Eyes

With all eyes on the significant storage surplus, summer temperatures for the nation and the potential for hurricanes in the Atlantic, the natural gas futures market is at a crossroads, as evidenced by the prompt month’s recent directionally challenged trading pattern. After gapping lower at the open Monday, July natural gas reached both the day’s high of $6.600 and its low of $6.410 in morning trading and spent the rest of the session bouncing between the two before settling at $6.463, down 16 cents on the day.

As oil and natural gas infrastructure continues to limp back to service following Hurricanes Rita and Katrina, many eyes in the natural gas industry are focused on the Henry Hub near Erath, LA, a physical delivery point that is used as a benchmark for the Nymex futures contract. The hub has been offline since Sept. 22, and no one will even speculate on when it will be back to normal (see Daily GPI, Sept. 27, Sept. 28, Oct. 6).

El Paso Corp. officials on Thursday said the company expects to file applications later this month at FERC for two expansions of pipelines to transport natural gas production out of the Rocky Mountain region. In addition, it plans to submit an application during the second quarter for a line to deliver gas from its Elba Island liquefied natural gas (LNG) terminal in Savannah, GA, to northern Florida.

El Paso Corp. officials last Thursday said the company expects to file applications later this month at FERC for two expansions of pipelines to transport natural gas production out of the Rocky Mountain region. In addition, it plans to submit an application during the second quarter for a line to deliver gas from its Elba Island liquefied natural gas (LNG) terminal in Savannah, GA, to northern Florida.

FERC last Thursday issued a notice of inquiry (NOI) in which it asks for comments on whether it should change its policy on selective discounting to include discounts aimed at enhancing competition between natural gas pipelines.

FERC on Thursday issued a notice of inquiry (NOI) in which it asks for comments on whether it should change its policy on selective discounting to include discounts that are given to enhance competition between natural gas pipelines.

FERC on Thursday issued a notice of inquiry (NOI) in which it asks for comments on whether it should change its policy on selective discounting to include discounts that are given to enhance competition between natural gas pipelines.

The Los Angeles Department of Water and Power (LADWP) Wednesday held a pre-bidding conference with four natural gas suppliers regarding long-term supplies of up to 120 MMcf/d, some of which could be transported through the still idled western portion of Questar’s Southern Trails pipeline in California, a LADWP official said during an interview with NGI.

The Los Angeles Department of Water and Power (LADWP) Wednesday held a pre-bidding conference with four natural gas suppliers regarding long-term supplies of up to 120 MMcf/d, some of which could be transported through the still idled western portion of Questar’s Southern Trails pipeline in California, a LADWP official said during an interview with NGI.