Softness in the cash market extended to almost all points Friday as existing negative price influences were supplemented by the usual weekend demand decline in the industrial sector.
Extended
Articles from Extended
Industry Brief
Operations at the Kenai, AK, liquefied natural gas (LNG) liquefaction and export terminal have been extended until October to fill an additional order, the Associated Press reported. In February the plant’s operator, ConocoPhillips, said the facility would close in the coming months due to the expiration of an existing LNG supply contract with a customer in Japan (see Daily GPI, Feb. 11). However, additional orders for shipments to Japan and one to China were secured.
INGAA Proposes Expansion of Integrity Management
Interstate natural gas pipelines will extended their integrity management programs — which currently are limited to only those areas in highly populated areas — to the entire pipeline infrastructure over the next two decades to ensure greater safety, said two officials with a major interstate pipeline group.
August Higher But Still in a Trading Range
August natural gas made it four in a row and continued to march higher Wednesday, prompted by reports showing extended heat over the eastern two-thirds of the country. At the closing bell August had risen 7.0 cents to $4.403 and September had tacked on 7.5 cents to $4.387. August crude oil rose 62 cents to $98.05/bbl.
Southern Union ‘Hearts’ Williams Counteroffer
Southern Union Co.’s share price on Friday jumped by double-digits after Williams extended a lucrative merger offer to counter one made earlier this month by Energy Transfer Equity LP (ETE).
Transportation Notes
Southern California Gas extended a high-linepack OFO through at least Saturday.
Duration of Hydro Continues to Cut Northwest Gas Use
As record water levels continue over an extended time period this year in the Pacific Northwest, the hydrolectric season has stretched into an eight-month-long period, producing a similarly long period in which natural gas-fired generation plants remain mostly idle, according to the most recent statistics from the U.S. Energy Information Administration (EIA).
Transportation Notes
In a belated notice early Friday Southern California Gas declared a high-linepack OFO for Friday that was extended into at least Saturday, with a 10% tolerance for positive imbalances staying in effect for both days.
Transportation Notes
In e-mail notices that arrived a minute apart Thursday morning, Southern California Gas declared a high-linepack OFO for the same day and then extended it through at least Friday. The tolerance for positive daily imbalances was set at 10% in both cases. The distributor also said it will lose 30 MMcf/d of storage injection capacity from next Tuesday through June 10 due to anomaly repairs on Line 1004.
Transportation Notes
Neither Southern California Gas nor Pacific Gas and Electric extended high-linepack OFOs beyond Saturday.