Sea Robin Pipeline reported being notified by Amerada Hess,operator of the Sea Robin Gas Processing Plant, that the plant hasresumed processing gas after a period of maintenance that began lastweek (see Daily GPI, July 12). Thepipeline resumed generating LTA (liquids transaction agreement)nominations Tuesday.
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Storage Bulls Find Tough Going In July
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.
Futures Drop 22.6 Cents on Bearish Storage Data
After being held to an extremely-tight, 6-cent trading range formuch of the trading session yesterday, natural gas futures cameunder a wave of selling pressure moments upon the release of freshstorage data and reacted by tumbling dramatically into the closingbell. Plumbing a new 5-week low at $3.91, the August contractfinished at $4.031, 22.6 cent lower for the day.
Transportation Notes
Problems with the Blanco Plant’s D1 turbine (see Daily GPI, June 8) were not as severe as anticipated,El Paso said, and thus it was being returned to service Friday alongwith the rest of the plant instead of remaining down through Sunday aspreviously estimated.
Southwest Gas Consolidation Options Stymied
After being an attractive takeover or merger target, the phonelines to Las Vegas-based Southwest Gas Corp. from prospectivesuitors are idle.
Southwest Gas Consolidation Options Stymied
After being an attractive takeover or merger target, the phonelines to Las Vegas-based Southwest Gas Corp. from prospectivesuitors are idle, several major lawsuits having been filed overlast year’s failed merger attempts-first with a desired partner andsecond with an unwanted partner.
‘Marginal’ RTO Plans Being Filed to Defer Competition
FERC Chairman James J. Hoecker indicated last week thattransmission-owning utilities are intentionally submitting sub-parcompliance filings in response to the Commission’s regionaltransmission organization (RTO) rule to delay the onslaught of fullcompetition in the bulk power market for as long as possible.
White House Turns Eye to Working Gas Group
After months of being bedeviled by high oil prices, the WhiteHouse has turned its attention to developing an interagency workinggroup to coordinate government’s efforts to help industry achieve a30 Tcf natural gas market by the 2010-2015 period.
Two Florida-Bound Pipes Get Nod from FERC
Florida just got two steps closer to being flooded by naturalgas via two proposed pipelines. The competing Gulfstream andBuccaneer pipeline projects, which would extend from Mobile, AL,across the Gulf of Mexico to the west coast of Florida and tomarkets across the Florida peninsula, are neck and neck in theirregulatory race after receiving preliminary approvals onnon-environmental grounds from the Federal Energy RegulatoryCommission (FERC) yesterday.
Transportation Notes
Public Service Co. of Colorado will limit production behindBaxter Point to 3 MMcf/d April 24-May 7. Affected producers arebeing notified.