Just one day after it appeared that the central Gulf of Mexico would receive the brunt of Hurricane Ivan’s wrath, new forecasts now suggest instead that Florida might be forced to brace for its third powerful storm in a month’s time. The forecast sent natural gas futures sharply lower in afternoon trading Wednesday.
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Canada Cuts Gas Exports to Refill Storage
As Canada continues its own struggle to refill gas storage, the country’s southern neighbor is feeling the brunt of the impact in the form of severely reduced imports, according to Jefferies & Co. analyst Frank Bracken. For the first week of June, Canadian exports logged their lowest weekly level in six-years.
Canada Cuts Gas Exports to U.S. to Focus on Own Storage Situation
As Canada continues its own struggle to refill gas storage, the country’s southern neighbor is feeling the brunt of the impact in the form of severely reduced imports, according to Jefferies & Co. analyst Frank Bracken. For the first week of June, Canadian exports logged their lowest weekly level in six-years.
Industrials Bear the Brunt of SoCal’s Capacity Costs
In an $88.1 million switch, California regulators last weekdecided to reallocate the bulk of Southern California Gas Co.’s$161.8 million in 1997 step-down charges paid to El Paso NaturalGas and Transwestern interstate pipelines serving southernCalifornia from the mass regulated consumers to large industrial(noncore) customers. SoCalGas maintains that the buy-out eventuallywill save its customers between $320 and $525 million.