Spectra Energy Builds a Business

Size: px
Start display at page:

Download "Spectra Energy Builds a Business"

Transcription

1 » Introducing Spectra Energy Builds a Business CEO Fowler on Challenges Ahead By Martin Rosenberg Natural gas once again looms as an important fuel for electricity generation, given a spate of cancellations of proposed coal-burning generation plants. So says Fred Fowler, the president and chief executive of Spectra Energy. Spectra was formed a year ago when the leaders of Duke Energy decided to shed natural gas properties picked up several years earlier when different growth strategies reigned. Both companies have said that they are poised to profit from becoming pure plays in natural gas and electricity. As for Spectra s approach to its natural gas business, Fowler says, the operative word is building. EnergyBiz recently interviewed Fowler. Asked if he is enjoying the challenges before him, the 62-year-old executive said, I m having a blast. His comments, edited for length and style, follow. ENERGYBIZ Spectra Energy is investing $4 billion in its core businesses between 2007 and Nationally, is there enough being invested in natural gas infrastructure? FOWLER It s progressing pretty nicely. We ve been through 20 pretty tough years in the engineering and construction business. They downsized a lot, and suddenly we re in this huge building phase. We have seen a real tightness in the supply of labor. ENERGYBIZ You recently announced plans for $1.5 billion in capital expenditures in What kind of work are you engaged in? FOWLER Some are organic growth projects that are expansion projects around our existing asset base. We also have projects that are new assets that we re going to build. The big investment today really is in our gas transmission business. ENERGYBIZ How good is the natural gas infrastructure in the United States? Is there enough transmission? Is there enough processing? Is there enough storage? FOWLER We have new, nonconventional gas reserves that have been discovered in recent years. As a result of higher gas prices here, it made possible going after some reserves that made no sense at $2 and $3 per million cubic feet. ENERGYBIZ Where are they? FOWLER The big one is in the Rockies. In addition, they are in north Texas, Oklahoma and Arkansas. They have turned out to be much bigger than anybody thought they were going to be. What s driving a lot of the infrastructure is getting that gas either connected into the national grid or getting it relocated into the better pricing points in the national grid. The markets that we serve, the East Coast, want access to the Rockies gas. The last decade has seen a big loss of reserves on the continental shelf of the Gulf Coast. We ve probably lost somewhere around 10 to 11 billion cubic feet a day of production out of there. The gas in the Rockies has pretty much replaced that. ENERGYBIZ When the Rockies Express pipeline is complete and gas in the Rockies can be tapped, do you see natural gas prices moderating a bit? FOWLER Longer term yes. But what is really critical to getting gas prices to continue to be competitive is getting more liquefied natural gas coming into this country. I don t think the domestic gas producers in the United States and Canada are going to be able to keep up with the demand and growth in North America. ENERGYBIZ Electricity generators favored natural gas, then coal. Will natural gas once again be favored by power generators? FOWLER They favor it right now. A lot of gas-fired generation got built in the 1990s and early 2000s. It got overbuilt. So you ve got this existing base just sitting there, with underutilized gas facilities particularly in markets like the Northeast and the Southeast. For baseload plants, clearly coal and nuclear are probably the best way to go. But for peaking and intermediate load, gas is really much more economical because the plants cost less and they re so much more flexible on how they can ramp up and ramp down. We re trying to figure out what the emission regulations are going to be so people have a good feel for what the economics really are. Realistically, for any baseload generation to be built, it s at least a decade away. For the next 10 years, this country is going to be very dependent on gas-fired generation. ENERGYBIZ What have been the main surprises since Duke Energy spun off its natural gas business at the beginning of 2007, forming Spectra Energy? FOWLER How well things have gone. You know, doing this spin-off is a little more complicated than it really sounds. It s somewhat like unscrambling an egg. I ve been very pleased with how we ve continued to execute on the big capital expansion plan that we have. One of the bigger surprises that I ve had has been how hard it s been for us in establishing our new identity. 76 EnergyBiz March/April 2008

2 Fred Fowler PHOTO COURTESY OF Spectra Energy ENERGYBIZ The company started as the old Panhandle Eastern in 1929? FOWLER That is correct. We spun off the Midwest pipes in 1999 and later sold them to Southern Union. ENERGYBIZ Describe your Canadian gas distribution business. Do you distribute gas in the United States? FOWLER No. The only distribution that we have is in Ontario, Canada. It s Union Gas, which is really made up of three distinct businesses. It is the second-largest local distribution company in Canada. It also has a very major and high-quality underground gas storage position. And it also has a transmission business that takes gas from both mid-western and western Canadian pipelines and distributes it to several eastern Canada and northeast U.S. pipelines. ENERGYBIZ Do you aspire to own any distribution in the United States? FOWLER That s really not our focus. Our focus is more at the wholesale level. Today, our assets are primarily natural gas and natural gas liquids. Going forward, we would like to broaden that back into petroleum products and crude oil, and the transfer and transportation business around those as well. ENERGYBIZ You have 17,500 miles of transmission. FOWLER It s in the United States, British Columbia and Ontario. We have refocused the company over the last decade much more toward eastern U.S. markets because they re the fastest-growing markets in the United States. ENERGYBIZ You also have 265 billion cubic feet of storage? FOWLER We ve got 150 billion cubic feet at the Dawn storage facility, more than 75 billion cubic feet on the Texas Eastern system in Pennsylvania as well as other facilities. ENERGYBIZ Describe your gas gathering and processing efforts. FOWLER We have two pieces in western Canada, primarily in British Columbia. In the U.S. we have a joint venture with ConocoPhillips that s the largest producer of gas liquids in the United States. We have about 56 processing plants which produce about 360,000 barrels a day of natural gas liquids. ENERGYBIZ Describe the structure of Spectra Energy. FOWLER Spectra is really made up of two businesses. One is our gas transmission business that we own 100 percent. Our joint venture in the gathering and processing business in the lower 48 states is with ConocoPhillips. About 60 percent of our net income comes from our gas transmission business. About 40 percent of it comes from the U.S. gathering and processing joint venture, DCP Midstream. ENERGYBIZ You have 7,300 employees. How hard has it been to get them all rowing in the same direction? FOWLER Actually, I think since the spin-off, it s been a lot simpler. That s one of the things I love about the spun EnergyBiz 77

