The physical market answered Tuesday futures double-digit decline with an overall tumble on average of 9 cents Wednesday as the screen continued to drop and weather forecasts moderated. Northeast points were particularly hard hit as spot power prices plunged. At the close of futures trading July had shed 6.7 cents to $2.418 and August was down by 6.9 cents to $2.471. July crude oil suffered a $2.94 loss to $87.82/bbl.
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Kasich Tax Proposal Finds Support in Ohio Poll
New taxes on companies drilling for natural gas and oil in Ohio have the support of a majority of the state’s voters — especially if the resulting revenue would be spent to cut income taxes for residents — according to the results of a recent Quinnipiac University poll.
Vote Postponed as Shale Gas Debate Heats Up in New Brunswick
The debate in New Brunswick over shale gas development in the emerging Frederick Brook Shale continued to escalate Thursday, with politicians on opposing sides of the issue trading barbs and setting the stage for a showdown this week in the Legislative Assembly.
Williams Exec: Marcellus ‘Tough’ Place to Build Infrastructure
Marcellus Shale production is strong and activity is high, but because it’s a “tough environment to construct in,” Williams plans to reduce its capital spending in the play through the rest of this year, an executive said Tuesday.
Traders Unsure What to Make of 89 Bcf Storage Pull
Following the market’s recent tradition of following a large spike with a similar collapse a day or two later, January natural gas futures answered Wednesday’s 21.3-cent jump with a 17.1-cent drop Thursday to close at $4.435.
Alaska Senator Has AGIA Regrets, Pipeline Worries
With only one official North Slope gasline proposal to consider and many questions yet to be answered, at least one Alaska lawmaker is losing faith in the Alaska Gasline Inducement Act (AGIA) process, he told NGI last week.
Alaska Senator Worries AGIA Process Was A Mistake
With only one official North Slope gasline proposal to consider and many questions yet to be answered, at least one Alaska lawmaker is losing faith in the Alaska Gasline Inducement Act (AGIA) process.
Last Week’s Heat Limits Storage Injection to 42 Bcf; Futures Rally
The question of “How hot is it?” was answered on Thursday morning as the Energy Information Administration (EIA) reported that only 42 Bcf made it into underground storage for the week ended Aug. 3. The bullish number helped launch September natural gas futures more than 30 cents higher in morning trade. The contract ended up closing at $6.586, up 36.6 cents on the day.
Steel-Lined Storage Considered for Northeast
The Northeast’s hunger for gas storage could be answered by anew high-deliverability rock cavern technology being developed inSweden. A consortium of U.S. and European companies areparticipating in a project to develop lined rock cavern (LRC)technology. LRC performance is said to be similar to that of saltcavern storage, but it can be located in areas where salt is notgeologically present. The consortium is made up of New York StateElectric & Gas Corp. (NYSEG) and the European companies Gaz deFrance and Sydkraft of Sweden.
Steel-Lined Storage Considered for Northeast
The Northeast’s hunger for gas storage could be answered by anew high-deliverability cavern technology being developed inSweden. A consortium of U.S. and European companies areparticipating in a project to develop lined rock cavern (LRC)technology. LRC performance is said to be similar to that of saltcavern storage, but it can be located in areas where salt is notgeologically present. The consortium is made up of New York StateElectric & Gas Corp. (NYSEG) and the European companies Gaz deFrance and Sydkraft of Sweden.