Leticia Gonzales

The power struggle between natural gas market bears and bulls continued Wednesday as futures prices soared as much as 17 cents overnight on a chillier long-range outlook only to plunge into the red as the latest data added a few days of milder temperatures. The Nymex January gas futures contract eventually recovered enough to settle 1.2 cents higher at $4.469 Wednesday, while February rose 2.5 cents to $4.33 and March gained a more substantial 6.9 cents to hit $4.006.

FERC last week gave the green light for more natural gas flows into Mexico authorizing the in-service of Texas Eastern Transmission’s (Tetco) South Texas Expansion Project (STEP), which transforms its existing Line 16 system to bidirectional service.

The electric grid operator of Texas is facing tighter reserve margins next summer as increasing oil and natural gas development in far West Texas, home of the prolific Permian Basin, continues to drive up electricity demand in the state.

Short-term cold was enough to swing the natural gas market higher Tuesday, boosting January prices more than a dime even as weather data changed very little day/day. The Nymex January futures contract settled at $4.457, up 11.8 cents. February rose 14.8 cents to $4.305, and March edged up 16.9 cents to $3.937.

Short-term cold was enough to swing the natural gas market higher Tuesday, boosting January prices more than a dime even as weather data changed very little day/day. The Nymex January futures contract settled at $4.457, up 11.8 cents. February rose 14.8 cents to $4.305, and March edged up 16.9 cents to $3.937.

Although last week offered glimpses of warmer temperatures forecast to arrive by the middle of December, recent volatility in weather models kept natural gas market bears treading lightly. That changed Monday when milder weather trends rolled into the medium range, sustained warmth to close out the month became a possibility and production data pointed to a new high.

Although last week offered glimpses of warmer temperatures forecast to arrive by the middle of December, recent volatility in weather models kept natural gas market bears treading lightly. That changed Monday when milder weather trends rolled into the medium range, sustained warmth to close out the month became a possibility and production data pointed to a new high.

Midstream operators are trying to capitalize on the rapidly growing interest in deepwater port crude oil export capabilities along the Gulf Coast with two separate pipeline projects that could be capable of transporting more than 1.5 million bbl combined.

Federal regulators have given the all clear to a subsidiary of Houston-based Kinder Morgan Inc. to start service on several facilities related to its Sabine Pass Expansion Project in Louisiana, one day after the midstream company asked for approval to put the remaining project facilities into service.