Bill Houston’s Post

TC Energy Corp. has completed the northern portion of its Southeast Gateway natural gas offshore pipeline project that would supply underserved areas along the Yucatán Peninsula. Comparable earnings from TC Energy's (TRP) Canada, U.S. and Mexico natural gas segments rose 8.7% to $2.37B from $2.18B in the same period last year, as deliveries on its NGTL system, which transports natural gas from Alberta and northeastern B.C. to Canadian and U.S. markets, averaged 15.3B cf/day; the system also achieved a new single-day delivery record of 17.3B cf/day. In the U.S., TC Energy's (TRP) gas pipelines saw average flows rise more than 5% Y/Y to 30B cf/day, setting delivery records for overall the U.S. natgas portfolio and specific assets including Columbia Gas, Columbia Gulf and Great Lakes Gas Transmission. "Natural gas demand growth is continuing in powering the U.S. as electricity demand grows," CEO François Poirier said on the company's earnings conference call, according to Bloomberg, adding that 2023 was "a record year for power burn across the U.S. and that strength is continuing into 2024." https://lnkd.in/guFvsRpX

📢 Big Deal Alert! 📢 CPS Energy has finalized a significant acquisition, acquiring Talen Energy Corporation's gas generation portfolio, boosting our power capacity by a substantial 1,710-megawatts (MW) in the South Zone of the ERCOT (Electric Reliability Council of Texas) market! What's included in this transformative acquisition? We've secured ownership of 3 natural gas plants situated in Corpus Christi and Laredo, Texas. Why is this such a monumental achievement? It aligns seamlessly with CPS Energy's strategic long term generation plan, ratified by our Board of Trustees in 2023. The initiative involves phasing out older coal and gas units and ushering in more efficient gas generation, alongside solar, wind, and energy storage, all aimed at sustaining the growing San Antonio community's energy needs. The acquisition plays a pivotal role in bolstering resiliency and reliability for our customers. CPS Energy is committed to retiring older, less efficient generation capacity while ramping up their renewable energy endeavors. With these new assets in place, they're positioned to achieve San Antonio's emissions reduction objectives by 2030. Plus, we retained operations employees at these sites under CPS Energy's wing. It's a win-win situation for all parties involved! CPS Energy continues to move ahead towards a brighter, more sustainable future! 🌞 #CPSenergy #RenewableEnergy #PoweringTheFuture

More big Oil & Gas moves are happening! Vital Energy & Northern Oil & Gas are acquiring Point Energy Partners for $1.1 Billion. Vital Energy announced it will acquire the assets of Point Energy Partners, which operates in the Permian. The agreement was signed in partnership with Northern Oil & Gas. Vital Energy agreed to acquire 80% of the Point Energy assets, with Northern Oil & Gas acquiring the remaining 20% of Point Energy assets. What do you think? Northern Oil & Gas has come a long way from being a non-op player in the Bakken, right?! Hope your summer vacations are wrapping up well, O&G friends! #oilgas #oilandgas #petroleum #oilandgasindustry #energy #energystrong

National Grid PLC and Constellation Energy have reached an agreement for an LNG supply deal at a Massachusetts facility. This deal marks a significant step towards ensuring a stable energy supply for the region. The partnership between these two industry leaders highlights the importance of collaboration in the energy sector. #NationalGrid #ConstellationEnergy

Energy distribution through pipeline infrastructure plays a critical role in the energy security and economic growth of a country... Our #TrendOfTheWeek examines key energy-producing countries across various regions that prioritize gas pipeline infrastructure as a primary means of energy distribution. This analysis underscores the capacity of these countries to respond to evolving local and global energy demands through the strategic development of their gas pipeline networks. Stay tuned for our upcoming analysis on countries with a higher reliance on oil pipeline infrastructure compared to gas pipeline networks. Contact us today to see how bMark™ can be integrated into your workflow. https://lnkd.in/e3G-rmxH

NYMEX Natural Gas pricing is trading below $ 2 MMBtu this morning, driven by a combination of factors including a warmer than normal winter (less heating demand), robust natural gas production, and healthy natural gas storage levels compared to the 5-year average. This is a significant opportunity for large consumers of energy to lock in attractive rates for electric & gas supply, as energy markets remain uncertain and the potential for higher pricing is much greater than the potential for a further decline. And gas below $ 2 may lead to production cuts, which impacts the balance of supply and demand. EnerConnex, LLC is a leading energy advisory firm focused on energy procurement, renewables, and sustainability. With access to one of the supplier networks, a proprietary pricing platform, extensive industry experience, we tailor energy procurement strategies based on our clients’ specific needs and sustainability goals. Contact me Howard Levine a free consultation! Pricing Source: https://lnkd.in/em_wP7EP #naturalgas #electricity #energyprocurement #facilities #costcontrol #enerconnex 

@RystadEnergy - The oil and gas industry is expected to spend more than $1 trillion over the next decade on natural gas supply, driven primarily by demand in Europe . Call PRI at 847-673-1959 to build an appropriate long-term energy strategy. #energy #natgas #europe #prospectresources

@RystadEnergy - The oil and gas industry is expected to spend more than $1 trillion over the next decade on natural gas supply, driven primarily by demand in Europe . Call PRI at 847-673-1959 to build an appropriate long-term energy strategy. #energy #natgas #europe #prospectresources

The Bureau of Ocean Energy Management announced it is issuing the Proposed Notice of Sale (PNS) for the next Gulf of Mexico wind lease sale. The proposed lease sale includes four areas offshore Louisiana and Texas, totaling 410,060 acres. The Proposed Sale Notice will publish in the Federal Register March 21, 2024, initiating a 60-day public comment period ending on May 20, 2024. If BOEM decides to proceed with the auction, the next step would be publication of a Final Sale Notice.  Consistent lease sales, including for oil and gas and wind energy, are essential for maintaining a steady flow of energy production. Periods of inactivity in lease sales only serve to heighten uncertainty and risk pushing investment dollars overseas. Sustaining regular lease sales ensures energy continuity, fosters economic growth, and keeps the United States competitive in the global energy market We applaud BOEM's announcement and urge Congress to continue bipartisan efforts in legislating offshore lease sales for both oil and gas and wind energy at regular intervals.

So you want to electrify natural gas for heating? Let’s look at that…. In our last post we focussed on Alberta the associated peak energy use during the January cold snap. We include those data again but move our sights to see what peak gas and electricity demand was in Saskatchewan and British Columbia. On January 12th, FortisBC, the province’s largest gas energy distributor, delivered a record peak of 21,763 MW of energy. In comparison, BC Hydro, the primary electricity provider set a record at 11,300 MW. Nearly 100% more energy flowed through FortisBC gas system. Looking east, records were set on both the gas and electricity systems with SaskEnergy, the province’s gas distributor delivering 19,700 MW of gas energy with SaskPower delivering 3,810 MW on the electric system. In summary, gas energy delivered between 100 – 900% more energy than the electric system during the cold snap in January. The scale of gas use, and what it would cost to replace it with electricity, is an area often overlooked in the policy push around electrification. My question is this: how do any of these provinces replace gas energy over the long term given the set of circumstances that transpired in January?