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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added 40 cents to $67.58 on the New York Merc, while Brent for May added 49 cents to $71.07 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.00 to WTI, unchanged. Natural gas for April lost nine cents to $4.01. The TSX energy index added 3.91 points to close at 263.18.

Gas producers had some luck on St. Patrick's Day, as the NYSE-listed Cheniere Energy Inc. (U.LNG: $222.73) -- the largest LNG (liquefied natural gas) producer and exporter in the United States -- announced "substantial completion" of the first of seven planned trains of its Corpus Christi stage 3 LNG project in Texas. Completion of this train (the industry term for a liquefaction plant) occurred on budget and about six months ahead of schedule. Cheniere cheered "another important milestone ... providing much-needed new LNG supply to the global market."

President and chief executive officer Jack Fusco added that Cheniere will set its sights on "safely and efficiently bringing the remaining [Corpus Christi stage 3] trains on-line ahead of schedule." This will be of interest to one particular Canadian gas producer, namely ARC Resources Ltd. (ARX), up 50 cents to $26.88 on 2.96 million shares. In 2022, ARC signed a 15-year gas supply agreement to send Corpus Christi stage 3 the equivalent of 25,000 barrels a day, but the staggered timelines of train completions meant -- at the time -- that ARC's gas would not be necessary until 2027. Perhaps ARC will not face as long a wait after all.

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