Adding

Adding to the list of energy trading companies that have seen a sizeable jump in business since Enron Corp. filed for bankruptcy earlier this month, Sequent Energy Management, the wholesale marketing and supply arm of Atlanta-based AGL Resources Inc., said that its business volumes have risen nearly 300% since the energy giant filed under Chapter 11.

Adding insult to injury, Enron Corp.’s bankruptcy may complicate its anticipated sale of $800 million in assets that were already on the books because of due diligence issues, the company disclosed Monday. The asset sales, slated to be completed by the end of this month, include oil and natural gas fields in India, Brazilian gas utilities and its stake in a Puerto Rican power plant and liquefied natural gas terminal. Enron remains optimistic, however, that the sales will close, according to a spokesman.

Adding to losses suffered following the release of fresh storage data Wednesday, natural gas futures continued lower Thursday as traders managed to look past the Enron debacle to focus on the wealth of fundamental and technical factors — all of which point to lower prices. Following in the footsteps of the December contract, January shuffled lower in an organized manner Thursday to close with a 17.1-cent loss at $2.561.

Adding to pre-holiday losses notched last Wednesday, natural gas futures gapped lower at the open bell Monday as traders learned that the bearish combination of storage and weather is unchanged from last week. However, after plumbing a $2.61 low shortly after the open, the December contract shuffled higher yesterday to retake a portion of its earlier losses. The prompt month finished at $2.696 down 11.7 cents for the session, but up 8.6 cents from its low Monday.

Adding to gains achieved Monday, natural gas futures extended to new three-day highs yesterday, as traders grappled with the first onslaught of chilly weather across the Midwest and Northeast U.S. The buying pressure was evenly distributed through the trading session, leaving the November contract with a 11.8-cent gain to finish at $2.388. The entirety of the winter strip lagged the prompt month only slightly, advancing 9.2 cents to finish at $2.778.

Adding to losses that began in the Sunday evening/Monday morning Access trading session, natural gas futures accelerated lower Monday as traders continued to price in the impact of seemingly plentiful supply in a market that is lacking a strong demand component. At the closing bell, the prompt June contract was 25.1 cents lower at $4.239. The July contract followed suit, also tumbling 25.1 cents to close at $4.314.

Florida Gas Transmission announced that it placed its Phase IV expansion project into service, adding 134 miles of pipeline, 38,000 hp of compression and 200 MMcf/d of new firm transportation capacity to the system. Seven shippers signed 20-year agreements for the capacity.

Florida Gas Transmission announced that it placed its Phase IV expansion project into service, adding 134 miles of pipeline, 38,000 hp of compression and 200 MMcf/d of new firm transportation capacity to the system. Seven shippers signed 20-year agreements for the capacity.

After five years in the making, Alliance Pipeline officiallyopens for business today, adding 1.325 Bcf/d of new firmtransportation capacity from British Columbia and Alberta to theChicago gas market hub. The pipeline company held a grand openingceremony yesterday. “Our new, state-of-the-art pipeline systemprovides Western Canadian natural gas producers the opportunity toexpand their markets in both the Midwest United States and EasternCanada by offering them incremental transportation capacity througha real, competitive choice,” said CEO Norm Gish. “It will provideend-users in these market areas with a new supply conduit for thecleanest-burning hydrocarbon fuel. It will stimulate theexploration and producing sector in Western Canada resulting inenhanced business and employment opportunities in many communities.And, it will significantly contribute revenues to many governmentsdirectly in the form of taxes and indirectly in the form ofroyalties through increases in gas production.” COO Allan Edgeworthnoted that while the scale of the 2,300 mile system is significant,”it is only capable of transporting 10% of Alberta’s and BritishColumbia’s total gas production destined for export to eitherEastern Canada or the United States. The Alliance pipeline sponsorsinclude Coastal (14.4%), Enbridge (21.4%), Fort Chicago EnergyPartners LP (26.0%), Williams (14.6%) and Westcoast (23.6%).