Channel

Houston-based Copano Energy LLC. expanded its commodity risk management portfolio through the purchase of Houston Ship Channel Index natural gas call spread options to hedge a portion of its net operational short position in gas when operating in a processing mode at its Houston Central Processing Plant.

Cheniere Energy Inc. last Tuesday said it secured an option on a large site at the mouth of the Calcasieu Channel in Cameron Parish, LA, to develop its fourth proposed liquefied natural gas (LNG) terminal along the U.S. Gulf Coast.

Cheniere Energy Inc. on Tuesday said it has secured an option on a large site at the mouth of the Calcasieu Channel in Cameron Parish, LA, to develop its fourth proposed liquefied natural gas (LNG) terminal along the U.S. Gulf Coast.

Cheniere Energy Inc. on Tuesday said it has secured an option on a large site at the mouth of the Calcasieu Channel in Cameron Parish, LA, to develop its fourth proposed liquefied natural gas (LNG) terminal along the U.S. Gulf Coast.

El Paso Energy Intrastate (formerly known as Channel)experienced a rupture of its 30-inch line Monday evening nearBaytown, TX, east of Houston. There was no fire, but a voluntaryevacuation of the area was conducted, a spokeswoman said. Oneinjury was reported as a result of the evacuation, and as of middayTuesday everyone had returned home except for two families whosehomes were damaged, she said. No service interruptions are expectedas all demands are being met through gas re-routing or fuelswitching, the spokeswoman said. The line probably will be returnedto service by the end of the week. It is owned 50-50 by El PasoEnergy and Enron Corp. and is operated by El Paso Field Services.

After breaking out of its downward trading channel and reachinga high of $2.24, the June Nymex contract fell back considerablyFriday and settled the day up only 0.8 cents to $2.167. Strongtechnical buying and position covering ahead of the weekend seemedto spearhead the rally, but the door to even higher prices slammedshut not long before the closing bell.