Dives

Coral Energy jumped head first into a new arena last Friday withits purchase of 2.8 Bcf of liquefied natural gas (LNG) fromMalaysia LNG Sdn. Bhd. The shipment will be delivered to CMS’ LakeCharles, LA, LNG import facility later this month. Terms of thetransaction were not released.

In an effort to attract customers in Semco Gas’ pilotderegulation program, Consumers Energy is offering a deal it sayswill save switching residents up to $70 over three years. Consumersis guaranteeing a price of $2.84 per Mcf for three years, comparedto Semco’s price of $2.94 over the same period of time. Consumerswould start delivering gas to new customers April 1, 1999.

It didn’t take long to eclipse what had been the lowest-everprices for a December date recorded by Daily GPI, and the new lowmarks weren’t even close to the ones seen earlier in the week.Continuing record warmth in the eastern two-thirds of the nationyielded record low gas prices for this time of year. Gulf Coastnumbers were almost a dollar under December indexes only three daysinto the month.