Apparently

“El Nino” apparently isn’t Spanish for “low natural gas prices.” Glance at last week’s record and near-record Gulf Coast and Northeast spot gas prices, a rare operational flow order on Transcontinental Gas Pipe Line and another in a string of cold fronts walloping the Northeast and it’s clear weather forecasters got it wrong this winter in a big way.

“El Nino” apparently isn’t Spanish for “low natural gas prices.” Glance at Tuesday’s record and near-record Gulf Coast and Northeast gas prices, a potential rare operational flow order on Transcontinental Gas Pipe Line and another in a string of cold fronts walloping the Northeast and it’s clear weather forecasters got it wrong this winter in a big way.

The panache of a “AA+” rating of the corporate parent by Standard & Poor’s Ratings Service apparently has failed to win over doubters, after UBS Warburg Energy switched off its online energy trading system (formerly EnronOnline) and announced it will terminate nearly all of its 380 Houston-based employees. Those not fired will be offered jobs in a UBS office in Stamford, CT, the company said Wednesday.

The panache of a “AA+” rating of the corporate parent by Standard & Poor’s Ratings Service apparently has failed to win over doubters, after UBS Warburg Energy switched off its online energy trading system (formerly EnronOnline) and announced it will terminate nearly all of its 380 Houston-based employees. Those not fired will be offered jobs in a UBS office in Stamford, CT, the company said Wednesday.

A superior credit rating and financial acumen apparently have done little to help revive Enron Corp.’s collapsed energy trading operations. UBS Warburg Energy debuted early this year after taking over the trading business. However, the Houston-based unit has failed to produce, and 10 months later, the corporation’s president admits the “business outlook is very challenging.”

A vast majority of the cash market apparently decided to take it easy Wednesday and await further developments. Mild softness at a few Northeast points and losses between a nickel and 15 cents in San Juan Basin and the Rockies were the only aberrations in an otherwise basically flat price landscape.

A superior credit rating and financial acumen apparently have done little to help revive Enron Corp.’s collapsed energy trading operations. UBS Warburg Energy debuted early this year after taking over the trading business. However, the Houston-based unit has failed to produce, and 10 months later, the corporation’s president admits the “business outlook is very challenging.”

Potential storage customers apparently are scrambling for capacity in NUI Corp.’s proposed 7.6 Bcf Richton salt cavern, which the company plans to develop in Perry County, MS. NUI said it received expressions of interest for 18 Bcf of storage space in the facility in a non-binding open season it held between May 29 and July 3.

Potential storage customers apparently are scrambling for capacity in NUI Corp.’s proposed 7.6 Bcf Richton salt cavern, which the company plans to develop in Perry County, MS. NUI said it received expressions of interest for 18 Bcf of storage space in the facility in a non-binding open season it held between May 29 and July 3.