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.
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Due to an expected rise in Alberta’s prices, eastern Canadiangas buyers will save up to 25% off their delivery costs byswitching suppliers, once the major ongoing pipeline expansionsfinish, a study jointly prepared by Energy ERA (Calgary) and A.E.Sharp & Associates (Toronto) said. The multi-client study,which involved a comprehensive evaluation of the entire NorthAmerican natural gas marketplace and focused on the continentalNortheast, said the savings are expected to begin in the 2000contract year and last until at least 2005. The largest savingsyear will be when the Alliance opens in 2001.
Cash prices either remained flat or rebounded a cent or two atmost delivery points across the board on Friday, mainly as resultof recent forecasts of above normal temperatures throughout thecountry, and the fact that the relatively low prices made for anattractive storage play opportunity. In addition to minor losses inthe Northeastern markets, Western and Rockies points, whichdemonstrated the most strength during the past week, alsoregistered declines of between 1-4 cents.
Mojave Pipeline will shut in its Mt. Poso delivery point foreight hours July 28 to modify piping. El Paso’s Monument B Plantwill be down eight hours on July 29 for piping repairs. TheIWARMONU interconnect will be completely shut in while ITEXNEUNwill be limited to 35 MMcf/d.