Like the “Row, row, row your boat” verse that repeats over andover, cash prices repeated their flat trading pattern Tuesday forthe umpteenth time in 1999. Several points made small gains of 1-3cents, likely deriving their modest firmness from a similar rise onthe futures screen.

The market continues to be dull for now, a Houston source said,but some livelier action could be on the way in the next couple ofdays. A fairly significant snowstorm was entering the RockiesTuesday and is expected to proceed eastward into more populousmarket areas. But for now, much of the East is basking underspringlike weather.

About 500 MMcf/d of supplies remained curtailed by Sundayevening’s explosion on NOVA (see Transportation Notes), but thepipeline is removing all delivery restrictions this morning. Itexpects to complete repairs on the damaged section of pipe,including a needed valve replacement, by Saturday. However, thecurtailed gas likely will not start flowing again until Sundaybecause it will take at least a day or so to repressure the line, aCalgary source said.

One source who traded Sumas in the low $1.60s found it difficultto believe other people were still willing to pay as much as $1.70there Tuesday. While cutting intra-Alberta supplies, the NOVAoutage was causing gas to back up at Westcoast Station 2 becausethe Westcoast line into Alberta is upstream of the rupture site,she said. In turn, the Station 2 backup meant more gas being madeavailable at Sumas. Despite Sumas prices rising slightly, Station 2quotes fell into the C$2.10s Tuesday.

Considering that last week’s demand fundamentals were almost arepeat of those in the last week of January, a marketer isexpecting this afternoon’s AGA storage report to be similar to therather anemic figure of 78 Bcf in withdrawals contained in theprevious one.

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