3 » INTROdUCING IT S very clear To our employees what we need To do To be SUcceSSfUL. out companies. I love the simplicity of our story, both from the standpoint of explaining it to Wall Street and investors, but also in how you can really motivate your employees. It s very clear to our employees what we need to do to be successful. ENERGYBIZ Well, when the spin-off took place, James Rogers, the CEO of Duke Energy, said the remaining pure-play electric company would have an annual earnings growth through the end of 2009 in the range of 4 to 6 percent. Do you expect that kind of result on the gas side? FOWLEr I think we should see slightly larger growth than that. We re projecting 5 to 7 percent growth. ENERGYBIZ FOWLEr So, pure play has worked for both of you? Yes. ENERGYBIZ What would you say today is the greatest misunderstanding about the gas business in the United States? FOWLEr Consumers probably don t appreciate what a great value natural gas is today. Gas today sells at literally half of what oil is selling for on a British thermal unit equivalent basis. So if you were heating your home today with oil, you d probably be paying twice as much as you re paying for natural gas. SpEcTra ENErGy Net income 2006: $919 million Operating revenue 2006: $4.5 billion Net income 2007: $969 million Operating revenue 2007: $4.7 billion Employees: 7,300 Transmission pipeline: 17,500 miles Storage capacity: 265 billion cubic feet ENERGYBIZ You say we need more LNG. Is that generally understood? FOWLEr I don t think it s appreciated enough. We ve been having extremely high gas prices now for quite a few years. All we ve been able to do in North America is basically just stay even on production, even at these high prices and at record levels of drilling. Canada is going to be using a lot more of its own gas than it has historically so we re going to be getting less gas out of Canada. But the market continues to grow, primarily driven by electric generation. So to me, we are at a point where we re going to be dependent on foreign sources of gas. What I don t want to see is for us as a nation to make the same mistake on natural gas that we made on crude oil, where we overproduced our domestic resource and became over-dependent on foreign sources. We need to bring in foreign sources of gas at a time when we still do have a healthy domestic resource base that can help keep prices lower. ENERGYBIZ Will Spectra Energy get involved with LNG production and transportation? FOWLEr We do not want to be a commodity player. We want to be an infrastructure player and a service player. 78 EnErgyBiz March/April 2008

4 ThE GENESiS of SpEcTra ENErGy 1929 Panhandle Eastern Pipeline Co. formed 1989 Panhandle Eastern Corp. merges with Texas Eastern 1996 Formal name change to PanEnergy Corp. We are expanding our underground storage position. We think LNG is going to dramatically increase the need for storage in the United States. ENERGYBIZ You have said that Spectra Energy has had a bit of an identity crisis since it was formed one year ago. How would you like it to be perceived? FOWLEr I want it to be perceived as a natural gas empire an energy infrastructure company PanEnergy merges with Duke Power to form Duke Energy Corp Spectra Energy formed as result of Duke Energy spin-off of gas operations NO OTHER EVENT COMES CLOSE TO OFFERING THE DEPTH AND SCOPE OF CONTENT AT ELECTRIC POWER COAL. GAS. NUCLEAR. RENEWABLES. It is all covered at the world s leading conference for the power generation industry. May 6 8, 2008 Baltimore Convention Center For information on attending or exhibiting visit or call EPad_7.25x4.75.indd 1 2/4/08 12:22:06 PM EnErgyBiz 79

5 4 EnergyBiz March/April 2008

Spectra Energy Reports Fourth Quarter and Year-End 2007 Results

Spectra Energy Reports Fourth Quarter and Year-End 2007 Results Media: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) Analysts: John Arensdorf (713) 627-4600 Date: February 6, 2008 Spectra Energy Reports Fourth Quarter and Year-End 2007 Results Fourth

More information

Spectra Energy Reports Second Quarter 2008 Results, Net Income Up 51 Percent from Prior Year

Spectra Energy Reports Second Quarter 2008 Results, Net Income Up 51 Percent from Prior Year Media: Analysts: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: August 6, 2008 Spectra Energy Reports Second Quarter 2008 Results, Net Income Up 51 Percent

More information

Spectra Energy Reports Third Quarter 2007 Results

Spectra Energy Reports Third Quarter 2007 Results Media: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) Analysts: John Arensdorf (713) 627-4600 Date: November 6, 2007 Spectra Energy Reports Third Quarter 2007 Results Third quarter ongoing

