Believe

FERC has issued a favorable environmental review of Egan Hub Storage LLC’s proposal to add 10.5 Bcf of total storage capacity (8 Bcf working gas) at its facility in Acadia and Evangeline Parishes, LA.

October gas futures gapped 10 cents to the upside at the opening bell Tuesday, leading some to believe a solid bounce would continue higher off Monday’s significant $5.440 low, the lowest a front month has traded in nearly two years. However, the front-month contract reversed course in morning trading and ended Tuesday down 9.6 cents at $5.574, just above a daily low of $5.560.

FERC on Wednesday approved Downeast LNG Inc.’s request to begin the pre-filing process on its proposed $400 million liquefied natural gas (LNG) import terminal in Robbinston, ME.

Gas utilities and municipal gas companies believe the Energy Information Administration’s (EIA) proposed monthly and annual liquefied natural gas (LNG) storage survey would lead to market confusion rather than provide important additional information about gas supply. The associations gave EIA’s planned Form 913 poor reviews and KeySpan also came out against the proposal.

Gas utilities and municipal gas companies believe the Energy Information Administration’s (EIA) proposed monthly and annual liquefied natural gas (LNG) storage survey would lead to market confusion rather than provide important additional information about gas supply. The associations gave EIA’s planned Form 913 “thumbs down.” KeySpan also came out against the proposal.

Independent oil and natural gas producers on Thursday championed the Agriculture Department’s adoption of a final rule that they believe would open up 58.5 million acres of remote national forest lands to road building, energy exploration and production and other development.

While a number of market participants believe that noncommercial traders are responsible for natural gas futures price spikes and the high level of volatility swirling throughout the market, Tom Saal, a broker with Commercial Brokerage Corp. in Miami, believes the allegations are false.

While a number of market participants believe that noncommercial traders are responsible for natural gas futures price spikes and the high level of volatility swirling throughout the market, Tom Saal, a broker with Commercial Brokerage Corp. in Miami, believes the allegations are false.

Investors still don’t believe that higher oil and natural gas prices are sustainable, and they have yet to appreciate the enormous shift in wealth currently flowing in the energy sector, according to Raymond James’ Stat of the Week. However, over the next decade, analysts are forecasting a long-term sector rotation into energy stocks, because the fundamentals are “very bullish” relative to the overall market.