Arriving

Tractebel LNG said Tuesday there may be enough gas demand in New England to support its new Neptune liquefied natural gas (LNG) project offshore Gloucester, MA, as well as Excelerate Energy LLC’s Northeast Gateway terminal, planned nearby, but it may be impractical to have two similar LNG projects located in the same general area.

More seasonable temperatures arriving in the Northeast and Midwest, along with what could be a tropical depression or storm due in the eastern Gulf Friday, provided all the ammunition that bulls needed to carry cash prices higher across the board Wednesday. Gains ranged from about a nickel to 20 cents and were distributed fairly evenly on a geographic basis.

With winter finally arriving after a string of eight weeks of warmer than normal weather, gas demand is on the rise but probably not enough to put a dent in the storage surplus compared to levels last year, according to experts. Withdrawals during this period last year were substantial and continue to be difficult to match.

The landscape of projects and programs to move Canadian gasarriving in Chicago on to the East changed again last week. KinderMorgan’s Natural Gas Pipeline Co. of America (NGPL) and TexasEastern Transmission (TETCO) are targeting the market with areciprocal capacity lease arrangement.

Enough cold weather was either arriving or developing Tuesday inthe northern and western regions of the U.S. to arrest, at leasttemporarily, the mild price slide that had begun the week. For achange there was remarkable cross-market consistency in thatvirtually all points traded flat to up or down a couple of cents.