Adding to losses that began Tuesday, the natural gas futures market accelerated lower Wednesday as weak longs lightened their load ahead of fresh gas storage inventory data that is scheduled to be released Thursday morning. A fading tropical storm threat also impacted November futures, which finished the session down 15.3 cents at $4.677.
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State of California Calls for More Gas Storage, LNG
California’s new statewide energy action plan calls for an accelerated effort to increase gas storage capacity, gas conservation and demand-side management as well as developing two Pacific Coast liquefied natural gas (LNG) receiving terminals, the state’s three major energy agencies announced in a press conference last week. “California is in the market for LNG, and that is what people need to hear,” said one of the state energy commissioners.
State of California Calls for More Gas Storage, LNG
California’s new statewide energy action plan calls for an accelerated effort to increase gas storage capacity, gas conservation and demand-side management as well as developing two Pacific Coast liquefied natural gas (LNG) receiving terminals, the state’s three major energy agencies announced in a press conference this week. “California is in the market for LNG, and that is what people need to hear,” said one of the state energy commissioners.
Public Interest Groups Tout Efficiency, Renewables, Blast Lifting Drilling Moratoria
Increasing natural gas prices should not scare Congress into allowing greedy gas producers to drill willy-nilly across environmentally sensitive areas or areas currently blocked by drilling moratoria, environmentalists, ranchers, public interest groups and scientists said on Wednesday during a teleconference on the “real story behind the natural gas crisis.” The conference was organized by the Community Office for Resource Efficiency (CORE), the Northern Plains Resource Council and The Wilderness Society.
EOG’s Papa Sees Production Decline Continuing through 2003
EOG Resources CEO Mark Papa said Monday he expects total North American gas production to continue falling through next year because of the decline in drilling and the continuing intrinsic decline rate of existing gas wells.
FERC Fast-Tracks Transmission Interconnection Policy
The Federal Energy Regulatory Commission has announced an accelerated process to develop a standard interconnection agreement to be used by all utilities and regional transmission organizations (RTO) in hooking up generators in the development of an efficient, open access transmission service.
CA Governor Signs Two Electricity Bills
Separate but closely linked California legislative proposals toprovide consumer electricity rate relief and accelerated powerplant siting/energy efficiency programs were signed into lawWednesday by Gov. Gray Davis, who used the occasion to list 11separate previous electricity-related actions he or hisadministration have taken since June 14 immediately following thefirst controlled rolling brownouts in the San Francisco Bay Areasince World War II.
Transportation Notes
The maintenance outage of Unit #7 at Princess B CompressorStation, originally scheduled for completion April 30, is nowexpected to end April 23 due to accelerated material delivery datesand additional crews on-site when possible, NOVA reported.