More information

Spectra Energy Reports Second Quarter 2007 Results

Spectra Energy Reports Second Quarter 2007 Results Media: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) Analysts: John Arensdorf (713) 627-4600 Date: August 6, 2007 Spectra Energy Reports Second Quarter 2007 Results Second quarter reported

More information

(713) 627-5353 (713) 627-4747 (24-hour media line) (713) 627-4600. Date: May 3, 2013

(713) 627-5353 (713) 627-4747 (24-hour media line) (713) 627-4600. Date: May 3, 2013 Media: Analysts: Caitlin Currie (713) 627-5353 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 3, 2013 Spectra Energy Reports First Quarter 2013 Results Reported net income

More information

Spectra Energy Reports First Quarter 2009 Results

Spectra Energy Reports First Quarter 2009 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 5, 2009 Spectra Energy Reports First Quarter 2009 Results Reported net income (controlling

More information

Spectra Energy Reports Fourth Quarter and Year-End 2011 Results

Spectra Energy Reports Fourth Quarter and Year-End 2011 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: February 2, 2012 Spectra Energy Reports Fourth Quarter and Year-End 2011 Results Company

More information

Spectra Energy Reports Second Quarter 2014 Results Quarter in Line with Company Plans; On Track to Exceed Full-Year EBITDA Targets

Spectra Energy Reports Second Quarter 2014 Results Quarter in Line with Company Plans; On Track to Exceed Full-Year EBITDA Targets Date: August 6, 2014 Spectra Energy Reports Second Quarter 2014 Results Quarter in Line with Company Plans; On Track to Exceed Full-Year EBITDA Targets 12 percent increase in distributable cash flow quarter-over-quarter

More information

Spectra Energy Reports First Quarter 2012 Results

Spectra Energy Reports First Quarter 2012 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 4, 2012 Spectra Energy Reports First Quarter 2012 Results Reported net income from

More information

North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future

North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future Updated Supply Demand Outlook Background Executive Summary June 28, 2011 Sufficient midstream natural gas infrastructure,

More information

Reshaping Natural Gas Infrastructure:

Reshaping Natural Gas Infrastructure: Reshaping Natural Gas Infrastructure: Connecting New Supply to Liquid & Growing Markets Steve Pardy Manager, Business Development Oct. 24, 2012 Agenda Union Gas and Dawn Growing Ontario Demand Changing

More information

Natural Gas: Winter 2012-13 Abundance! and Some Confusion

Natural Gas: Winter 2012-13 Abundance! and Some Confusion Natural Gas: Winter 2012-13 Abundance! and Some Confusion NASEO Winter Fuels Outlook Washington, D.C. October 10, 2012 Bruce B. Henning Vice President, Energy Regulatory and Market Analysis BHenning@icfi.com

More information

investigating where the oil industry puts it money, then find programs that emulate that, i.e. follow the money.

investigating where the oil industry puts it money, then find programs that emulate that, i.e. follow the money. WHY SHOULD FINANCIAL PLANNERS CONSIDER DIRECT OIL & GAS INVESTMENT PROGRAMS FOR THEIR CLIENTS? BY Martin J. Cohen, Cfp tm And Steven King, President Petroinvest Llc Should asset allocation in direct participation

More information

Statement for the Record

Statement for the Record Statement for the Record Kevin R. Hennessy Director Federal, State and Local Affairs New England Dominion Resources, Inc. Infrastructure Needs for Heat and Power Quadrennial Energy Review Task Force April

More information

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS I. Summary NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS This brief white paper on natural gas prices is intended to discuss the continued and sustained level of natural gas prices at overall higher levels.

More information

Adding fuel to the fire North America s hydrocarbon boom is changing everything. Steven Meersman. Roland Rechtsteiner

Adding fuel to the fire North America s hydrocarbon boom is changing everything. Steven Meersman. Roland Rechtsteiner Adding fuel to the fire North America s hydrocarbon boom is changing everything Steven Meersman Mark Pellerin Roland Rechtsteiner What if the gasoline that you put in your car came from natural gas instead

More information

Electricity Demand and Supply in Myanmar

Electricity Demand and Supply in Myanmar RAJAWALI FOUNDATION INSTITUTE FOR ASIA Electricity Demand and Supply in Myanmar Prepared for Proximity Designs Myanmar This research paper was written by David Dapice (David_Dapice@harvard.edu), of the

More information

Natural Gas Markets Update for the Ethanol Industry. Identifying Market Fundamentals and Managing Price Risk

Natural Gas Markets Update for the Ethanol Industry. Identifying Market Fundamentals and Managing Price Risk Natural Gas Markets Update for the Ethanol Industry Identifying Market Fundamentals and Managing Price Risk Presentation Outline Natural Gas Market Update Demand Issues Supply Issues Implications for Ethanol

More information

Oil and Gas U.S. Industry Outlook

Oil and Gas U.S. Industry Outlook Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing

More information

J.P. Morgan Energy Conference

J.P. Morgan Energy Conference J.P. Morgan Energy Conference June 27, 2016 Don Marchand, Executive Vice President, Corporate Development and Chief Financial Officer Forward Looking Information and Non-GAAP Measures This presentation

More information

a leading North American energy infrastructure company

a leading North American energy infrastructure company CORPORATE PROFILE a leading North American energy infrastructure company December 2012 Building and operating safe and reliable energy infrastructure it is what we do and we do it well. Millions of people

