Arrive

Last December U.S. gas markets were throwing a party, but the international guests failed to arrive. The January Nymex natural gas futures contract set an all-time record for a prompt-month settle at $15.378, but still it wasn’t enough to entice liquefied natural gas (LNG) cargoes to the Gulf of Mexico.

Gas from the far North cannot arrive too soon in southern markets, according to testimony offered in a rate case before the National Energy Board by TransCanada PipeLines Ltd., which said it faces increasing “supply risk.”

Gas from the far North cannot arrive too soon in southern markets, according to testimony offered in a rate case before the National Energy Board by TransCanada PipeLines Ltd., which said it faces increasing “supply risk.”

As a result of “much colder than normal temperatures forecasted for this time of the heating season” due to arrive early Sunday in its market area, NGPL issued an OFO that limited hourly takes and daily balancing at delivery points in the Market Delivery Zone effective at 6 a.m. CST Sunday until further notice. Another factor in the OFO’s implementation is “the high average hourly peak loads observed during similar weather conditions this year in January and February,” NGPL said.

The Canadian government has set up the starting gate for the Mackenzie Valley natural gas pipeline race by activating a northern regulatory agency and opening a door to providing indirect financial assistance for the project.

The Canadian government has set up the starting gate for the Mackenzie Valley natural gas pipeline race by activating a northern regulatory agency and opening a door to providing indirect financial assistance for the project.

In reaction to the arrival of the much-anticipated blast of cold air in the eastern half of the country, natural gas futures rocketed higher Wednesday as early short-covering by funds and commercials triggered waves of buy-stop-loss orders. By virtue of its $5.50 high trade, February notched a new all-time contract top and traded within 3 cents of the 21-month prompt-month high made by the January contract on Dec. 13. It closed at $5.43, up 32.3 cents for the session.

Disregarding debate over whether the new millennium has alreadybegun or won’t arrive until nearly a year from now, gas tradersgreeted the year 2000 by sending spot prices moderately lower. Itwas hardly surprising that the January aftermarket would open on adownward trend, a Texas marketer said. “We’ve been wondering whythis market has remained up as much it did. Everything seemsbearish.”

Only five of a possible 19 marketers are making deliveries toabout 16,000 out of 1.4 million customers of Atlanta Gas Light thismonth, but it’s a start in the LDC’s state-approved plan to workits way out of the regulated merchant business.