Friday, June 16, 2006

FERC Approves 3 LNG Facilities

A Warm Winter and yesterday's FERC approval of three new LNG facilities seems to be doing wonders for Natural Gas supplies in the Eastern U.S.

It is, unfortunately for consumers, a situation that may not last. Energy traders are still pricing futures contracts at high levels, and natural gas producers are planning for big increases in U.S. demand over the coming years. Yesterday, the Federal Energy Regulatory Commission approved proposals to build three new terminals and expand two others that together would triple the nation's capacity to import liquefied natural gas (LNG). One of those projects is an expansion of the LNG terminal at Cove Point in Calvert County, Md.

Now if only they could do something for natural gas supplies in California!