More information

Join Together With Demand:

Join Together With Demand: A RBN Energy Drill Down Report Copyright 2015 RBN Energy Join Together With Demand: The Who and How of Marcellus/Utica Midstream MarkWest Processing and Fractionation Plants 1. Introduction RBN Pipeline

More information

LECET MARKET SUMMARY NATURAL GAS PIPELINE DEPLOYMENT

LECET MARKET SUMMARY NATURAL GAS PIPELINE DEPLOYMENT LECET MARKET SUMMARY NATURAL GAS PIPELINE DEPLOYMENT MARKET FUNDAMENTALS The market for the construction of natural gas pipelines continues to be strong and promises significant growth in the United States

More information

Access Northeast Project New England Energy Reliability Solution

Access Northeast Project New England Energy Reliability Solution Access Northeast Project New England Energy Reliability Solution Open Season Notice for Firm Service February 18, 2015 May 1, 2015 Access Northeast Project New England Energy Reliability Solution Eversource

More information

Canada's Natural Gas Crisis

Canada's Natural Gas Crisis Canada's Natural Gas Crisis By Keith Kohl Tuesday, January 22nd, 2013 Canada is the last place you'd expect to see a natural gas crisis. But unfortunately for our neighbors to the north, one has been silently

More information

Williams deal poises Energy Transfer to become one of the largest energy franchises in world

Williams deal poises Energy Transfer to become one of the largest energy franchises in world Williams deal poises Energy Transfer to become one of the largest energy franchises in world By CASEY SMITH World Business Writer Posted: Sunday, October 11, 2015 12:00 am During Energy Transfer Equity

More information

Modeling the US Natural Gas Network

Modeling the US Natural Gas Network Modeling the US Natural Gas Network James Ellison Sandia National Laboratories, Critical Infrastructure Modeling and Simulation Group Abstract In order to better understand how the US natural gas network

More information

Remarks of Terrance J. Fitzpatrick President and CEO Energy Association of Pennsylvania March 10, 2011

Remarks of Terrance J. Fitzpatrick President and CEO Energy Association of Pennsylvania March 10, 2011 Informational Committee Meeting on the Natural Gas Industry Before the Consumer Affairs Committee Pennsylvania House of Representatives Remarks of Terrance J. Fitzpatrick President and CEO Energy Association

More information

Renewable Energy Mandates Cost Texas Consumers. Bill Peacock Texas Public Policy Foundation

Renewable Energy Mandates Cost Texas Consumers. Bill Peacock Texas Public Policy Foundation Renewable Energy Mandates Cost Texas Consumers Bill Peacock Texas Public Policy Foundation Why Advocates Support Renewable Energy Mandates Mandates promote a sensible energy policy which Protects against

More information

On October 21, 2008, the Federal Reserve

On October 21, 2008, the Federal Reserve Anticipated Recession Effects Gas Prices Natural Gas Prices in a Recession This is a preprint of an article published in Natural Gas & Electricity 2008, Dec., Wiley Periodicals, Inc. http://www3.interscience.wiley.com/cgi-bin/jhome/105559587

More information

Global Oil and Gas Capital Expenditure Outlook 2010: National Oil Companies (NOCs) to Drive Investment

Global Oil and Gas Capital Expenditure Outlook 2010: National Oil Companies (NOCs) to Drive Investment Global Oil and Gas Capital Expenditure Outlook 21: GlobalData s new report Global Oil and Gas Capital Expenditure Outlook 21: National Oil Companies (NOCs) to Drive Investment provides in-depth analysis

More information

Spectra Energy Reports Fourth Quarter and Year-End 2015 Results

Spectra Energy Reports Fourth Quarter and Year-End 2015 Results Date: February 3, 2016 Spectra Energy Reports Fourth Quarter and Year-End 2015 Results Year-End Highlights: 2015 distributable cash flow of $1.3 billion, with dividend coverage ratio of 1.3x, exceeding

More information

Led by growth in Texas, the Southeast, and Northeast, power burn is headed for a January record

Led by growth in Texas, the Southeast, and Northeast, power burn is headed for a January record EIA - Natural Gas Weekly Update for week ending January 28, 2015 Release Date: January 29, 2015 Next Release: February 5, 2015 In the News: Led by growth in Texas, the Southeast, and Northeast, power burn

More information

Customers, carbon and costs: A new business model now?

Customers, carbon and costs: A new business model now? Customers, carbon and costs: A new business model now? Al Monaco, President and CEO, Enbridge Inc. May 26, 2016 address to PricewaterhouseCoopers 7 th annual Energy Visions Business Forum Main Ballroom

More information

PROJECT EXPERIENCE Development/Transaction Support United States MANAGING DIRECTOR

PROJECT EXPERIENCE Development/Transaction Support United States MANAGING DIRECTOR Peter Abt Mr. Abt is a Managing Director in Black & Veatch s Management Consulting Division. He leads the division s Oil & Gas Strategy practice and holds primary responsibility for client management and

More information

Canada s Energy Sector in a Changing Global Market. Kristi Varangu Director, International Energy Division March 10, 2014

Canada s Energy Sector in a Changing Global Market. Kristi Varangu Director, International Energy Division March 10, 2014 Canada s Energy Sector in a Changing Global Market Kristi Varangu Director, International Energy Division March 10, 2014 2 Purpose Illustrate the profound changes that are taking place in global and North

