FERCissued three delegated orders Wednesday that will allowIroquois Gas Transmission System LP to amend existing negotiated rate agreements with two customers for a few natural gas delivery days in December. Among 15 delegated orders issued, the Federal Energy Regulatory Commission waived the 30-day notice requirement for revised tariff records with Trafigura AG (Docket No. RP14-291) and J.P. Morgan Ventures Energy Corp. (Nos. RP14-292 and RP14-293). According to FERC, a Trafigura contract set revised rates for service under Iroquois’ interruptible rate schedule HUB, while a separate contract did the same with J.P. Morgan. The revised tariff records covered Dec. 13-16 for Trafigura, and Dec. 14-16 for J.P. Morgan. The orders were issued by FERC’s Nils Nichols, director of Division of Pipeline Regulation.
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Market Awaits Potential Record Storage Draw; Futures Drop 4 Cents
Physical prices for natural gas to be delivered Thursday inched higher at most points across the country on Wednesday as the market anticipated two pending events — weather and storage — that could have lasting impacts.
U.S. Becomes Global Gas Trading Powerhouse by 2035, Says BP
The United States will be a global natural gas trading powerhouse by 2035 by which time the commodity’s market share will match that of oil and coal, BP plc’s top economist said Wednesday.
East Led Nationwide Advance Tuesday; Futures Gain Again
A vast majority of physical natural gas price averages across the country posted gains Tuesday as many regions, including much of the East, were bracing for another round of below-normal temperatures while the West Coast sweltered under warmer-than-normal conditions with lower-than-normal hydro power supplies.
People
The Independent Petroleum Association of Americahas elected David R. Hill to serve as the organization’s next regional director in Ohio. Hill serves as vice president of the Ohio Oil and Gas Association and owns the oilfield services company David R. Hill Inc., which is located in the state. Hill will replace Jerry James, president of Ohio-based Artex Oil Co.
Industry Brief
Last week’s polar vortex led to record sendouts for Piedmont Natural Gas, which provides natural gas to one million residential, commercial, industrial and power generation utility customers in North Carolina, South Carolina and Tennessee. Piedmont’s 2.41 million Dth sendout on Jan. 7 exceeded by 30% the company’s previous winter season single-day record sendout of 1.86 million Dth set on Dec. 13, 2010. Cold that clamped down on much of the country last Tuesday also prompted constraints on pipelines into New England and throughput at a central Alabama gas utility was running at 10-year record levels (see Daily GPI, Jan. 7). Piedmont said that six of its top eight single-day sendouts ever have occurred since Nov. 13, 2013.
People
The Public Utilities Commission of Ohio said Chairman Todd A. Snitchler will not seek reappointment. Snitchler, who was appointed by Gov.John Kasich to lead the 320-person agency in 2011, said it was time to move on with his career. His term ends on April 10.
More Cold On The Way; February Seen 16 Cents Higher
February natural gas is expected to open 16 cents higher Monday morning at $4.21as traders digest new weather reports that are calling for a return to colder-than-normal conditions in the near and intermediate terms. Overnight oil markets sagged.
Another Fifth Circuit Panel Rejects BP Arguments, Sides with Macondo Plaintiffs
Over BP plc’s objections, a federal appeals court on Friday upheld the multibillion-dollar settlement with Macondo spill-impacted plaintiffs, which could force the oil major to pay billions more in claims.
Rice Energy Launches IPO, Offers 40 Million Shares
Rice Energy Inc. launched its initial public offering (IPO) on Monday with 40 million common shares priced at $19-21 each.
