Complex

Bringing some form of reasonableness back to the natural gas futures complex, the November contract started the week by giving back a small percentage of the sizeable gain recorded last week. The prompt month, which expires Wednesday, settled down 21.5 cents at $7.89.

Bringing some form of reasonableness back to the natural gas futures complex, the November contract started the week by giving back a small percentage of the sizeable gain recorded last week. The prompt month, which expires Wednesday, settled down 21.5 cents at $7.89.

Canada’s northern gas project has quietly dropped its target of this summer for filing completed construction applications, saying the process has become too complicated to rush.

Canada’s northern gas project has quietly dropped its target of this summer for filing completed construction applications, saying the process has become too complicated to rush.

Trade groups representing major producers and local distribution companies (LDC) have called on FERC to give industry more time to reach a consensus on the hot-button issues involving the energy content of the domestic gas stream and imported liquefied natural gas (LNG), but they did not say how much time would be needed.

Apparently not wanting to try to build an energy complex against the wishes of the local community, San Jose, CA-based Calpine Corp. announced late Wednesday it was dropping its plans for developing a liquefied natural gas (LNG) terminal and other facilities in the far northern end of California in Humboldt Bay. Calpine did not say so, but it is assumed the Eureka City Council turned down the energy developer’s request for an exclusive right to assess a site on part of a little used airport.

Once again, strong movement the day before in the energy futures complex failed to elicit a similar response from the cash market. Nearly all points were close to flat Tuesday, and the few up-and-down changes were limited to about a nickel or so in both directions.

Buoyed by run-ups throughout the energy futures complex the day before and the stubborn refusal of wintry weather to exit the market stage in some areas, cash prices recorded across-the-board gains in Friday’s trading for weekend flows.

The deadly explosion at the liquefied natural gas (LNG) complex in Skikda, Algeria in January “should not be a basis for scare-mongering” attacks in the United States against the fuel, said the Algerian ambassador to the U.S. last Tuesday.