see chart) prices hit $80 per MMBtu on the 23rd of January. In response, manufacturing facilities are shutting down and end-users across the spectrum are seeing their energy budgets blow-out in the course of just a few days. On Thursday January 21, a coalition of the New England states, issued details on a plan to mitigate future price spikes. Even if the plan is implemented, relief is unlikely to occur until the 2017/2018 winter. Given the magnitude of the price spikes and the severity of the economic impact, the proposed plan may not go far enough to ensure lasting price relief. 

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December 5th, 2013

Largest Ever November Withdrawal of Natural Gas

by Andrew Price, President & COO

The Energy Information Administration (EIA) reported the largest ever withdrawal of natural gas from storage during the month of November. The EIA report, issued at 10:30 this morning, indicated that US stockpiles of natural gas dropped 162 billion cubic feet (bcf) during the week ending November 29th. This leaves 3.614 trillion cubic feet (tcf) of working natural gas in storage. What does this mean for natural gas prices this winter?

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September 19th, 2013

Natural Gas: Still Cleaner Than Coal & Getting Better

by Andrew Price, President & COO

Depending on who you ask natural gas is either: (1) a clean bridge fuel that can be relied on until renewables (wind, solar and hydro) are ready for prime time, or (2) a ruinously cheap fossil fuel that is actually dirtier than coal. The University of Texas (UT) has teamed up with the Environmental Defense Fund (EDF) and nine petroleum companies to publish a study which seeks to shed light on the environmental impact of natural gas production. The study, is groundbreaking due to the fact that researchers used actual emissions from 190 onshore natural gas sites including nearly 500 wells, whereas previous studies done by Cornell University and the EPA relied only on estimated emissions.

 

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June 27th, 2013

Flaming Ice -- The Next Disruptive Energy Source??

by Andrew Price, President & COO

Methane hydrates, sometimes referred to as “flaming ice”, are composed of natural gas deposits and water frozen together as solids. Although previously discovered on land in arctic permafrost, a few nations including Japan are exploring the untouched hydrates lying beneath the seabed. The New York Times and The Atlantic have reported that countries in dire need of an alternative energy source, such as Japan, have successfully begun the intensive offshore extraction process. Could methane hydrates disrupt world energy markets in the future, just as shale gas production in the US is doing today?

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