Due to the increased natural gas demand in the country sparked by new gas-fired generation coming online, the United States is experiencing the largest wave of pipeline infrastructure expansion since the early 1960’s , according to a recent advisory from Industrial Information Resources Inc. (IIR). The consultant group said it expects 25,000 miles of gas transmission pipeline will be constructed by 2010 and an additional 13,000 miles by 2015, with estimates ranging up to 275,000 miles or more of distribution pipelines.
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New Supplies Cut CA Blackouts Short
With temperatures going to highs in the 70s and 80s Tuesday,California started into a second day of rolling blackouts at 9:20a.m. PST, but cut them short in the afternoon as two key generatorswent back online and new supplies arrived from the Western AreaPower Administration (WAPA). At press time the early evening peakdemand was still in doubt, and it was possible blackouts wouldstart again.
Mushing the Huskies to the Grand Banks
With prices still at record highs by Canadian standards,interest is heating up among producers in accelerating natural gasdevelopment in the East Coast offshore, including remote prospectson the Grand Banks of Newfoundland.
Mushing the Huskies To the Grand Banks
With prices still at record highs by Canadian standards,interest is heating up among producers in accelerating natural gasdevelopment in the East Coast offshore, including remote prospectson the Grand Banks of Newfoundland.
Cash, Futures Markets Hit All-Time Highs, Prompt Hearings
Natural gas cash and futures markets entered the stratosphere last week as cold weather, soaring demand and substandard storage levels led to new all-time high prices and prompted the U.S. Senate to schedule hearings on the situation.
Cold Weather, Storage Uncertainty Spark New Futures Highs
Buoyed by falling temperatures and spiking cash prices, theprompt natural gas futures contract did what has become almostsecond nature for the commodity this year as it rumbled to a newall-time high Tuesday. In fact, after a strong opening, the onlyquestion to be answered was which month (December or January) wouldset a new high watermark.
Futures Gap Higher as Bulls Target All-Time Highs
Boosted by soaring cash prices and cooler temps both outsidetraders’ windows and in the latest weather forecasts, natural gasfutures were higher Monday after gains registered in the Sundaynight Access trading session were validated by a gap higher open.The December contract was the largest beneficiary of the Sundayevening-Monday morning buying frenzy, finishing up 24.2 cents at$5.698. Meanwhile the back months lagged considerably, evidenced bythe 12-month strip, which only advanced 8.2 cents to $4.826.
Bargain Buyers Prevalent After Last Week’s Futures Sell-off
After watching the market tumble almost 85 cents from its highsin just a week and a half, bargain hunters were back at it againMonday, lifting natural gas prices back above the psychologicallyimportant $5.00 level. After checking down to $4.86 and etching itslowest mark since Sept. 1, the November contract rallied late inthe session to close 13.5 cents higher at $5.072.
Storm Concerns Run Futures to Fresh Highs Ahead of AGA
Mark Twain once said that while everybody talks about theweather, nobody does anything about it. And although that may haveheld true on a 19th century Mississippi Riverboat, it was not thecase in the natural trading pit Tuesday as traders bid up pricesthroughout the session on the news two new tropical systems hadformed in the Gulf of Mexico and Caribbean Sea.
Profit-Taking Deposits Futures Off All-Time Highs
Adding to gains achieved in the overnight Access tradingsession, natural gas futures were higher at the open Friday astraders kept close tabs on a tropical depression that as of presstime Friday posed a threat to production platforms in the Gulf ofMexico. However, after etching a new prompt month high for thethird day in a row Friday morning, the October contract was hitwith a long and steady sell-off throughout the afternoon as tradersheaded for the exits ahead of the weekend.