As shut-ins in the Gulf of Mexico continue to carve away available natural gas supplies for the winter, people are now turning their attention to exactly what type of winter the U.S. can expect. Depending on which forecasting organization you believe, some regions could be colder or warmer than normal.
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Prices in Big Post-Holiday Rally; Cindy Shut-ins Reported Light
Tropical storms may have been the big news of the day, but large rebounds in the cash market Tuesday weren’t exactly small potatoes. Storm-related shut-ins (see related story) combined with high heat levels in a few areas and a stronger Friday screen to generate price increases that were as small as a little less than a quarter, but mostly were substantially larger.
SGR Holdings, FPL Group Resources to Construct Southern Pines Storage Facility
After almost exactly three years since the project was filed at FERC (see Daily GPI, May 23, 2002), the Southern Pines Energy Center natural gas storage project to be located in Greene County, MS appears to be finally getting under way.
House LNG Bill Re-Introduced, May Be Inserted in New Energy Bill
Rep. Lee Terry (R-NE) has re-introduced legislation aimed at fostering meaningful expansion of the nation’s capacity to receive liquefied natural gas (LNG). The bill is “exactly similar” to the one that the House lawmaker introduced last May (see Daily GPI, May 21, 2004).
Drumbeat for Mandatory Power Reliability Rules Grows Louder
While it remains unclear what exactly caused last month’s unprecedented blackout in the U.S. and Canada, a wide-ranging group of stakeholders last week said that if Congress is serious about preventing a similar catastrophe from happening again, federal lawmakers must make currently voluntary reliability standards mandatory for the power industry.
Constellation CEO: Bankruptcies Likely to Move Power Assets
While the generation asset sale arena may not have exactly been a buyer’s market to date, a string of recent generator bankruptcies may finally start to push prices down to the point over the next couple of quarters where companies such as Constellation Energy Group take a closer look at bidding on power plants, Mayo Shattuck, Constellation’s CEO, said last Thursday.
No One is Safe from Enron Exposure
As the Enron debacle continues to unfold, energy companies, financial institutions and insurance firms are realizing exactly how exposed their respective companies actually are. Since the Dynegy/Enron Corp. merger was called off, companies have been eager to distance themselves, as well as confess to investors their exposure levels to the teetering giant.
Choppy Trading Does Little to Dissuade Increasing Bullish Sentiment
Almost exactly as it did Friday, natural gas futures opened higher, but ultimately tumbled lower Monday as technical factors and scale-up selling dictated the trading action. The August contract finished at $2.947, up 1.4 cents for the day, but more than a nickel below its mid-morning high at $3.00. Volume was heavy with an estimated 108,301 contracts changing hands.
Choppy Trading Does Little to Dissuade Increasing Bullish Sentiment
Almost exactly as it did Friday, natural gas futures opened higher, but ultimately tumbled lower Monday as technical factors and scale-up selling dictated the trading action. The August contract finished at $2.947, up 1.4 cents for the day, but more than a nickel below its mid-morning high at $3.00. Volume was heavy with an estimated 108,301 contracts changing hands.
No One Safe from Enron Exposure
As the Enron debacle continues to unfold, energy companies, financial institutions and insurance firms are realizing exactly how exposed their respective companies actually are. Since the Dynegy-Enron Corp. merger was called off early last week, companies have been eager to distance themselves, as well as confess to investors their exposure levels related to the teetering giant.