Natural gas futures climbed in New York for the first time in five days on speculation that government data will show a bigger-than-normal decline in stockpiles of the heating fuel as cold weather stoked demand.
Spectra Energy Corp. detected a “small” leak in an offshore 20-inch natural-gas pipeline, Wendy Olson , a company spokeswoman. The line is 80 miles (130 kilometers) from Cameron Parish, Louisiana, she said.
The Energy Department approved Lake Charles Exports LLC to ship natural gas from its terminal in Louisiana, the third facility the Obama administration has backed to sell to nations that lack free-trade agreements with the U.S.
Cheniere Energy Inc.’s cost to build a Louisiana gas export terminal won’t be affected by a U.S. regulator’s failure to approve the project today, the company’s chairman said after earlier warning of “significant price increases.”
Cheniere Energy Inc. won federal approval to build the largest U.S. natural-gas export terminal as drillers who extract the fuel from shale formations struggle to find domestic buyers to absorb a glut.