Capacity

Tennessee Gas Pipeline Co. is holding a binding open season to obtain commitments for firm capacity on its proposed Northeast ConneXion-New England expansion project. The open season began Friday (Oct. 15) and will conclude on Dec. 15.

Tennessee Gas Pipeline Co. said Monday it is holding a binding open season to obtain commitments for firm capacity on its proposed Northeast ConneXion-New England expansion project. The open season began Friday and will conclude on Dec. 15.

Despite the fact that the Gulf of Mexico’s natural gas production is still only at near 80% of capacity, October natural gas futures continued late last week’s sell-off streak. One day ahead of expiration, the prompt month dropped 13 cents to close at $5.262.

KeySpan Corp., through its KeySpan Energy Development Corp. unit, last week picked up a 21% equity interest in the stalled Millennium Pipeline project, which hopes to deliver new natural gas supplies to New York and the Northeast by the winter of 2006-2007.

President Bush believes stepped-up development of liquefied natural gas (LNG) capacity, as well as his administration’s efforts to reduce the backlog of drilling permits and provide incentives for development of offshore natural gas, will help satisfy in part expanding gas demand and offset escalating prices, according to an exclusive interview with the president in the July issue of the American Gas Association’s (AGA) American Gas magazine.

President Bush believes stepped-up development of liquefied natural gas (LNG) capacity, as well as his administration’s efforts to reduce the backlog of drilling permits and provide incentives for development of offshore natural gas, will help satisfy in part expanding gas demand and offset escalating prices, according to an exclusive interview with the president in the July issue of the American Gas Association’s (AGA) American Gas magazine.

lehman price forecast

Continued strength in oil prices, strong demand growth, limited spare capacity within OPEC and ongoing challenges to grow production and add reserves have led Lehman Brothers to once again raise oil and gas price forecasts through 2005.

Saying maintenance on Belen (NM) Station’s #1 turbine had been completed ahead of schedule, El Paso increased capacity of the San Juan Crossover to 650 MMcf/d Friday.