Gordon Shearer, a veteran LNG proponent, has waited a long timefor his ship to come in – literally. Shearer, president of CabotLNG Corp., already has brought his share of the liquefied productinto Cabot’s Massachusetts terminal over the years, but in volumesthat barely rate mentioning in the overall supply picture. That’sabout to change, at least in New England, where Cabot finds itselfpositioned to meet growing market demand with LNG imported fromthousands of miles away.
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NGI The Weekly Gas Market Report
Large Storage Operator Exits AGA Survey
The departure of one large gas storage company, Bismark,ND-based Williston Basin, from the American Gas Association’sstorage survey last week, both shocked and puzzled industryobservers. Williston, one of the largest gas storage operators inthe western region, if not the largest, with 193 Bcf of working gascapacity, wouldn’t say why it was exiting the survey. AGA said itwas told the company was cutting costs by reducing time spentreporting storage information to numerous surveyors, not just AGA.
NGI The Weekly Gas Market Report
Analysts See February Finishing at or Below $2
Spot wellhead prices are expected to lose some of the strengthexhibited earlier this month and average at or below $2/MMBtu forFebruary, according to industry analysts at PaineWebber, andWashington DC-based Energy Security Analysis Inc. (ESAI).
NGI The Weekly Gas Market Report
GRI, Colorado Researchers Aim Death Star at Gas Resources
If you thought the StarWars missile defense system had nothing to do with natural gas, think again. The Gas Research Institute, the U.S. Air Force, the U.S. Army and the Colorado School of Mines are teaming up to determine if StarWars laser technology could “revolutionize” how natural gas wells are drilled.
NGI The Weekly Gas Market Report
Tennessee Beefing up Offshore Louisiana Lines
Tennessee Gas Pipeline has filed plans to increase capacity onsix separate lines in the Gulf of Mexico that together, wouldrepresent an increase of over 720 MMcf/d in offshore line capacityowned by Tennessee and other parties.
NGI The Weekly Gas Market Report
Class Action Says OEDC Defrauded Investors
Offshore Energy Development Corp. (OEDC) faces a class action onbehalf of shareholders alleging the company misrepresented itsperformance to investors and certain officials participated ininsider trading.
NGI The Weekly Gas Market Report
Tennessee Holding Dual Eastern Express Open Seasons
El Paso Energy’s Tennessee Gas Pipeline Company is holdingparallel binding open seasons running through late March for theEastern Express Project 2000. The two separate open seasons willcover emerging power generation and other growth markets in NewEngland, the New York City area, and the Ellisburg/Leidy storagearea. Shippers will be asked to submit bids and execute bindingprecedent agreements for receipts in New England, which closesMarch 24, and for receipts in the Gulf Coast, Chicago, NiagaraFalls, and Ellisburg/Leidy storage areas, which closes March 31.
NGI The Weekly Gas Market Report
CMS Marketing Arm Acquires Canada’s Premstar
CMS Marketing, Services and Trading, a unit of CMS Energy, madeits first foray into Canada by acquiring 50% ownership of Canadiangas marketer PremStar Energy Canada Ltd., which will provide energyprocurement and management services throughout Canada. “PremStarfirmly establishes CMS Marketing, Services and Trading in the toptier of Canada’s energy service providers,” said William W.Schivley, CMS-MST chief operating officer. “This joint venturecombines the financial strength and U.S. energy operations of CMSwith PremStar’s strong Canadian presence to grow our customer basein North America. This is especially strategic as we move toward anopen, restructured North American energy market of the future.”
NGI The Weekly Gas Market Report
ANR Rate Settlement Approved, Without Short-Term Firm Tariff
ANR Pipeline Company’s long-standing rate settlement won approval from the Federal Energy Regulatory Commission last week, but without FTS-3 short-term service rates, and without the Commission agreeing to lift the “at-risk” condition on several projects, as the pipeline had hoped it would.
NGI The Weekly Gas Market Report
Hall Sees PUHCA Repeal Moving Forward
Rep. Ralph Hall, D-TX, said he believes this Congress will votestand-alone legislation to repeal the Public Utility HoldingCompany Act (PUHCA) as hopes for a comprehensive electricrestructuring bill fade. Talking to reporters after addressing theNatural Gas Roundtable in Washington Tuesday, Hall said the longerCongress puts off comprehensive legislation, the better theprospects get for piecemeal measures.