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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

LCG, October 10, 2023 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2024, based on the most likely weather, market, transmission, and generator conditions.

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LCG Publishes 2024 Annual Outlook for Texas Electricity Market (ERCOT)

LCG, October 10, 2023 – LCG Consulting (LCG) has released its annual outlook of the ERCOT wholesale electricity market for 2024, based on the most likely weather, market, transmission, and generator conditions.

Read more

Industry News

Phillips, El Paso Plan LNG Deliveries to West Coast

LCG, March 8, 2001--Phillips Petroleum Co. said this morning it has signed a letter of intent with El Paso Corp. which contemplates development of a major liquefied natural gas project that would deliver approximately 4.8 million tons per year of LNG to growing gas markets in Southern California and Mexico's Baja California peninsula.

The agreement will accelerate Phillips' efforts to bring Timor Sea gas to market ahead of schedule, the company said.

Subsidiaries of the two companies have signed a letter of intent for the long-term purchase by El Paso of LNG from a plant to be built by Phillips near Darwin, Australia. A definitive agreement, expected to be signed by summer, provides for LNG sales to El Paso beginning in 2005.

The LNG would be shipped to North America, where it would be re-gasified and sold as about 680 million cubic feet per day of natural gas. Phillips said the plan will foster electric power, commercial and industrial development in Mexico's Baja California peninsula and provide a new source of natural gas supplies in growing Southern California markets. El Paso would be responsible for marketing the natural gas.

The two companies are also in the early stages of deciding where to put a new LNG receiving terminal on the California or Mexico coasts. They said they are working with the governments of both to explore permitting for such a facility.

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