Failures

Pointing to international investment house failures that rebounded to their U.S. affiliates and ultimately the American taxpayer, Chairman Gary Gensler of the Commodity Futures Trading Commission (CFTC) said those foreign-based affiliates should come under the same market reforms being installed in the United States.

Extreme cold in the Southwest Wednesday through Friday, causing well freeze-offs and compressor failures due to power outages, curtailed gas deliveries to thousands of customers in New Mexico, Arizona and Southern California supplied through El Paso Natural Gas and Transwestern Pipeline.

In the aftermath of a continuing string of natural gas pipeline/infrastructure failures, the pressure from federal and state regulators will grow and so too will the capital expenditures (capex) among utilities and large transmission pipeline operators, according to Southwest Gas Corp. CEO Jeffrey Shaw. He made the observations earlier in August in response to questions from financial analysts.

Natural gas distributors in Texas will soon have to develop programs that assess the risks of failures on their pipeline systems and prioritize equipment replacements under a rule adopted by the Railroad Commission of Texas (RRC).

Natural gas distributors in Texas will soon have to develop programs that assess the risks of failures on their pipeline systems and prioritize equipment replacements under a rule adopted last week by the Railroad Commission of Texas (RRC).

Given recent incidents involving old cast iron distribution pipeline failures, the odds are growing that some form of pipeline safety legislation could emerge from Congress later this year, some industry sources told NGI last week. Following the Allentown tragedy earlier this month (see related story), the Pennsylvania State Senate is also looking into ways to improve pipeline safety as Marcellus Shale development within the state continues to ramp up.

Given recent incidents involving old cast iron distribution pipeline failures, the odds are growing that some form of pipeline safety legislation could emerge from Congress later this year, some industry sources told NGI Monday. Following the Allentown tragedy last week (see related story), the Pennsylvania State Senate is also looking into ways to improve pipeline safety as Marcellus Shale development within the state continues to ramp up.

Extreme cold in the Southwest Wednesday through Friday, causing well freeze-offs and compressor failures due to power outages, curtailed gas deliveries to thousands of customers in New Mexico, Arizona and Southern California supplied through El Paso Natural Gas and Transwestern Pipeline.

With the natural gas futures market’s recent failures to get above $8.620, some traders, citing not enough cold or winter left to drain storage to price-pressuring levels, are forecasting lower prices. The March contract on Wednesday settled at $8.388, down 4.8 cents from Tuesday.