Control

Western Gas Resources Inc. of Denver said last week the Wyoming Public Service Commission (PSC) approved its application to transfer control (at the ultimate parent level) of Mountain Gas Transportation Inc. and MGTC Inc. from Western to Anadarko Petroleum Corp. This was the last remaining regulatory approval required prior to the closing of the merger of Western with a subsidiary of Anadarko (see NGI, June 26).

Western Gas Resources Inc. of Denver said Tuesday the Wyoming Public Service Commission (PSC) has approved its application to transfer control (at the ultimate parent level) of Mountain Gas Transportation Inc. and MGTC Inc. from Western to Anadarko Petroleum Corp. This was the last remaining regulatory approval required prior to the closing of the merger of Western with a subsidiary of Anadarko (see Daily GPI, June 26).

The Connecticut Department of Public Utility Control (DPUC) on Wednesday approved, with modifications, an amended request for an 8.4% rate hike for Southern Connecticut Gas Co. (SGC) to begin Jan. 1. SGC serves about 170,000 customers in the Greater New Haven and Bridgeport areas of the state.

Looking to wrest control from the bulls, natural gas futures bears received just the fundamental news they needed Thursday morning as the Energy Information Administration reported that 52 Bcf was injected into U.S. gas storage facilities for the week ended Aug. 12. While not overtly bearish, the number was above most industry estimates, including the ICAP-Nymex storage options auction’s projection of a 49.5 Bcf injection.

A congressional proposal that would give states more control over their offshore resources and potentially open up more coastal waters to offshore natural gas drilling is “starting to get a lot of traction” in states, including Virginia, Georgia and South Carolina, said a spokesman for the American Gas Association (AGA) Thursday.

Despite claims to the contrary, the influence of non-commercial trading in the gas futures market is growing rapidly and the industry will have to adapt, said Tom Lord, president of Volatility Managers LLC. The question of how it will adapt is not easy to answer, but the process is likely to be painful for most, and could include an exodus of industrial customers seeking shelter in countries with regulated markets.

Despite claims to the contrary, the influence of non-commercial trading in the gas futures market is growing rapidly and the industry will have to adapt, said Tom Lord, president of Volatility Managers LLC. The question of how it will adapt is not easy to answer, but the process is likely to be painful for most, and could include an exodus of industrial customers seeking shelter in countries with regulated markets.

Putting an end to the two-day string of higher natural gas futures settlements, the natural gas bears were having their way Thursday after the Energy Information Administration (EIA) reported that a healthy 108 Bcf was put into underground storage for the week ended July 9.

A coalition of 18 Midwest municipal gas utilities has accused five major natural gas producers of engaging in activities to “control and unlawfully” raise the price of gas in the United States in restraint of trade or commerce.