Thu Jan 17, 2008 9:47pm GMT
CALGARY, Alberta, Jan 17 (Reuters) – Completing the Broadwater LNG terminal in Long Island Sound will help smooth out natural gas price spikes in New York City, one of the project’s backers said on Thursday.
Hal Kvisle, chief executive of TransCanada Corp (TRP.TO: Quote, Profile, Research), said the regasification facility will bring badly needed natural gas to Manhattan and Long Island, relieving a supply bottleneck that pushed prices above $21 per million British thermal units during a cold snap last month.
“We’ve had $25 to $30 premiums in the New York market versus (benchmark) Henry Hub prices,” Kvisle told reporters following a speech to a Calgary conference. “That illustrates the incredible bottleneck there … and the situation is getting worse.”
Kvisle said that adding natural-gas fired power generation in New York would further exacerbate shortages and boost prices unless new supplies could reach the area.
Completing the $700 million, 1 billion cubic feet per day, Broadwater facility will add new supplies to the market and lower prices, Kvisle said.
The Broadwater LNG terminal, backed by TransCanada and Shell U.S. Gas and Power (RDSa.L: Quote, Profile, Research), is a floating facility 9 miles from shore in the middle of Long Island Sound.
The proposal received environmental approval from staff at the U.S. Federal Energy Regulatory Commission earlier this month. However the project still needs state approvals and is facing opposition from some Connecticut state officials and environmental groups.
That concern is being dismissed by TransCanada’s chief executive.
“The logic of opposition to this project is questionable. I don’t understand why people would oppose this,” Kvisle said. “They either have a unique agenda of not wanting anything built anywhere or they have not examined the supply-demand crisis that is heading towards New York City.”
(Reporting by Scott Haggett; editing by Rob Wilson)
© Reuters2008All rights reserved.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