More information

Coal-Fired Power Plant Construction Costs

Coal-Fired Power Plant Construction Costs Coal-Fired Power Plant Construction Costs July 2008 AUTHORS David Schlissel, Allison Smith and Rachel Wilson Introduction Construction cost estimates for new coal-fired power plants are very uncertain

More information

Understanding. Natural Gas Markets

Understanding. Natural Gas Markets Understanding Natural Gas Markets Table of Contents Overview 1 The North American Natural Gas Marketplace 3 Understanding Natural Gas Markets Natural Gas Demand 9 Natural Gas Supply 12 Summary 25 Glossary

More information

Texas: An Energy and Economic Analysis

Texas: An Energy and Economic Analysis Texas: An Energy and Economic Analysis Posted on 9/30/2013 Texas leads the nation in oil and natural gas reserves and production. In just over 2 years, Texas has doubled its oil production with large quantities

More information

Outlook for the North American and Ontario Gas Markets

Outlook for the North American and Ontario Gas Markets Outlook for the North American and Ontario Gas Markets Union Gas Customer Meeting London, Ontario June 5, 2014 Presented by: Frank Brock Senior Energy Market Specialist ICF International Frank.Brock@ICFI.COM

More information

Economic and Business Perspectives of the Shale Gas/Oil Industry

Economic and Business Perspectives of the Shale Gas/Oil Industry Economic and Business Perspectives of the Shale Gas/Oil Industry Opportunities, challenges and perspectives for shale gas/oil development Mel Ydreos Vice Chairman, International Gas Union VP Government

More information

Annual Energy Outlook 2015

Annual Energy Outlook 2015 For Columbia University New York, NY By Adam Sieminski U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Key results from (AEO215)

More information

Effect of Increased Natural Gas Exports on Domestic Energy Markets

Effect of Increased Natural Gas Exports on Domestic Energy Markets Effect of Increased Natural Gas Exports on Domestic Energy Markets as requested by the Office of Fossil Energy January 2012 This report was prepared by the U.S. Energy Information Administration (EIA),

More information

Questar Corporation First-quarter 2011 earnings teleconference script Kevin Hadlock, Executive Vice President and CFO April 27, 2010

Questar Corporation First-quarter 2011 earnings teleconference script Kevin Hadlock, Executive Vice President and CFO April 27, 2010 Questar Corporation First-quarter 2011 earnings teleconference script Kevin Hadlock, Executive Vice President and CFO April 27, 2010 Thank you, Michelle [operator]. Good morning, everyone, and thank you

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report February 2016 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: The North Sea Brent front month futures price settled at $34.46/b on February 4 $2.76 per barrel (b) below

More information

Imperial Oil Limited 237 Fourth Avenue S.W. Calgary, Alberta T2P 3M9 imperialoil.ca

Imperial Oil Limited 237 Fourth Avenue S.W. Calgary, Alberta T2P 3M9 imperialoil.ca Imperial Oil Limited 237 Fourth Avenue S.W. Calgary, Alberta T2P 3M9 imperialoil.ca Table of contents Our approach 1 About us 2 Our approach 4 Business segments 7 Outlook for energy to 2030 9 Safety 11

More information

JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY

JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY Testimony of Kenneth B. Medlock III, PhD James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics, and Senior Director,

More information

ALASKA NATURAL GAS PIPELINE PROJECT

ALASKA NATURAL GAS PIPELINE PROJECT ALASKA NATURAL GAS PIPELINE PROJECT Testimony on AGIA of W. H. Sparger House Resources Committee May 11, 2007 EPC Energy Project Consultants, LLC Introduction William H. (Bill) Sparger Energy Project Consultants.

More information

NEW AMERICAN ENERGY OPPORTUNITY FOUNDATION STATEWIDE SURVEY ON ENERGY OHIO

NEW AMERICAN ENERGY OPPORTUNITY FOUNDATION STATEWIDE SURVEY ON ENERGY OHIO NEW AMERICAN ENERGY OPPORTUNITY FOUNDATION STATEWIDE SURVEY ON ENERGY OHIO Statewide Survey in OH of 503 Registered Voters Kellyanne Conway, President & CEO Survey Methodology 2 Interviews conducted August

More information

SUBMISSION TO DEPARTMENT OF INDUSTRY ON THE ENERGY WHITE PAPER ISSUES PAPER

SUBMISSION TO DEPARTMENT OF INDUSTRY ON THE ENERGY WHITE PAPER ISSUES PAPER SUBMISSION TO DEPARTMENT OF INDUSTRY ON THE ENERGY WHITE PAPER ISSUES PAPER u CHAMBER OF COMMERCE AND INDUSTRY QUEENSLAND SUBMISSION 7 February 2014 1 Chamber of Commerce & Industry Queensland The Chamber

More information

NATURAL GAS PRICE VOLATILITY

NATURAL GAS PRICE VOLATILITY NATURAL GAS PRICE VOLATILITY I. Summary This brief white paper on natural gas prices is intended to discuss the potential for natural gas prices to be very volatile during the winter of 2003-04. Prices

More information

U.S. House of Representatives Subcommittee on Energy and Power: Quadrennial Energy Review and Related Discussion Drafts, including Title III

