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Natural Gas News Archives

Natural Gas News Archives for April 2008

Wednesday Apr 30 | KMOT-TV Minot

Proposal Would Block Construction of Some ND Oil Pipelines

A proposed ballot initiative would block construction of some new oil pipelines in North Dakota. via KMOT-TV Minot

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Related Topix: Canada, Energy, Oil & Gas, TransCanada

Wednesday Apr 30 | Burlington Free Press

Workers repair gate on Connecticut River dam

Workers have repaired a gate on a Connecticut River hydroelectric dam that had been stuck open for the last two weeks. via Burlington Free Press

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Monday Apr 28 | Globeinvestor.com

TransCanada fights U.S. decision on huge gas terminal

“But I think with the states' opposition, it's going to be very hard for Broadwater to overcome.”

An energy company, rejected by two states in its bid to build the world's first floating liquefied natural gas terminal in Long Island Sound, said Monday it intends to appeal to the U.S. Commerce Department. via Globeinvestor.com

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Sunday Apr 27 | Globeinvestor.com

TransCanada ramps up U.S. pipeline ambitions

“But not all refineries are prepared to handle this stuff.”

TransCanada Corp. is scaling up its plans to build a pipeline network connecting Alberta to southern U.S. markets, a move that highlights how strong demand and high crude prices are outstripping escalating ... via Globeinvestor.com

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Related Topix: Nebraska, Energy, Oil & Gas, TransCanada

Saturday Apr 26 | The Chronicle-Journal

It's in Canada's interest to get Mackenzie pipeline going: TransCanada CEO

“A narrower price differential would bring enormous economic benefits to Alberta, raising the price of all crude oils here in Alberta and brining benefits to both the Alberta economy and specifically Alberta producers of crude oil.”

TransCanada Corp. wants to ship crude oil from Alberta to the U.S. Gulf Coast in the second phase of its planned Keystone Pipeline project, chief executive Hal Kvisle said at the company's annual meeting ... via The Chronicle-Journal

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Friday Apr 25 | Globeinvestor.com

TransCanada profit soars

Power and pipeline company TransCanada Corp. has reported a profit of $449-million or 83 cents a share for the first quarter of 2008, well up from $265-million or 52 cents a year earlier, although the latest ... via Globeinvestor.com

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Related Topix: Energy, Oil & Gas, TransCanada

Friday Apr 25 | The Canadian Press | Posted by The Canadian Press

Alberta aboriginal group protests proposed pipeline at TransCanada meeting

- The chief executive of TransCanada Corp. (TSX:TRP) faced some questions at the pipeline builder's annual meeting about a dispute with a northern Alberta aboriginal group.

Members of the Lubicon First Nation and their supporters protested outside the meeting in Calgary, demanding the Lubicon be consulted before the company builds a billion-dollar pipeline through their land.

One shareholder told CEO Hal Kvisle he worries about possible delays and regulatory wrangling similar to what has been seen with the Mackenzie Valley natural gas pipeline project. Read more

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Friday Apr 25 | The Toronto Star

Payments boost TransCanada profit

“Strong first-quarter earnings and cash flow from our pipelines and energy businesses are the result of TransCanada's focus on quality investment opportunities in markets where we have expertise and competitive advantage”

CALGARYTransCanada Corp. has reported a 69 per increase in first-quarter net profit to $449 million, boosted by $152 million realized from Calpine bankruptcy restructuring settlements. via The Toronto Star

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Related Topix: Energy, Oil & Gas, TransCanada

Thursday Apr 24 | Argus Leader

Marshall County pipeline hearing ends

An environmental toxicologist says a crude oil pipeline is no threat to an aquifer in South Dakota's Marshall County. via Argus Leader

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Tuesday Apr 22 | BNET

TransCanada, Enbridge Jockey for $30 Billion Pipeline Deal

TransCanada Corp . and Enbridge Inc . are throwing hockey-type elbows at each other to procure a state license to work with either ExxonMobil or BP and ConocoPhillips to build the long-delayed $30 billion-plus ... via BNET

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Sunday Apr 20 | Alaska Journal of Commerce

Request made to add abortion to gas line debate

“We have been able to live under the same roof for a long time, and I expect us to be able to continue to do that. It's just both sides expressing their separate views on the subject”

Senate President Lyda Green has asked the governor to expand the upcoming special session to include two abortion bills that stalled in the regular session. via Alaska Journal of Commerce

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Friday Apr 18 | KXMB News

Judge: Pipeline builders can get access to private land...

