Have

Even having achieved hurricane status, Irene proved to have nomore “hype” for gas prices left in it. Cash quotes Thursday fell adime or more at most eastern points and a little bit less in theWest. Gulf Coast numbers tended to drop a nickel or so from theirearly morning highs, one trader said. That resulted in the anomalyof him getting identical $2.67 pricing for an early sale inTennessee Zone 0 (South Texas) and a late sale at Transco Station65 (South Louisiana).

SCANA Corp. and Enermetrix.com have jointly announced SCANAOnline Energy, a gas and electricity auction marketplace designedfor use by business and industrial customers.

Williams’ Northwest Pipeline and BC Hydro have announced a jointventure to study the feasibility of building an 85-mileinternational pipeline extension from Sumas, WA, to VancouverIsland, BC, to serve two proposed new cogeneration plants on theisland. It would be a three-year, $120 million project to transportabout 100 MMcf/d for the cogeneration plants and additionalindustrial loads on both sides of the international border.

Williams’ Northwest Pipeline and BC Hydro have announced a jointventure to study the feasibility of building an 85-mileinternational pipeline extension from Sumas, WA, to VancouverIsland, BC, to serve two proposed new cogeneration plants on theisland. It would be a three-year, $120 million project to transportabout 100 MMcf/d for the cogeneration plants and additionalindustrial loads on both sides of the international border.

Coastal Oil & Gas and Santa Fe Snyder have exchangedproperties in Utah, Wyoming, Texas and the Gulf of Mexico “toconsolidate assets into core areas for each company. Coastalreceived interests in six GOM blocks, plus the Jeffress Field inSouth Texas and 97,000 acres in Uintah and Duchense Counties inUtah. Coastal also received a cash payment of $18 million. Santa FeSnyder received interests in 22 Wyoming fields in the Green RiverBasin and three units in Gaines County, TX, in the Permian Basin.

FERC commissioners last week finalized revisions to rules foroff-the-record communications between commissioners and key staffand persons outside the Commission. Chairman James Hoecker said thenew rule (Order No. 607) provides a balance that “will supply theclarity and precision we need. They should facilitate better accessto information while ensuring the integrity of our processes.”

Gas buyers could have been forgiven Monday for modifying apopular movie’s catchphrase and screaming, “Show me the weather!” Autility buyer reporting “beautiful” conditions outdoors in theNortheast said it seemed odd that prices could continue to rise inthe face of moderate weather in most major market areas outside theSouth. Cash quotes ranged from flat to barely higher at Northeastcitygates to as much as 15 cents up at the PG&E citygate. Mostgains tended to be on either side of a nickel.

Coral Energy affiliates have signed a deal to supply gas to andpurchase the power from the proposed 830 MW Tenaska GatewayGenerating Station in Rusk County, TX. Construction of the plant isscheduled to begin this summer and be completed in spring 2001. Aspart of the deal, Coral also has gained an equity position inTenaska Gateway Partners, which will build, own and operate thefacility. It is Omaha-based Tenasaka’s second power project in thelast two years. “Joining with Tenaska in the Gateway GeneratingStation supports Coral’s strategy to build a power generationplatform that complements our marketing and trading activities,”said Coral CEO Charlie Crisp. Terms of the deal were not disclosed.

Although no panic buttons have been pushed yet, the Kansas City Board of Trade (KCBT) is getting increasingly worried about the recent lack of activity on its gas futures contract. There has been no estimated volume since July 29, and as a result, open interest has been stuck at 669 positions.