Bangor Hydro-Electric Co. announced plans to sell its 50% stakein Bangor Gas, the recently formed local distribution company thatwill deliver Sable Island gas to retail customers in the state ofMaine once the Maritimes pipeline begins service this winter.Sempra Energy owns the other half of the company, which was formedin 1997 to distribute gas production to customers in and aroundBangor and other cities in Maine.
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Policy Changes Expected to Continue in CA
Despite failing this summer to deliver several high-profileenergy restructuring corrective laws, California’s statelegislature is expected to be the focal point of future energypolicymaking again next year, with more involvement from thegovernor’s office, according to a variety of energy expertsaddressing a two-day industry workshop in San Francisco.
Storage and Storms Deliver One-Two Punch
Propelled by a tropical depression swirling in the Bay ofCampeche and concerns of yet another bullish storage report,natural gas futures spiraled higher yesterday as traders coveredshort positions. That buying interest pushed the September contractto $2.805 — the highest mark for a spot month contract sinceDecember of 1997 — before settling at $2.792 for the session.
CMP Natural Inks Gas Delivery Deal with Calpine
CMP Natural Gas (CMPNG) said it has signed a long-term contract to deliver gas on a proposed pipeline lateral to a 540 MW gas-fired power plant being built in Westbrook, ME, by Calpine Corp. Construction of the $200 million electric generating facility is under way and Calpine said it will require gas service by June 1, 2000.
CMP Natural Inks Gas Delivery Deal with Calpine
CMP Natural Gas (CMPNG) said it has signed a long-term contractto deliver gas on a proposed pipeline lateral to a 540 MW gas-firedpower plant being built in Westbrook, ME, by Calpine Corp.Construction of the $200 million electric generating facility isunder way and Calpine said it will require gas service by June 1,2000.
Arledge: Price Expectations Support 30 Tcf Market
The North American natural gas industry can deliver 30 Tcf ofgas annually by 2010, but it will take over $50 billion to do it,according to Coastal Chairman David Arledge.
Storage, Weather Deliver Market More of Same
The bears were at it again at the New York Mercantile ExchangeWednesday when follow-through selling on the heels of Tuesday’sprecipitous price falloff took prices lower. The prompt Januarycontract gapped lower at the open and never looked back, posting a6.6-cent loss to $1.847 for the session.
CIG, Paiute Plan New Nevada Pipe
Coastal’s Colorado Interstate Gas (CIG) has teamed up withSouthwest Gas subsidiary Paiute Pipeline on a new gas pipelineproject designed to deliver new coal-bed methane production in Utahto growing markets in Nevada and Southern California.
Sempra Partners With HVAC Provider
Sempra Energy Solutions, the energy services unit of SempraEnergy, and Comfort Systems USA formed a strategic alliance todeliver energy solutions to mid-sized commercial and industrialcustomers. The companies will jointly market products and servicesinitially in California and the Western United States, andeventually nationwide.
NE Hub Hangs on Consultant’s Recommendations
Reed Consulting is scheduled to deliver analysis to FERC todaythat will decide the fate of the proposed NE Hub, a major saltcavern storage facility and market hub that would add 500 MMcf/d ofdaily deliverability to the gas grid in northern Pennsylvania. Butan eleventh-hour motion by CNG Transmission, a competitor of theproject, could influence and delay the outcome.