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Higher prices, improved technology and a significant amount of pipeline and storage capacity either in place or being developed will continue to increase deepwater Gulf of Mexico (GOM) natural gas development, two industry experts said on Wednesday.

Higher prices, improved technology and a significant amount of pipeline and storage capacity either in place or being developed will continue to increase deepwater Gulf of Mexico (GOM) natural gas development, two industry experts said on Wednesday.

Responding to pleas for either a deferral or stay of systemwide contract conversion on its pipeline, El Paso Natural Gas said last week that “for the record” it is prepared to switch full requirements (FR) service to contract demand (CD) service by the FERC-ordered deadline of May 1, and under the terms outlined by the agency last September.

Responding to pleas for either a deferral or stay of systemwide contract conversion on its pipeline, El Paso Natural Gas says that “for the record” it is prepared to switch full requirements (FR) service to contract demand (CD) service by the FERC-ordered deadline of May 1, and under the terms outlined by the agency last September.

The Rockies remained the last bastion of rising prices Thursday with gains on either side of 30 cents for CIG and Questar and about a quarter for Kern River and Northwest. Otherwise the cash market found it had already milked the last drop of price strength from a return of cold weather in the East. Even the Southwest basins, California and intra-Alberta joined eastern points in price movement that ranged from flat to down about a quarter in most cases. The Northeast again led the way downward with even bigger losses that ran as high as about 70 cents at the Algonquin citygate.

Natural gas futures took a long road to nowhere Thursday as prices moved to either side of the recent trading range on waves of local and commercial liquidation and short-covering.

North American natural gas markets stand warned that western Canadian supplies either have or soon will reach a turning point where they peak then start to run down, and the nation’s top transporter, TransCanada PipeLines, is starting to craft liquefied natural gas (LNG) import projects.

North American natural gas markets stand warned that western Canadian supplies either have or soon will reach a turning point where they peak then start to run down, and the nation’s top transporter is crafting import projects.

TXU Corp., which so far had remained unscathed in either rumor, innuendo or loss of investor confidence, saw the lights dim Friday after drastically revising downward its earnings forecasts through 2003. By midday, credit ratings agencies were re-evaluating the company’s operations, and investors were selling off their stocks in record numbers.