U.S. House of Representatives Subcommittee on Energy and Power: Quadrennial Energy Review and Related Discussion Drafts, including Title III U.S. House of Representatives Subcommittee on Energy and Power: Quadrennial Energy Review and Related Discussion Drafts, including Title III Energy Diplomacy Testimony by: Gerald Kepes Vice President,

More information

Natural Gas Prices and LNG's Dirty Little Secret

Natural Gas Prices and LNG's Dirty Little Secret Natural Gas Prices and LNG's Dirty Little Secret by G. Allen Brooks Parks Paton Hoepfl & Brown Musings from the Oil Patch Optimism about the ending of the U.S. recession and its impact on future demand

More information

2010 Natural Gas Market Review

2010 Natural Gas Market Review 2010 Natural Gas Market Review August 20, 2010 Submitted to: Ontario Energy Board P.O. Box 2319 2300 Yonge Street 27th. Floor Toronto ON M4P 1E4 Submitted by: ICF International 277 Wellington St. W Toronto,

More information

Hedging Natural Gas Prices

Hedging Natural Gas Prices Hedging Natural Gas Prices Luke Miller Assistant Professor of Finance Office of Economic Analysis & Business Research School of Business Administration Fort Lewis College Natural Gas Industry U.S. natural

More information

Slides prepared by the Northeast Gas Association

Slides prepared by the Northeast Gas Association Natural gas represents 27% of total energy consumption in the U.S. There are 70 million natural gas customers in the country. Gas is the leading home fuel in the country, and also is a leading fuel of

More information

Natural Gas Monthly. October 2015. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585

Natural Gas Monthly. October 2015. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585 Natural Gas Monthly October 2015 Office of Oil, Gas, and Coal Supply Statistics www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration

More information

Displacement of Coal with Natural Gas to Generate Electricity

Displacement of Coal with Natural Gas to Generate Electricity Displacement of Coal with Natural Gas to Generate Electricity The American Coalition for Clean Coal Electricity (ACCCE) supports a balanced energy strategy that will ensure affordable and reliable energy,

More information

WHY INVEST IN OIL AND GAS DRILLING VENTURES?

WHY INVEST IN OIL AND GAS DRILLING VENTURES? WHY INVEST IN OIL AND GAS DRILLING VENTURES? PECOS DEAN DEVONIAN FORMATIONS CLINE SHALE WOLFCAMP WOLFBONE SPRAYBERRY ELLENBERGER OPPORTUNITY KNOCKS IN OIL AND GAS IT S AN ENERGY-CHALLENGED WORLD Foresighted

More information

Natural Gas and LNG Business Today and Tomorrow

Natural Gas and LNG Business Today and Tomorrow Natural Gas and LNG Business Today and Tomorrow September 7, 2011 Mitsubishi Corporation Energy Business Group Junichi Iseda Senior Vice President, Division COO Natural Gas Business Division B Part 1:

More information

Global Shale Energy Development: Expanding Economics, Trends, and Implications

Global Shale Energy Development: Expanding Economics, Trends, and Implications Global Shale Energy Development: Expanding Economics, Trends, and Implications New and Historic Energy Direction with Shale Increasing share of U.S. natural gas production. 50%? 70%? (2040) Energy security

More information

CLEAN LINE ENERGY PARTNERS:

CLEAN LINE ENERGY PARTNERS: CLEAN LINE ENERGY PARTNERS: Building Transmission To Facilitate Large-Scale Renewable Energy Development Overview: Clean Line Energy Partners is developing four large transmission projects to connect areas

More information

Electric Power Grid coming to the GOLDEN TRIANGLE

Electric Power Grid coming to the GOLDEN TRIANGLE Electric Power Grid coming to the GOLDEN TRIANGLE In British Columbia Canada they call it "The Golden Triangle" because of the great geological potential of several world class mineral deposits discovered

More information

OUR CONVERSATION TODAY

OUR CONVERSATION TODAY OUR CONVERSATION TODAY Our goal is to raise the level of awareness around the natural gas supply chain among key stakeholders in order to facilitate positive working relationships and more informed decision

More information

rising Electricity Costs:

rising Electricity Costs: rising Electricity Costs: A Challenge For Consumers, Regulators, And Utilities Electricity is the lifeblood of the U.S. economy. It powers our homes, offices, and industries; provides communications, entertainment,

More information

Challenges and Opportunities for Small Businesses Engaged in Energy Development and Energy Intensive Manufacturing

Challenges and Opportunities for Small Businesses Engaged in Energy Development and Energy Intensive Manufacturing Statement of Toby Mack, EEIA President, Before the U.S Senate Committee on Small Business and Entrepreneurship July 14, 2015 Challenges and Opportunities for Small Businesses Engaged in Energy Development

More information

RENEWABLE ENERGY. The Sustainable Energy Plant.

