Dealing

TransCanada PipeLines CFO Russell K. Girling said his company will be dealing with declining Western Canadian gas production over the next few years, but he believes that within several years Canadian supply will stabilize and remain flat over a significant period.

TransCanada PipeLines CFO Russell K. Girling said his company will be dealing with declining Western Canadian gas production over the next few years, but he believes that within several years Canadian supply will stabilize and remain flat over a significant period.

FERC plans to rule on the “Big Four” cases dealing with the alleged manipulation of the California natural gas and electricity markets at its next regular meeting on March 26, Chairman Pat Wood said last Wednesday.

FERC was dealing out pipeline certificates like cards at a Black Jack table last Wednesday at its regular agenda meeting. Recipients included the Georgia Strait Crossing pipeline, Northwest Pipeline for a mainline expansion, Southern Natural for its South System II expansion, South Carolina Pipeline for a new line to the Elba Island LNG terminal, Millennium Pipeline (see separate story), two projects designed to serve Long Island (see separate story), and to Northern Natural Gas for compression expansion in Nebraska. Kinder Morgan Texas also won a presidential permit for a border crossing project.

FERC was dealing out pipeline certificates like cards at a Black Jack table on Wednesday at its regular agenda meeting. Recipients included the Georgia Strait Crossing pipeline, Northwest Pipeline for a mainline expansion, Southern Natural for its South System II expansion, South Carolina Pipeline for a new line to the Elba Island LNG terminal, Millennium Pipeline (see separate story) and two projects designed to serve Long Island (see separate story). Kinder Morgan Texas also won a presidential permit for a border crossing project.

In a week marked by dealing and squealing on each side, Canadian Superior Energy Inc. said last week that Canadian 88’s decision to “arbitrarily postpone” a special shareholders’ meeting to vote on a takeover bid proposed by Canadian Superior was imposing an “unnecessary delay on its own shareholders” and was continuing to “fail to provide shareholders with an alternative transaction, or even to indicate a going forward strategy for the company.”

FERC has directed the Cross Bay Pipeline Co. LLC to respond to aseries of questions dealing with the financing, leasing,engineering, operations and rate design of the East Coast projectthat has come under fire from customers.

What a difference a week can make when you are dealing with thevolatility of natural gas futures. As recently as last Friday whenprices carved out a $4.98 low, it appeared that bulls had turned intheir horns and donned their bear coats for the winter. And whynot? Storage injections were picking up, demand was light andtechnicals had turned negative. $4.50 here we come, right?

California regulators approved a settlement last week dealingwith Pacific Gas and Electric’s imbalance procedures andoperational flow orders (OFO). The California Public UtilitiesCommission (CPUC) however, did not act on the much tougher issuesincluded in the proposed interim and comprehensive settlementsfiled earlier this year by Southern California Gas.