Black Bear Transmission has agreed to acquire six intrastate natural gas pipelines spanning approximately 1,400 miles in Alabama, Louisiana and Mississippi from a subsidiary of Third Coast Midstream. The transaction marks Black Bear’s second bolt-on acquisition, having bought the Ozark system from Enbridge in April 2020.
Natural gas spot prices at the U.S. Henry Hub have fallen to historic lows despite rising gas-burn for power generation. Production keeps exceeding demand, with feedgas for liquefaction and export at low levels of around 4.0 billion cubic feet per day (Bcf/d) so far in June and storages filling fast.
Energy demand in the UK has started to recover from a 15-20% plunge, incurred by coronavirus lockdowns. According to Cornwall Insight, transmission system electricity demand rose to just below 0.64 TWh on Friday, June 19, but is still below the 0.70 TWh recorded in 2019 on similar days in late June.
Power storage specialist Qinous is being expanded into Rolls-Royce’s new Mircogrid Competence Center. The UK engine maker acquired a 73.1% stake in the Berlin-based startup in January with a view to pooling its microgrid and energy storage business in one of Europe’s largest renewable energy markets.
Imports of Canadian pipeline gas to the western United States have fallen substantially as spot prices at the NOVA/AECO-C (AECO) trading hub in Alberta reached near parity with Henry Hub. In April and May, imports fell to an average of 6.2 billion cubic feet per day (Bcf/d), according to Genscape pipeline flow estimates.