Attempts

Scana Energy Marketing, a subsidiary of Scana Corp., has filed alawsuit in Cobb County Superior Court in Georgia in an attempt tohave the marketing alliance contract, which it signed in 1998 withsix co-ops, nullified.

Scana Energy Marketing, a subsidiary of Scana Corp., has filed alawsuit in Cobb County Superior Court in Georgia in an attempt tohave the marketing alliance contract which it signed in 1998 withsix co-ops nullified.

Many traders likely hauled out dictionaries Monday in attemptsto find the right adjectives to describe the awesomeness of themarket they were experiencing. In a tremendous push inspired byrevised forecasts calling for a severe winter cold snap next week,most points measured gains in the range of 70-95 cents, anddollar-plus advances were not uncommon. Some quotes topped $20 atall three California points.

Florida Power & Light is having to do a delicate balancingact to minimize the impact of high gas and oil prices onresidential customers.

The natural gas industry should be prepared to face customer uproar and attempts to impose price caps, similar to those seen this summer in San Diego, if the upcoming winter is cold enough and prices continue to hit new highs. That was the warning sounded by government and industry representatives at the crisis “summit” sponsored by the Interstate Oil and Gas Compact Commission (IOGCC) last week in Columbus, OH.

The natural gas industry should be prepared to face customerrevolts and attempts at price caps, similar to those witnessed thissummer in San Diego if it’s a cold winter and prices continue tohit new highs. That was the warning from government and industryrepresentatives at the crisis conference held by the Interstate Oil& Gas Compact Commission (IOGCC) yesterday.

After being thwarted in repeated attempts to punch through the$4.23 level during the first hour of trading, natural gas bullsturned in their horns Friday, giving way to light sellingthroughout the rest of the session. Limited to an extremely tight,7-cent range for the day, the August contract slipped 1.6 cents tofinish the week at $4.15.

The assets serve all major metropolitan areas, the largest industrialload centers, and numerous natural gas trading hubs, El Paso said. Theyare also well positioned to serve many of the state’s existing and plannedgas-fired electric generation facilities. Included in the transaction are8,500 miles of natural gas transmission pipelines that transport approximately2.8 Bcf/d, nine processing plants that currently process 1.5 Bcf/d, anda 7.2 Bcf natural gas storage field. The transaction also includes significantnatural gas liquids pipelines and fractionation facilities.

After three years of attempts to generate profitability from itsTexas gathering and liquids businesses, PG&E National EnergyGroup finally threw in the towel yesterday and announced the saleof these assets to El Paso Energy Field Services for $840 millionin stock and debt.