Judge: Pipeline builders can get access to private land Eds: APNewsNow. VALLEY CITY, N.D. A judge has allowed the company building the Keystone oil pipeline to survey private land in Barnes County. via KXMB News

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Thursday Apr 17 | The Toronto Star

Bruce reactor start-up costs jump almost $1B

“As a result, unit two, which is the lead unit, has borne many of the first-of-a-kind risks which has impacted our overall costs for the project. We do, however, see many examples of performance improvements on our second unit.”

Nuclear electricity generator Bruce Power now estimates the cost of returning two idle reactor units to service at between $3.1 billion and $3.4 billion, up from an original 2005 cost projection of $2.75 ... via The Toronto Star

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Related Topix: Energy, Oil & Gas, TransCanada

Wednesday Apr 16 | Houston Chronicle

Firms clamor to get in on Alaska pipeline project

“A project can't happen without the cooperation of the producers”

The team effort by BP and ConocoPhillips to build a long-envisioned natural gas pipeline from Alaska's North Slope has others in the industry wanting to play too. via Houston Chronicle

1 comment

Monday Apr 14 | The Canadian Press | Posted by The Canadian Press

Alaska pipeline in for more hurdles than Mackenzie: former NWT resource director

“What we're finding now, of course, is that inflation appears to be coming back with a vengeance in the U.S. and in Canada”

- Anyone who thinks an Alaskan natural gas pipeline will see fewer hurdles than the long-stagnant Mackenzie Gas Project is sadly mistaken, says the man who used to run the Northwest Territories' natural resources department.

"People have tried to make the story that the Mackenzie gas project is dogged by all kinds of regulatory problems, whereas an Alaskan project will be smooth sailing," said Doug Matthews, a Calgary energy consultant who, before retiring, spent 25 years in the North.

"The sailing might be a lot less smooth than people have let on." Read more

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Sunday Apr 13 | Earth Times

Zacks Analyst Interview Highlights: TC Pipelines, Williams Companies and Enterprise Products Partners

Zacks.com releases the latest Analyst Interview . Today ' s interview is with senior analyst Sheraz Mian, who discusses TC Pipelines , Williams Companies and Enterprise Products Partners . via Earth Times

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Apr 11, 2008 | The Canadian Press | Posted by The Canadian Press

With 2 LNG setbacks, TransCanada could look to Gulf of Mexico next: analysts

“They would probably have to partner up with somebody who can deliver on the LNG supply side and that's not really that easy to do”

- TransCanada Corp. (TSX:TRP) is now 0-2 in its efforts to feed liquefied natural gas into its massive North American pipeline network, with the New York State government denying approval of a proposed terminal off Long Island Sound.

But analysts say the major Canadian pipeline builder's LNG strategy is not dead yet.

In February, TransCanada and partner Petro-Canada (TSX:PCA), suspended a $1-billion regasification facility planned for Gros Cacouna, Que. The decision came after Russian oil giant OAO Gazprom scrapped the LNG plant from which the companies had hoped to get their supply. Read more

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Related Topix: Energy, Oil & Gas, Canada, TransCanada

Apr 11, 2008 | Earth Times

BP, Conoco Phillips float 30-billion-dollar Alaska pipeline plan

“It will allow us to keep our North Slope fields in production for another 50 years.”

Oil giants BP and Conoco Phillips have stirred debate in Alaska on Wednesday with their plan to invest an estimated 30 billion dollars in an Alaska pipeline - a direct challenge to a project by TransCanada that ... via Earth Times

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Apr 10, 2008 | Seattle Post-Intelligencer

Pipeline companies eyeing Wyoming gas for exports

“That's what the open seasons are designed to root out.”

