Considering

Williams late Monday said it was considering selling its natural gas processing and liquids extraction assets in Western Canada in an effort to stay afloat financially. Terms of the potential sale were not disclosed.

Williams on Friday announced it is considering selling its 6,000 mile-long Central interstate natural gas pipeline system in what it called “another definitive step toward strengthening its financial flexibility and developing a more tightly focused portfolio of energy businesses.” Earlier this year, Williams agreed to sell Kern River Gas Transmission and 1.47 million shares of convertible preferred stock to Berkshire Hathaway subsidiary MidAmerican Energy Holdings Co. (see NGI, March 11).

Faced with a sharp drop-off in company stock and severe credit crunch, Williams Cos. is considering bring in an outside partner for its marketing and trading arm, a company official said last Wednesday.

In a stunningly well-mannered reaction, considering what the market sometimes does after receiving fresh fundamental news, natural gas futures dipped slightly lower Thursday morning as traders learned that a larger-than-expected 68 Bcf was added to underground storage facilities last week. By 11:20 a.m. EDT the June contract had carved out its low for the session, leaving the prompt month to shuffle sideways within an extremely tight 5-cent range for the rest of the day. June settled at $3.438, down 2.1 cents from Wednesday’s close.

Staff at the Texas Public Utility Commission (PUC) is considering a recommendation to penalize six power companies for overscheduling power requirements in the Texas wholesale energy market during the early stages of the state’s retail electricity pilot program last summer.

Canada’s newly appointed natural resources minister is considering ending a ban against drilling in one of the nation’s most environmentally-sensitive spots, the Queen Charlotte Islands area offshore of British Columbia. Herb Dhaliwal pledged to keep an open mind — and hinted at adopting an encouraging attitude toward industry expansion in British Columbia — after an introductory meeting in Calgary with the Canadian Association of Petroleum Producers. Dhaliwal said he will be “very interested” to see the forthcoming report of a review panel that has been reconsidering Canada’s 30-year-old West Coast drilling moratorium since last summer.

Canada’s newly-appointed natural resources minister is considering ending a ban against drilling in one of the nation’s most environmentally-sensitive spots, the Queen Charlotte Islands area offshore of British Columbia. Herb Dhaliwal pledged to keep an open mind — and hinted at adopting an encouraging attitude towards industry expansion in British Columbia — after an introductory meeting in Calgary with the Canadian Association of Petroleum Producers. Dhaliwal said he will be “very interested” to see the forthcoming report of a review panel that has been reconsidering Canada’s 30-year-old West Coast drilling moratorium since last summer.

The Bush administration is considering plans that would ease environmental restrictions on upgraded existing coal-fired power plants and potentially force the delay or cancellation of a significant amount of new gas-fired power generation. Some industry observers estimate the potential impact at about 40,000 MW of generation capacity or roughly about 8 Bcf/d of gas demand.

The Bush administration is considering plans that would ease environmental restrictions on upgraded existing coal-fired power plants and potentially force the delay or cancellation of a significant amount of new gas-fired power generation. Some industry observers estimate the potential impact at about 40,000 MW of generation capacity or roughly about 8 Bcf/d of gas demand.