Contracts

Although spot market natural gas prices have significantly declined, the prices of gas futures contracts remain well above the long-term price forecast and historical average prices of Fitch Ratings, analysts said in a Wholesale Power Market Update. Over the next 12 months, Fitch expects gas prices to fluctuate between $6 and $10/MMBtu. Longer-term, prices are forecast to average between $5-6/MMBtu.

Enterprise Products Partners LP said Tuesday it signed new contracts to provide 14 Bcf/year of gas transportation and storage services to CenterPoint Energy Resources Corp.’s natural gas utility primarily in the Houston metropolitan area. Enterprise, which operates one of the largest intrastate pipeline systems in Texas, said the deal marks the first time it has had the opportunity to serve the growing Houston area distribution market.

Enterprise Products Partners LP said Tuesday it signed new contracts to provide 14 Bcf/year of gas transportation and storage services to CenterPoint Energy Resources Corp.’s natural gas utility primarily in the Houston metropolitan area. Enterprise, which operates one of the largest intrastate pipeline systems in Texas, said the deal marks the first time it has had the opportunity to serve the growing Houston area distribution market.

Ameren and Nicor Gas have signed 20 year contracts to purchase pipeline quality synthetic natural gas starting in 2010 from a coal gasification plant to be built by Power Holdings LLC in Southern Illinois.

Ameren and Nicor Gas have signed 20 year contracts to purchase pipeline quality synthetic natural gas starting in 2010 from a coal gasification plant to be built by Power Holdings LLC in Southern Illinois.

Duke Energy Gas Transmission (DEGT) said it will expand the Texas Eastern Transmission system from Lebanon, OH, to New Jersey by up to 150,000 Dth/d to meet firm contracts with PSEG Power LLC and New Jersey Natural Gas.

The New York Mercantile Exchange Inc. (Nymex) announced margin decreases for its natural gas, Nymex miNY natural gas, Henry Hub swing swap, Henry Hub swap, and Henry Hub penultimate swap futures contracts, as of the close of business Thursday.

Soaring fuel prices, which slashed the value of unwinding energy trading contracts collapsed Williams’ 3Q earnings by 96%, the company reported Thursday. However, the Tulsa-based company raised its profit forecast for the year on the continued strong performances of its other three major business units: exploration and production (E&P), natural gas pipelines and midstream processing.

Soaring fuel prices, which slashed the value of unwinding energy trading contracts collapsed Williams’ 3Q earnings by 96%, the company reported Thursday. However, the Tulsa-based company raised its profit forecast for the year on the continued strong performances of its other three major business units: exploration and production (E&P), natural gas pipelines and midstream processing.