After January natural gas futures traded in a 23.5-cent range from $7.330 to $7.565 on Tuesday, the lack of market direction became even more evident as the contract closed out the day at $7.430, a mere three-tenths of a penny higher than Monday’s $7.427 settle.
Became
Articles from Became
Opponents Go to Court Again to Stop Weaver’s Cove LNG
The embattled Weaver’s Cove liquefied natural gas (LNG) import terminal project became the target Friday of another legal maneuver to block the construction of the proposed facility in Fall River, MA.
El Paso to Track, Report GHG Emissions
El Paso Corp. on Wednesday became the first natural gas company to announce it has joined the California Climate Action Registry, a group of organizations that publicly track and report their greenhouse gas (GHG) emissions.
NGI The Weekly Gas Market Report
Fortis Becomes Big Player in North American Energy Markets
European financial heavyweight Fortis became the latest banker to muscle into North America’s energy marketing business last week with the estimated $415 million purchase of Duke Energy’s commercial marketing and trading business. Fortis, which ranks among the 20 largest financial institutions in Europe, will pay Duke $210 million for the business and will pay an amount equal to the value of Duke’s portfolio of contracts and net working capital associated with the business when the transaction closes.
Scarlett to Head Up Interior Until Norton Successor Confirmed
Interior Deputy Secretary Lynn Scarlett became acting secretary of the department when Gale Norton, the first woman to head Interior, departed Friday following five years with the Bush administration.
Market Needs More Basis Risk Management, LDC Hedging, Says Marketing Veteran
Higher and more volatile natural gas prices have created opportunities for some and challenges for others. Hedging became more popular with producers last year as they attempted to lock in higher prices. Meanwhile, gas buyers tangled with a difficult market while wondering what is to come.
Utah, Wyoming Ok MidAmerican Buying PacifiCorp
With momentum building in all six western states where the utility operates, Utah and Wyoming became the first two states to approve the proposed $9.4 billion purchase of PacifiCorp from ScottishPower by Iowa-based utility holding company MidAmerican Energy Holdings Co., part of billionaire Warren Buffett’s Berkshire Hathaway conglomerate. Utah regulators approved the deal last Friday, and Wyoming’s regulators earlier gave a verbal okay with a final written order to be issued next week, effective Feb. 10.
Calpine Oil/Gas Spin-Off Prepares for 50 Million-Share IPO
The former Sheridan Energy that became a major part of Calpine Natural Gas, now spun off earlier in the year and re-created as Houston-based Rosetta Resources last Friday filed an S-1 application with the Securities and Exchange Commission in preparation of an initial public offering (IPO) of 50 million shares priced at $16/share, according to a Rosetta senior executive. Th
NGI The Weekly Gas Market Report
FERC Serves as Forum for Clash Over LICAP Cost Estimates
Estimates for the ultimate price tag of an ISO New England (ISO-NE) locational installed capacity (LICAP) proposal — which some have put in the neighborhood of $13 billion to $15 billion — became a central bone of contention between representatives from the New England grid operator and certain parties opposed to the LICAP plan at FERC-sponsored oral arguments last Tuesday.
NGI The Weekly Gas Market Report
Slow Restoration Continues; Analysts Say Shortage Warnings Premature
The extent of the damage from Katrina became a little clearer last week, but predictions on how long the repair process will take and when full production will be restored varied widely. Secretary of Energy Samuel Bodman and Interior Secretary Gail Norton, who toured the damaged area in the Gulf Coast region on Tuesday, warned that natural gas shortages are possible this winter, but analysts interviewed by NGI predicted high prices likely would balance supply and demand.