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December 20th, 2012

Fracking Across The Pond

by Andrew Price, President & COO

In my last blog I wrote about New Brunswick’s Frederick Brook and Horton Bluff shale formations. These formations may hold enormous amounts of natural gas and, if developed, may bring low priced natural gas into northern New England for many years. Before development can proceed, the New Brunswick government needs to settle on regulations to govern hydraulic fracturing. A similar process is playing out across the pond in Britain. Late last week, Britain’s Department of Energy & Climate Change lifted a moratorium on “fracking”. Shale gas development in Britain bears watching; higher natural gas prices in Britain and continental Europe attract scarce cargos of liquefied natural gas (LNG) away from the US. This is of no consequence today to most of the US, where prices are so low that owners of terminals designed to import LNG are rushing to reverse flow and start exporting domestically produced natural gas instead. Isolated load pockets, however, like northern New England, have suffered this year from a lack of LNG imports.

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December 10th, 2012

New Brunswick Canada Shale

by Andrew Price, President & COO

As discussed in a previous blog, New England is facing a winter of natural gas supply constraints. This is hard to take knowing that other regions of the US are enjoying the considerable economic benefits of a boom in natural gas production. There may be light at the end of the proverbial tunnel in the form of New Brunswick shale. New Brunswick Canada has significant shale formations that have yet to be fully explored. Some believe that the Frederick Brook and Horton Bluff shale formations could be the next Marcellus, holding enormous amounts of natural gas that can be economically produced at low prices.

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