Attempted

NorthernStar Natural Gas attempted last Friday to squash an allegation made earlier in August by U.S. Sen. Jeff Merkley (D-OR) and a local newspaper that the proponents of the Bradwood Landing liquefied natural gas (LNG) terminal along the Columbia River were secretly planning to export LNG from the facility.

FERC Chairman Jon Wellinghoff attempted to smooth the waters surrounding his recent prediction of an upgraded electric grid, bolstered by fully integrated renewables but with few, if any, new coal or nuclear generators, in Washington, DC, last week.

Following FERC queries as to the role in their organizations of two former traders who pleaded guilty in 2006 to attempted natural gas price manipulation while employed by other marketing companies, Vista Energy Trading LP (VET) has withdrawn its FERC application for market-based rate authority while Vista Energy Marketing LP (VEM) has structured its operations to conform to a consent order restricting the market activity of the traders (see Daily GPI, March 2).

Capping off a topsy-turvy holiday-shortened week of natural gas futures trading, the April contract attempted to work lower Thursday morning before being propped up by a fairly supportive 85 Bcf storage withdrawal report. The prompt-month contract put in a low of $8.700 before settling at the $9.065 high on the day, up 4.1 cents from Wednesday, but 81.3 cents lower than the previous week’s finish.

November futures rose Friday as prices continued to consolidate in a broad trading range and traders attempted to get an idea of what winter weather will bring. Traders also lightened up on short positions prior to the weekend and elected to not carry any extended positions when unanticipated weather events such as hurricanes may impact the market.

Commodity Futures Trading Commission (CFTC) charges of attempted gas market manipulation against two former CMS Field Services Inc. employees have been settled by consent orders issued in U.S. District Court in Tulsa.

Commodity Futures Trading Commission (CFTC) charges of attempted gas market manipulation against two former CMS Field Services Inc. employees have been settled by consent orders issued in U.S. District Court in Tulsa.

Firing off of Friday’s 22.9-cent jump, bulls attempted to capitalize on the momentum Monday by pushing June natural gas futures to a high of $7.930. The contract ended up backing off slightly to close at $7.863, up 3.2 cents from Friday’s close.

With his gubernatorial legacy somewhat on the line, Alaska’s lame duck Gov. Frank Murkowski attempted to reach out to his opponents on Wednesday in the hopes of securing a natural gas pipeline contract, warning that unless a special session is agreed upon by the Alaska legislature, plans to build the much ballyhooed gasline are in “significant peril.”