2002

Continuing in its effort to find a way to develop stranded natural gas economically, Conoco has taken a major step toward commercializing its proprietary technology for converting natural gas to liquids with the delivery and installation of the first production modules at the company’s gas-to-liquids (GTL) demonstration plant under construction in Ponca City, OK.

With the exception of cities in the Pacific Coast states, most of the United States will see warmer-than-normal temperatures this spring, according to WSI Corp., which issued its end-of-February update last week. The warmest temperatures, relative to normal, are expected in the southern Plains and parts of the Southeast, including Dallas, Houston, New Orleans, Little Rock and Birmingham, AL. Meanwhile, the Northeast, including Boston, New York, Philadelphia and Washington, DC, can expect slightly warmer-than-normal temperatures.

The gas futures market had one of its more amazing weeks with an enormous upswing that shot April futures from a low of $2.290 the week prior, all the way up to last week’s high on Thursday of $2.820. On Friday, April prices inched up 4 cents to close out the week at an even $2.800/MMBtu. Despite the strong rally, however, some observers see overbought conditions leading to a pullback; it’s just a question of how much and for how long.

The first full week of debate on the Senate omnibus energy bill wasn’t particularly favorable for the natural gas industry, as lawmakers adopted amendments that mandated the Alaska Highway as the route for a proposed North Slope gas pipeline, folded a controversial pipeline-safety measure into the energy bill that mandates pipeline inspections every five years, and ordered a study of whether the federal government should expand controls on hydraulic fracturing as a means to produce gas.

With the exception of cities in the Pacific Coast states, most of the United States will see warmer-than-normal temperatures this spring, according to WSI Corp., which issued its end-of-February update on Monday. The warmest temperatures, relative to normal, are expected in the southern Plains and parts of the Southeast, including Dallas, Houston, New Orleans, Little Rock and Birmingham, AL. Meanwhile, the Northeast, including Boston, New York, Philadelphia and Washington, DC, can expect slightly warmer-than-normal temperatures.

A study commissioned by Duke Energy in support of subsidiary East Tennessee Natural Gas’ Patriot pipeline extension forecasts that natural gas demand in Virginia and North Carolina will grow by 410 Bcf over a 10-year period from 2000 to 2010 and that peak-day demand will increase by 1.5 Bcf/d, exceeding the new supply to be delivered by Patriot.

A study commissioned by Duke Energy in support of subsidiary East Tennessee Natural Gas’ Patriot pipeline extension forecasts that natural gas demand in Virginia and North Carolina will grow by 410 Bcf over a 10-year period from 2000 to 2010 and that peak-day demand will increase by 1.5 Bcf/d, exceeding the new supply to be delivered by Patriot.

Marking its first petition for a rate increase in seven years, Progress Energy subsidiary, NCNG, said Monday that it has filed with the North Carolina Utilities Commission (NCUC), seeking an increase in natural gas service rates for its customers. The company said it is seeking to recover the cost of serving its 176,000 residential, commercial, industrial and municipal customers.

While former Enron employees who have been laid off filed with the bankruptcy court for severance pay, two more Enron executives joined the ranks of the unemployed Thursday.