1997

Weak national demand led all but a handful of companies to see natural gas marketing declines during the second quarter as the total volume sold in North America fell 9% — almost 11 Bcf/d — according to NGI’s 2Q2009 Top North American Gas Marketers Ranking. read more

Despite a decline in the survey’s top spot, overall natural gas marketing was up 6.2% year over year. read more

Marketers reported an overall 4Q2009 decrease of less than 1% from the previous year’s period, but a flood of of production from shale plays could influence the market’s next move. read more

Enron Corp. slipped deeper into the history books last Wednesday after the remaining defendants, including former CEO Jeffrey Skilling, were dismissed in an eight-year-old lawsuit filed by shareholders and investors against the bankrupt trader’s financial institutions.

Source: Quarterly financial reports with the Securities and Exchange Commission, or if necessary, statements signed by company officials and provided to NGI.

Oklahoma Corporation Commissioner Denise Bode is resigning her post effective May 31 to lead a new natural gas foundation in Washington, DC. Bode, who was appointed to the commission in 1997 by former Gov. Frank Keating, said she is in the process of forming the American Clean Skies Foundation. “Today, there is a national debate on climate change and energy,” she said. “We see policymakers promoting alternative fuels such as wind, solar, biofuels and nuclear. These are all legitimate alternatives — although some much less than others — yet none can offer energy in great abundance at a reasonable price any time soon. On the other hand, burning natural gas instead of the principal alternatives reduces greenhouse gas emissions by approximately 50%. We intend to make natural gas not only part of the debate, but the solution.” Bode said she has talked with gas industry officials about the foundation, including Oklahoma City-based Chesapeake Energy Corp. However, she said the foundation “is not going to be a Chesapeake entity.” Chesapeake has admitted funding an anti-coal campaign in Texas (see Power Market Today, Feb. 20) Gov. Brad Henry, a Democrat, will name Bode’s replacement. Bode’s current term was to expire in 2010. Early in her career Bode worked as a staffer on Capitol Hill and later headed up the Independent Petroleum Association of America lobbying group in Washington.

Gas storage withdrawals during the week that ended Feb. 9 totaled a massive 259 Bcf, merely 1 Bcf shy of the all-time record set during the week of Jan. 17, 1997, the Energy Information (EIA) reported last week. Furthermore, the cold last week is expected to lead to yet another 200-plus Bcf withdrawal, further diminishing the surplus compared to the five-year average and putting storage levels much closer to what would be considered normal for this time of year.

Gas storage withdrawals last week may have broken the weekly record set Jan. 17, 1997 at more than 260 Bcf, according to a number of forecasters. Not only did the severe cold early in the week send gas demand to peak levels on some northeastern local distribution systems, but the extended cold also sustained high withdrawals for multiple days.

FERC on Friday issued an order amending Total Peaking Services LLC’s 1997 certificate to increase the sendout capacity of the company’s liquefied natural gas (LNG) peak-shaving facility in Connecticut to 90 MMcf/d from 72 MMcf/d.