RENEWABLE ENERGY. The Sustainable Energy Plant. RENEWABLE ENERGY The Sustainable Energy Plant. 1. 7. 2. 6. 3. 5. 4. How landfill-gas-to-energy works 1. Creating energy from landfill gas begins with collection. When taking into account homes, restaurants,

More information

The Future of Energy in Louisiana! March 2014

The Future of Energy in Louisiana! March 2014 The Future of Energy in Louisiana! March 2014 1! GNO, Inc. Overview! GNO, Inc. is the economic development organization serving the ten parishes of Southeast Louisiana.! Logo! Business Development! Business

More information

TRC Companies, Inc. (TRR) Q2 2015 Earnings Conference Call Transcript February 04, 2015

TRC Companies, Inc. (TRR) Q2 2015 Earnings Conference Call Transcript February 04, 2015 TRC Companies, Inc. (TRR) Q2 2015 Earnings Conference Call Transcript February 04, 2015 Good morning. Welcome to the TRC Companies Second Quarter Fiscal 2015 Financial Results Conference Call. Today's

More information

The Role of Natural Gas in Texas and America CEA Meeting August 24 th, 2010

The Role of Natural Gas in Texas and America CEA Meeting August 24 th, 2010 The Role of Natural Gas in Texas and America CEA Meeting August 24 th, 2010 About ANGA Our Mission America's Natural Gas Alliance exists to promote the economic, environmental and national security benefits

More information

Spectra Energy Reports First Quarter 2016 Results

Spectra Energy Reports First Quarter 2016 Results Date: May 4, 2016 Spectra Energy Reports First Quarter 2016 Results First Quarter Highlights: Distributable cash flow of $523 million and declared dividends of $284 million 2015 expansion projects at U.S.

More information

Natural Gas and Electricity Coordination Experiences and Challenges

Natural Gas and Electricity Coordination Experiences and Challenges 1 Natural Gas and Electricity Coordination Experiences and Challenges Challenges Facing the New England Power System Gordon van Welie, President and CEO, ISO New England 2015 IEEE Power & Energy Society

More information

Integrated Oil Companies

Integrated Oil Companies Integrated Oil Companies Loretta Bu Zhou Fang Suvayan Roy Patrick He Artur Shikhaleev Yang Zeng 1 Key Questions 2 Upstream, Midstream, Downstream, Equipment and Services Companies THE OIL SUPPLY CHAIN

More information

Natural Gas / Electricity and the Industrial Sector. The Dismantling of US Manufacturing

Natural Gas / Electricity and the Industrial Sector. The Dismantling of US Manufacturing Natural Gas / Electricity and the Industrial Sector The Dismantling of US Manufacturing Paul Cicio President Industrial Energy Consumers of America August, 2007 Who Are Energy Price Sensitive Industries?

More information

Natural Gas Pipeline and Storage Infrastructure Projections Through 2030

Natural Gas Pipeline and Storage Infrastructure Projections Through 2030 Natural Gas Pipeline and Storage Infrastructure Projections Through 2030 October 20, 2009 Submitted to: The INGAA Foundation, Inc. 10 G Street NE Suite 700 Washington, DC 20002 Submitted by: ICF International

More information

TALISMAN ENERGY INC. TELEPHONE CONFERENCE CALL TO REVIEW 2009 THIRD QUARTER RESULTS

TALISMAN ENERGY INC. TELEPHONE CONFERENCE CALL TO REVIEW 2009 THIRD QUARTER RESULTS Refer to Talisman s advisories in the November 3, 2009 news release concerning forward looking statements and non-gaap measures. TALISMAN ENERGY INC. TELEPHONE CONFERENCE CALL TO REVIEW 2009 THIRD QUARTER

More information

Brisbane Mining Club June Lunch 2014 David Knox Managing Director & CEO, Santos Limited

Brisbane Mining Club June Lunch 2014 David Knox Managing Director & CEO, Santos Limited Brisbane Mining Club June Lunch 2014 David Knox Managing Director & CEO, Santos Limited Thursday, 5 June Brisbane Ladies and Gentlemen Thank you for inviting me here today. Today I want to talk to you

More information

Natural Gas and Greenhouse Gases. OLLI Lectures November 2014 Dennis Silverman Physics and Astronomy UC Irvine

Natural Gas and Greenhouse Gases. OLLI Lectures November 2014 Dennis Silverman Physics and Astronomy UC Irvine Natural Gas and Greenhouse Gases OLLI Lectures November 2014 Dennis Silverman Physics and Astronomy UC Irvine Replacing Coal With Natural Gas Greenhouse Gas Reduction by Switching from Coal to Natural

More information

New Pipeline Expansions Target Emerging North American Demand Centers

New Pipeline Expansions Target Emerging North American Demand Centers RESEARCH North America Fossil Fuels Natural Gas New Pipeline Expansions Target Emerging North American Demand Centers Natural Gas Projects Address Capacity Constraints, New Markets In Canada And Mexico,

More information

Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever

Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever Alan Lammey, Sr. Energy Markets Analyst Who Is PointLogic Energy? PointLogic Energy provides

More information

How Are Texas Oil And Gas Cos. Faring In China?

How Are Texas Oil And Gas Cos. Faring In China? Portfolio Media. Inc. 860 Broadway, 6th Floor New York, NY 10003 www.law360.com Phone: +1 646 783 7100 Fax: +1 646 783 7161 customerservice@law360.com How Are Texas Oil And Gas Cos. Faring In China? Law360,

More information

South Hook Gas Company Ltd is a London-based liquefied natural gas (LNG) import company, which owns and manages the regasification

South Hook Gas Company Ltd is a London-based liquefied natural gas (LNG) import company, which owns and manages the regasification Energy for growth South Hook Gas Company Ltd is a London-based liquefied natural gas (LNG) import company, which owns and manages the regasification capacity and the gas supply from the South Hook LNG

More information

How Do Energy Suppliers Make Money? Copyright 2015. Solomon Energy. All Rights Reserved.

