Flooding

After being offline since Sept. 22 due to storm damage and flooding from Hurricane Rita, Sabine Pipe Line LLC said it has lifted the force majeure for various interconnects on its system (see Daily GPI, Sept. 27). As a result, the New York Mercantile Exchange (Nymex) said Tuesday it is lifting the force majeure condition for both September and October 2005 natural gas futures contract delivery obligations, effective for gas day Oct. 5 (see Daily GPI, Sept. 28).

Sonat said Monday it has returned three compressor units to service at the Tarrant Station in Birmingham, AL since a flooding-related unscheduled outage occurred at the station last week (see Daily GPI, May 9). Repairs are continuing on the remaining units. Nominations for interruptible service (B-1 and IT) on the North System in Zones 2 and 3 remain at risk until all Tarrant units are operating again. Sonat also said it had returned three of four units to service Sunday night at the Bear Creek Storage Field in North Louisiana after they experienced an unscheduled outage over the weekend. A repair plan is being developed for the fourth unit. No impact on firm storage service is expected, but Sonat might be unable to schedule all nominations for interruptible services that rely on available storage injection capacity. A force majeure issued Friday in conjunction with discovery of a leak at Main Pass 296 was canceled Saturday.

Sonat reported Wednesday experiencing an unscheduled outage of the Tarrant Compressor Station in Birmingham, AL, due to flooding. No interruption to firm service was expected, but Sonat said it might not be able to accept all nominations for interruptible service (B-1 and IT) on the North System in Zones 2 and 3 until further notice.

Properties in the gas pipeline and storage segment, among the billions of dollars of assets flooding the market from companies looking to raise cash quickly, offer the most value at the fairest prices, according to Entergy Corp. officials who are studying the possibilities.

Properties in the gas pipeline and storage segment, among the billions of dollars of assets flooding the market from companies looking to raise cash quickly, offer the most value at the fairest prices, according to Entergy Corp. officials who are studying the possibilities hard.

Among the sea of red ink flooding the U.S. economy’s third-quarter earnings reports, San Jose, CA-based Calpine Corp., the merchant power plant developer/operator, Thursday stood out as a glaring exception, reporting a 102% increase in net income for the quarter ($320.8 million versus $158.5 million for the same quarter in 2000) and a 292% increase in quarterly revenues ($2.9 billion versus $744.8 million for year-earlier period). Diluted earnings/share were up 80% to 88 cents for the quarter.

Due to Houston area flooding, the Greenway 9 Plaza building that houses Tennessee’s Transportation Services Department is closed until further notice, the pipeline said Tuesday. Volume analysts can be reached at alternative phone numbers listed on the bulletin board. Affiliate ANR is also being affected by the disruption of power and communications at Greenway 9. Customers may use cell phone numbers for ANR representatives (provided on the bulletin board) or call Joseph Pollard, director, transportation services, at (713) 724-3095.