Tennessee said it has partially restored service at Compressor Station 25 in Cleveland, TX, where it declared a force majeure event in late November due to equipment failure (see Daily GPI, Dec. 1, 2005). However, due to the unavailability of certain parts, three units still remain out of service, it added in a Friday notice. Each unit is targeted to be back in service as follows: one by late January, a second by mid-April and the third by early May. Tennessee had periodically been restricting about 15% of station capacity since the equipment failure, but said Friday that based on current throughput, it does not anticipate any further curtailments. However, the pipeline said, if throughput rises, it estimates that about 5% of Station 25 volumes would be restricted.
Event
Articles from Event
Transportation Notes
Tennessee declared a force majeure event Friday afternoon for meters on its 524C-600 Line due to a leak. The South Timbalier 54 meter offshore Louisiana was shut in for the duration of repairs, which was undetermined at that point.
Mild Forecasts Knock Futures Back; Funds May Be Next Buyers
Following the old “buy the rumor, sell the event” trading mantra, natural gas futures tumbled lower Monday as sellers punished the market just as the coldest weather of the season was arriving in the eastern United States.
Transportation Notes
Transcontinental Gas Pipe Line declared a force majeure event on its mainline in New Jersey. The pipeline said it received reports about an odor and upon investigation discovered a leak on its mainline “C” on the Long Beach lateral in the Sayreville area of New Jersey on Tuesday. Emergency repairs are underway. The outage reduced deliveries by about 300,000 Dth/d, affecting three customers. New Jersey Natural lost some service but service was restored Wednesday evening, a Transco spokeswoman said. Several meters owned by PSEG, New Jersey Natural and LILCO, will remain out of service until repairs can be made over the next couple days.
Transportation Notes
Transcontinental Gas Pipe Line declared a force majeure event on its mainline in New Jersey. The pipeline said it received reports about an odor and upon investigation discovered a leak on its mainline “C” on the Long Beach lateral in the Sayreville area of New Jersey on Tuesday. Emergency repairs are underway. The outage reduced deliveries by about 300,000 Dth/d, affecting three customers. New Jersey Natural lost some service but service was restored Wednesday evening, a Transco spokeswoman said. Several meters owned by PSEG, New Jersey Natural and LILCO, will remain out of service until repairs can be made over the next couple days.
Storage Non-Event Allows Bulls to Take Profit
Following the announcement of a 72 Bcf storage injection, the June natural gas futures contract jumped 9 cents from $6.27 to trade at $6.36 as of 10:39 a.m, revisiting the high set on Tuesday. However, the contract then worked lower for the entire afternoon, trading within the $6.19-6.29 range, before settling at $6.219, down 9.1 cents on the day.
Sizeable Storage Build Fails to Provide Expected Downward Pressure
The most significant futures event during the relatively quiet holiday week was the continuing rise in gas futures on Thursday despite an unexpected 20 Bcf storage injection reported by the Energy Information Administration. After the May futures contract posted less than a one-cent change for both Monday and Tuesday, the contract found upward momentum on Wednesday and Thursday, settling up a little more than 6 cents each day.
Holiday-Filled Week Starts With Non-Event Monday as Futures Close Nearly Flat
With Passover beginning Tuesday and Good Friday acting as a book-end, claims that this week could be “quiet” held true Monday as the natural gas futures May contract tested the $5.9 level early, but used the rest of the session to meander downward, closing at $5.804, less than a cent lower than Friday’s close.
Software Glitch Shuts Down Nymex ; 172 Bcf Draw Seen as Non-Event
As with every other non-expiration day at Nymex, Thursday’s daily natural gas settlement prices were calculated using a weighted average of the final two minutes of trading. What sets Thursday apart from every other day in the commodity’s 13-year history is that this decisive two-minute trading window took place from 11:28 to 11:30 a.m. EST.
Copper Eagle Conducts Open Season for AZ Storage Facility
Copper Eagle Gas Storage LLC., a joint event of El Paso Corp. and Pinnacle West Energy, currently is conducting a non-binding open season to assess market interest in a proposed high-deliverability natural gas storage facility to be located west of Phoenix, AZ, in Maricopa County.
