Algonquin

Repsol Energy North America Corp., the largest shipper on Maritimes & Northeast Pipeline LLP (M&NE), has told FERC that M&NE and affiliate Algonquin Gas Transmission LLC have failed to answer questions about how their Atlantic Bridge Project could affect existing M&NE shippers.

Regulators in Massachusetts have asked FERC to conduct an environmental review of Spectra Energy Corp.’s Atlantic Bridge Project, arguing that the cumulative impacts of the project — especially from a new compressor station to be built in Weymouth, MA — warrant such a review.

Physical natural gas for Thursday delivery shed a couple of cents across the country with the exception of the Rockies and in California, where most points managed to stay in the black. TheNGI National Spot Gas Average declined a penny to $1.99.

Momentum is building for a natural gas pipeline solution to New England’s electric reliability and price spike woes, and Spectra Energy Corp. CEO Greg Ebel thinks his company’s Access Northeast project will be the one.

Call it an example of Goliath giving David a helping hand.

With the exception of a few constrained northeast points bidweek quotes had the trajectory of a safe falling from a ten story building. Declines were broad and pervasive across nearly every market point, and the NGI National Bidweek Average fell a stout 29 cents to $2.07.

Until Friday, spot gas traded for next-day delivery at most points did not have to suffer the indignity of trading below $2, as November futures did prior to expiration on Tuesday. That all changed with natural gas traded for the weekend and Monday.

It was all trick for natural gas sellers and treat for gas buyers for the week ending Oct. 30. Trading was downright spooky with only a handful of market points posting gains and double digit losses being the norm.

Algonquin Gas Transmission LLC and Maritimes & Northeast Pipeline LLC on Thursday filed at FERC for their Atlantic Bridge Project, which would “provide much needed supply diversity and reliability in the Northeast markets,” they said.