Several companies are vying to build pipelines to export Wyoming's natural gas to the Upper Midwest and West Coast. via Seattle Post-Intelligencer

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Apr 10, 2008 | The Globe and Mail

NY expected to reject TransCanada gas terminal

“Our determination to straightjacket this project has certainly carried the day in New York and we have saved the Sound for ourselves and future generations.”

Connecticut officials are praising an anticipated announcement from their counterparts in New York rejecting a $700-million bid by a consortium including TransCanada Pipelines Ltd. via The Globe and Mail

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Related Topix: Energy, Oil & Gas, TransCanada

Apr 9, 2008 | Domain-B

BP, ConocoPhillips join hands to build $30 billion Alaskan gas pipeline

“The Alaska gas pipeline will be an historic project and we are pleased to be working with ConocoPhillips to move it forward.”

BP and ConocoPhillips announced today that they have combined resources to start work on Denali, the Alaska gas pipeline. via Domain-B

1 comment

Apr 7, 2008 | Canadian Business Magazine

TransCanada taking bids for capacity on gas pipeline from Rockies to Midwest

“TransCanada is evaluating different options to move an increasing supply of natural gas from the Rocky Mountains”

TransCanada Corp. launched a bidding process Monday to gauge interest in a proposed pipeline that would move natural gas from the U.S. Rockies to the Midwest. via Canadian Business Magazine

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Apr 6, 2008 | Forbes.com

National Grid Reaps A Pretty Price

“It seems like National Grid did get a good deal.”

Shares in British-based energy distributor National Grid powered up Tuesday after it sold a New York power plant. via Forbes.com

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Apr 4, 2008 | The Globe and Mail

Hal Kvisle: Powering the lights of Broadway

“And what we liked about power was that if you understand the natural gas market, you understand power as well.”

The market thought differently. TransCanada shares fell almost 10 per cent this week, as shareholders fretted both over the costs of financing the $2.8-billion acquisition during a global credit squeeze, and ... via The Globe and Mail

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Related Topix: Energy, Oil & Gas, TransCanada

Apr 3, 2008 | KTIV-TV Sioux City

TransCanada Takes Landowners To Court

The company building the Keystone pipeline from Canada through the Midwest has started court action against some landowners along the North Dakota route. via KTIV-TV Sioux City

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Apr 3, 2008 | London Free Press

TransCanada expands south

“From a trading perspective, the potential for a sizable equity issue and dilution for the first two years of ownership are unlikely to be enthusiastically greeted by the market”

Energy giant TransCanada Corp. has agreed to buy the Ravenswood generating station in New York City for US$2.8 billion, a major move by Canada's largest natural gas shipper into a lucrative new market. via London Free Press

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Related Topix: Energy, Oil & Gas, TransCanada

Apr 2, 2008 | Globeinvestor.com

TransCanada charts U.S. course

“It fits strongly with TransCanada's strategy to grow our power business in markets where our assets, expertise and financial strength enable us to be a strong competitor and reliable energy provider.”

In a further shift away from its roots as a Canadian pipeline operator, TransCanada Corp. via Globeinvestor.com

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Related Topix: Canada, Energy, Oil & Gas, TransCanada

Apr 1, 2008 | The Canadian Press | Posted by The Canadian Press

Maxim Power committed to growing business in U.S. Northeast

“We think we've got a good option there in terms of opportunities to fuel power plants or look at opportunities to seek value in the international coal markets”

- Maxim Power Corp.'s (TSX:MXG) chief executive says the power producer is "committed" to growing its business in the Northeastern United States, a key market where he says companies do not necessarily need to spend a bundle to get a foothold.

The Calgary-based company expects to close its $20-million acquisition of the Forked River generating station in Ocean County, N.J. early in this quarter.

"It's a great piece of business for us in terms of the quality of the contract, the quality of the asset and the market," Maxim CEO John Bobenic told an analyst conference call Tuesday. Read more

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