Flooded

As the summer recess approaches, Pennsylvania is flooded with proposals to tax the Marcellus Shale industry.

As the summer recess approaches, Pennsylvania is flooded with proposals to tax the Marcellus Shale industry.

Damaged offshore natural gas pipelines, platforms and rigs, flooded onshore gas processing facilities and a lack of power hampered a quick return to normal operations last week for Gulf Coast facilities after Hurricane Ike made landfall in Galveston, TX, in the pre-dawn hours of Sept. 13.

U.K. gas traders had an unusual situation on their hands last week. The opening of the Langeled pipeline between Norway and the United Kingdom flooded the market with supplies and pushed prices below zero. That is, sellers were paying buyers up to 5 pence/therm for the privilege of “selling” their gas.

U.K. gas traders have an unusual situation on their hands. The opening of the Langeled pipeline between Norway and the United Kingdom last weekend has flooded the market with supplies and pushed prices below zero. That is, sellers are paying buyers up to 5 pence/therm for the privilege of “selling” their gas.

The nation will be flooded with excess gas-fired electric generation for at least another five years, according to a new survey of 57 generators by Merrill Lynch. The analysts predicted comfortable reserve margins on average nationwide, with a few tight spots (New York, Long Island, possibly California again), through 2008-2009.

The nation will be flooded with excess gas-fired electric generation for at least another five years, according to a new survey of 57 generators by Merrill Lynch. The analysts predicted comfortable reserve margins on average nationwide, with a few tight spots (New York, Long Island, possibly California again), through 2008-2009.

Florida just got two steps closer to being flooded by naturalgas via two proposed pipelines. The competing Gulfstream andBuccaneer pipeline projects, which would extend from Mobile, AL,across the Gulf of Mexico to the west coast of Florida and tomarkets across the Florida peninsula, are neck and neck in theirregulatory race after receiving preliminary approvals onnon-environmental grounds from the Federal Energy RegulatoryCommission (FERC) yesterday.

While most natural gas customers in Floyd-ravaged areas of theEast Coast were expected to be back on line by today – over a weekafter the hurricane struck – recovery for some in North Carolinawill be a long term project.