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With natural gas futures bouncing around $6s and even threatening to break the psychological $7 mark, many market watchers are wondering why prices remain elevated despite comfortable storage levels and near record rig counts.

A fire broke out around 8 a.m. Wednesday at Spinnaker Exploration Co.’s High Island Block 47 “A” platform facility offshore during a routine maintenance operation. Damage was limited to an area immediately adjacent to and including the natural gas metering shack. Company personnel have re-boarded the facility to assess the extent of the damage and investigate the fire’s cause, the company said.

Friday’s nosedive in petroleum-based energy futures (along with a modest retreat in the natural gas contract) failed to exercise its usual belated “following the screen” appeal in Monday’s cash market. Instead, physical prices extended their weekend gains Monday, boosted by fresh incursions of winter weather in the northern market areas and in the late going by renewed surges in Nymex’s energy products.

With natural gas demand continuing to build around the world and a number of countries looking for the chance to supply it, the global liquefied natural gas (LNG) industry could emerge as the second global energy business, according to Michael Stoppard, Cambridge Energy Research Associates (CERA) director of Global LNG.

With natural gas demand continuing to build around the world and a number of countries looking for the chance to supply it, the global liquefied natural gas (LNG) industry could emerge as the second global energy business, according to Michael Stoppard, Cambridge Energy Research Associates (CERA) director of Global LNG.

In addition to moving around some of its executives and appointing a few new ones (see related brief), Richmond, VA-based Dominion also has separated two operating functions overseen by its Dominion Energy operating unit. Under the new organizational structure, the former Dominion Energy operating unit is divided into two separate business segments — Dominion Generation and Dominion Energy. Dominion Generation will manage the company’s portfolio of more than 24,000 MW of generation. Dominion Energy will manage the company’s electric transmission, marketing and natural gas pipeline and storage businesses. This change was effective Jan. 1. “We’re seeking to place our top talent and energy in positions where they can maximize their contribution to shareholder value. As a matter of ongoing policy, we also seek to streamline our organizational structure. The personnel and organizational changes announced today advance these goals,” CEO Thos. E. Capps said.

Rapid industrial and commercial gas demand growth around Saskatoon, SK, has prompted provincial gas utility TransGas to launch a $35 million natural gas storage project near the town of Asquith.

Rapid industrial and commercial gas demand growth around Saskatoon, SK, has prompted provincial gas utility TransGas to launch a $35 million natural gas storage project near the town of Asquith.

Transwestern reported experiencing an unspecified force majeure event around midday Wednesday at the Gallup (NM) Compressor Station. A unit is down and teams are evaluating the situation, the pipeline said. As a precautionary measure, Transwestern began allocating approximately 81,000 MMBtu/d of receipt volumes on the San Juan Lateral (cutting lateral capacity to 800,000 MMBtu/d) for Wednesday’s gas day and until further notice. See the bulletin board for a list of affected pointed.