Discounting

While discounting current highs as seasonal and political, the Canadian natural gas sector sees the North American market shaping up as strong enough to stimulate a fresh and sustained run at expanding supplies.

Three major Gulf of Mexico deepwater announcements were unveiled Wednesday, partially discounting reports by analysts recently that offshore production is tapering off based on rig counts. Confirming ramp ups following discoveries in deepwater were Dominion Exploration & Production Inc., and two involving Texaco, one with BP and another with Agip SpA.

Three major Gulf of Mexico deepwater announcements were unveiled Wednesday, partially discounting reports by analysts recently that offshore production is tapering off based on rig counts. Confirming ramp ups following discoveries in deepwater were Dominion Exploration & Production Inc., and two involving Texaco, one with BP and another with Agip SpA.

Discounting reports from other Wall Street analysts about permanent gas “demand destruction” and rapid supply growth being the causes of the current price collapse, Robert Christensen of First Albany Corp. said prices have fallen mainly in reaction to strong storage injections this spring and probably will rebound because of minimal supply growth. Christensen released a report last week titled “Still a `No Show’- Natural Gas Supply Growth” that makes a case for remaining bullish in the face of rapidly declining spot prices.

Discounting reports from other Wall Street analysts about permanent gas “demand destruction” and rapid supply growth being the causes of the current price collapse, Robert Christensen of First Albany Corp. said prices have fallen mainly in reaction to strong storage injections this spring and probably will rebound because of minimal supply growth. Christensen released a report this week titled “Still a ‘No Show’ – Natural Gas Supply Growth” that makes a case for remaining bullish in the face of rapidly declining spot prices.

Discounting recent short-term predictions for warmer weather,Salomon Smith Barney added another 75 cents to its gas priceforecast for this year. The prediction now totals $5/MMBtu at thewellhead or about $5.15 at the Henry Hub, but SSB still fears itmay be too low given the storage and gas production situation.

Discounting recent short-term predictions for warmer weather,Salomon Smith Barney added another 75 cents to its gas priceforecast for this year. The prediction now totals $5/MMBtu at thewellhead or about $5.15 at the Henry Hub, but SSB still fears itmay be too low given the storage and gas production situation.

The Georgia Public Service Commission has refused to approvethree industrial supply deals signed by Atlanta Gas Light becausethe LDC filed to become a part of Georgia’s competitive gas market.