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Awash in natural gas storage proposals, but short on follow-through in getting one built, Arizona energy stakeholders again have their hopes raised this month by the prospect of a major project proposed by a Houston-based developer in an area between Phoenix and Tucson. The Arizona Corporation Commission (ACC) has been briefed on the 5 Bcf proposal and could eventually hold hearings on it if utilities it regulates contract for storage.

After September natural gas futures gained barely more than a dime on Monday, bullish traders were unable to produce any follow-through momentum on Tuesday as the front-month contract reached a high of $8.479 before ultimately closing out the day’s regular session at $8.330, down 1.9 cents from Monday’s finish.

Proving that it pays to follow instructions, TransCanada Corp. has been chosen by Alaska Gov. Sarah Palin and her administration to build a pipeline from the North Slope to Alberta to commercialize the state’s vast natural gas reserves. The pipeline company’s proposal, called TC Alaska, will be presented to state lawmakers, who will have 60 days to decide whether to move forward with the project.

Proving that it pays to follow instructions, TransCanada Corp. has been chosen by Alaska Gov. Sarah Palin and her administration to build a pipeline from the North Slope to Alberta to commercialize the state’s vast natural gas reserves. The pipeline company’s proposal, called TC Alaska, will be presented to state lawmakers, who will have 60 days to decide whether to move forward with the project.

Unable to capitalize on the recent momentum higher and break out of the long-term $7-8 trading range, natural gas futures bulls found no follow-through buying for their cause Tuesday. After trading between $7.680 and $7.855, June natural gas ended up closing at $7.718, down 14.5 cents from Monday’s close.

Congress last week approved legislation that establishes new civil penalties for third-party excavators that fail to follow the nationwide one-call program and cause damage to pipelines.

September natural gas futures pushed lower Friday as follow-through selling continued in the wake of an overanticipated rally. September natural gas traded within a slim 22-cent range Friday before settling at $7.269, down 26 cents on the day but 2.3 cents higher than the previous week’s close.

Even with crude futures breaking back above $70/bbl on Tuesday, June natural gas futures managed to resist the temptation to follow. For the second consecutive session, prompt month natural gas traded within a slim range before setting its sights lower. After hobbling between $6.560 and $6.720, June natural gas closed at $6.581, down 11.5 cents on the day and 19.4 cents lower for the week to date.

Exploration and production (E&P) companies take different routes in their drive to add value, and their road maps may follow mergers and acquisitions, organic growth, diversification or a simple focus on one region. However, what sets the winners apart is how well they execute their strategies and how quickly they evolve when times change, a John S. Herold equity analyst said Thursday.