Awaited

In a long-awaited rehearing order on its negotiated-rate policy, FERC last Thursday signaled its willingness to allow interstate natural gas pipelines to enter into negotiated-rate transactions with shippers that reference “basis,” or the difference between natural gas price indexes at two market locations.

In a long-awaited rehearing order on its negotiated-rate policy, FERC on Thursday signaled its willingness to allow interstate natural gas pipelines to enter into negotiated-rate transactions with shippers that reference “basis,” or the difference between natural gas price indexes at two market locations.

The Federal Energy Regulatory Commission (FERC) Thursday introduced its long-awaited initiative reforming the agency’s pricing policies to promote the construction of more natural gas storage sites in the United States — an action that Chairman Joseph Kelliher said would help improve the operation of the gas markets and reduce price volatility.

Supporters of the long awaited C$7 billion Mackenzie Delta natural gas pipeline may be close to cementing agreements with the Canadian government and aboriginal communities, which would lead to key public hearings in 2006.

Long-awaited omnibus energy legislation is headed to the White House after it cleared the Senate by a nearly three-to-one margin Friday and was voted out by the House a day earlier, crossing the finishing line ahead of the Aug. 1 deadline set by President Bush.

With a little encouragement from the petroleum complex’s sizeable losses on the day, January natural gas futures found their way below the $7.40 level briefly before settling at $7.413, down 20.7 cents on the day. Attention now turns to the Energy Information Administration’s (EIA) natural gas storage report release Thursday morning, where there are still more questions than answers.

With a little encouragement from the petroleum complex’s sizeable losses on the day, January natural gas futures found their way below the $7.40 level briefly before settling at $7.413, down 20.7 cents on the day. Attention now turns to the Energy Information Administration’s (EIA) natural gas storage report release Thursday morning, where there are still more questions than answers.

An imminent outbreak of development drilling, triggered by long-awaited technical and exploration successes, is prompting even the most cautious forecasters into raising expectations for coalbed methane in Canada.

In a long awaited restatement of first quarter income, El Paso Corp. reported a loss of $206 million (32 cents/share), compared with a restated loss of $431 million (72 cents) in 1Q2003. The company is revising its earnings numbers through 2001, and it expects to file the second quarter restatement by the end of November.