How Do Energy Suppliers Make Money? Copyright 2015. Solomon Energy. All Rights Reserved. Bills for electricity and natural gas can be a very high proportion of a company and household budget. Accordingly, the way in which commodity prices are set is of material importance to most consumers.

More information

Energy Megatrends 2020

Energy Megatrends 2020 Energy Megatrends 2020 Esa Vakkilainen 1 NOTE The data included in the following is mainly based on International Energy Agency's (IEA) World Energy Outlook 2007 IEA is considered the most reliable source

More information

ValueWalk.com Interview with Mark Foster, CFA, Chief Investment Officer of Kirr, Marbach & Company, LLC

ValueWalk.com Interview with Mark Foster, CFA, Chief Investment Officer of Kirr, Marbach & Company, LLC ValueWalk.com Interview with Mark Foster, CFA, Chief Investment Officer of Kirr, Marbach & Company, LLC January 23, 2012 By Jacob Wolinsky, ValueWalk.com Can you tell us a little bit about your background?

More information

Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist

Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska Remarks by Marianne Kah Chief Economist Cautionary Statement The following presentation includes forward-looking statements.

More information

2014 s Top 10 Oil Producers in the Gulf of Mexico

2014 s Top 10 Oil Producers in the Gulf of Mexico 2014 s Top 10 Oil Producers in the Gulf of Mexico The last few years have seen major oil and gas companies pushing further and further out into the American Gulf of Mexico, but which companies are having

More information

FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS

FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS For Immediate Release For Further Information Refer to: John J. Haines 260-824-2900 FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS Bluffton, Indiana July 30, 2013 - Franklin Electric

More information

NRG Energy to Combine with Texas Genco Creating the Leading Competitive Power Generation Company in the United States

NRG Energy to Combine with Texas Genco Creating the Leading Competitive Power Generation Company in the United States NEWS RELEASE FOR IMMEDIATE RELEASE NRG Energy to Combine with Texas Genco Creating the Leading Competitive Power Generation Company in the United States Transaction Valued at $5.8 Billion PRINCETON, NJ

More information

The Shale Gale Also Brings a Data Blizzard Author:

The Shale Gale Also Brings a Data Blizzard Author: The Shale Gale Also Brings a Data Blizzard Author: Jim Crompton, Subject Matter Expert Times, they are a-changing. The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency,

More information

Public Comment to EPA on New Stationary Sources Rule Sam Batkins and Catrina Rorke Docket ID No. EPA-HQ-OAR-2013-0495 May 9, 2014

Public Comment to EPA on New Stationary Sources Rule Sam Batkins and Catrina Rorke Docket ID No. EPA-HQ-OAR-2013-0495 May 9, 2014 Public Comment to EPA on New Stationary Sources Rule Sam Batkins and Catrina Rorke Docket ID No. EPA-HQ-OAR-2013-0495 May 9, 2014 Introduction We appreciate the opportunity to comment on the Environmental

More information

Sempra Pipelines & Storage

Sempra Pipelines & Storage Sempra Pipelines & Storage George Liparidis President & CEO Analyst Conference March 25, 2010 Outline Business Overview Accomplishments & Priorities Project Updates Future Opportunities Outlook 2 Sempra

More information

2015 JET FUEL PRICE FORECAST

2015 JET FUEL PRICE FORECAST 2015 JET FUEL PRICE FORECAST Airlines The prospects for airlines are dependant on economic recovery. There is little to indicate an early end to the downturn. It will be a grim 2009. And while prospects

More information

North American Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance. An INGAA Foundation Report, Prepared by ICF International

North American Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance. An INGAA Foundation Report, Prepared by ICF International North American Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance An INGAA Foundation Report, Prepared by ICF International Executive Summary March 18, 2014 Background Since the

More information

March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY

March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY Cautionary Statement The following presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues,

More information

Upside in the Energy Downturn

Upside in the Energy Downturn April 2015 Upside in the Energy Downturn Surprising opportunity arises amid downturn in energy prices One thing is certain in North America s energy industry today: not a second goes by that anything is

More information

Smart Modernization Pipeline Safety & Natural Gas Infrastructure Expansion

Smart Modernization Pipeline Safety & Natural Gas Infrastructure Expansion September 26, 2014 Smart Modernization Pipeline Safety & Natural Gas Infrastructure Expansion Kyle Rogers Vice President, Government Relations American Gas Association 2 Shale Gas Resources 3 Natural Gas

More information

Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions

Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions Prepared for: New York City Mayor s Office of Long-Term Planning and Sustainability Submitted by: ICF International

More information

CRS Report Summaries WORKING DRAFT

CRS Report Summaries WORKING DRAFT CRS Report Summaries R40147 Green Buildings This is a definition and analysis of the cost and benefits of green buildings. It also cites agencies and laws that encourage the building of environmentally

More information

Expanding Natural Gas Service: Opportunities for American Homes and Business

Expanding Natural Gas Service: Opportunities for American Homes and Business Expanding Natural Gas Service: Opportunities for American Homes and Business NARUC Staff Subcommittee on Gas Washington, D.C. February 3, 2013 Bruce B. Henning Vice President, Energy Regulatory and Market

More information