Major El Paso Corp. investors Selim K. Zilkha and Oscar S. Wyatt Jr. will have to win the support of three major institutional stockholders in California if they are to succeed in taking control of the board of directors from the financially weakened company at the annual El Paso shareholder meeting this year, a veteran energy analyst said.
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Iroquois Backs Out of Long Island Pipe Project
Iroquois Gas Transmission System LP has notified FERC that it is withdrawing its application to build its eastern Long Island (ELI) extension due to “lack of continued customer support for this project,” which would have provided approximately 175,000 Dth/d of new firm transportation service to the expanding natural gas market through a new line under Long Island Sound from Connecticut.
Analyst: Gas Supply Decline to Keep Prices Above $4 — But $6-Plus if Summer Sizzles
To date, the heating season (from Oct. 4 through Feb. 6) has been slightly colder — 2.3% colder to be precise — but there has been a trend increase in seasonally adjusted demand, implying that the decline in the natural gas supply will pressure prices in the months ahead to remain at a constant above $4 and higher than $6 if the summer months are above normal, according to energy analyst Stephen Smith.
Nearly All Points Up Strongly; Zone 6-NYC Up to $22.00
Buoyed by a flow date that several sources expect to be the coldest yet in the East this winter, an approaching return of severe weather in the South, and a strong screen rebound, cash prices recorded across-the-board increases Wednesday.
Southwest Gas Accused of Trying to Block El Paso Service Conversion
Southwest Gas Corp.’s plea to further push back the date for the conversion of full-requirements (FR) service on El Paso Natural Gas to contract-demand (CD) service is merely a foot-dragging ploy on the part of the local distribution company (LDC), and should be rejected by FERC outright, said a group of major natural gas producers and marketers served by the pipeline.
Southwest Gas Accused of Trying to Block El Paso Service Conversion
Southwest Gas Corp.’s plea to further push back the date for the conversion of full-requirements (FR) service on El Paso Natural Gas to contract-demand (CD) service is merely a foot-dragging maneuver on the part of the local distribution company (LDC), and should be rejected by FERC outright, said a group of major natural gas producers and marketers served by the pipeline.
Nicor Gas Readies for Customer Choice on March 1
Continuing to ramp up for a March 1 launch date, Nicor Gas said natural gas marketer participation in its Customer Select program in Illinois is up to 11 suppliers. On March 1 the pilot program becomes permanent and Nicor Gas customers will be able to voluntarily choose their natural gas supplier. Customers who elect not to join the program can stay with Nicor Gas as their supplier.
Nicor Gas Readies for Customer Choice on March 1
Continuing to ramp up for a March 1 launch date, Nicor Gas said Wednesday that natural gas marketer participation in its Customer Select® program in Illinois is up to 11 suppliers. On March 1 the pilot program becomes permanent and Nicor Gas customers will be able to voluntarily choose their natural gas supplier. Customers who elect not to join the program can stay with Nicor Gas as their supplier.
CA Power Sellers Cited for Potential Refunds
FERC last week issued an order for the smallest refund amount to the California market to date, alerting three power suppliers that they must justify $587,000 worth of wholesale electricity sold during Stage Three emergencies in the month of March or pay customers back for overcharges.
Alaskan Northwest Pipeline Application Still Viable
Calgary-based Alaskan Northwest Natural Gas Transportation Co. plans to keep up to-date its 20-year-old application for a pipeline right-of-way on Alaskan lands in its efforts to secure a front row seat if a natural gas pipeline is ever approved. The original application was filed in 1981 and remains active and in good standing, calling for a parallel route to the Alaska Highway.