Holds

BC Gas is holding an open season to test market interest in its proposed new Inland Pacific Connector Pipeline, a 153-mile pipeline extending from the Southern Crossing pipeline to the regional marketing hub in Huntingdon, BC (see Daily GPI, April 4).

BC Gas is holding an open season to test market interest in its proposed new Inland Pacific Connector Pipeline, a 153-mile pipeline extending from the Southern Crossing pipeline to the regional marketing hub in Huntingdon, BC (see Daily GPI, April 4).

In an effort to help meet the growing demands for natural gas in British Columbia and in the U.S. Pacific Northwest, BC Gas Utility Ltd. said it is actively pursuing a plan to build the Inland Pacific Connector, an expansion of the company’s Southern Crossing Pipeline. Southern Crossing began service in late November 2000 (see Daily GPI, Dec. 5, 2000).

After funneling lower for most of the week, natural gas futures finished on a positive note Friday, amid a late flurry of trading and speculative short-covering. Just when it appeared that futures would head listlessly into the weekend with its fourth straight down day, the market erupted higher in the last 85 minutes of trading, propelling the May contract to a 2.7-cent gain at $5.128.

In an effort to help meet the growing demands for natural gas in British Columbia and in the U.S. Pacific Northwest, BC Gas Utility Ltd. said it is actively pursuing a plan to build the Inland Pacific Connector, an expansion of the company’s Southern Crossing Pipeline. Southern Crossing began service in late November 2000 (see NGI, Dec. 11, 2000).

In a continuation of the selling that began around noonWednesday, natural gas futures spiraled lower yesterday as pricesbroke beneath several key technical levels. For the May contract,that meant a sizeable loss on its first day in the limelight as thenewly crowned prompt month sunk 17.9 cents to close at $5.274.Equally impressive was the pull back seen in the out-months, whichconspired to send the summer strip down 17.8 cents to $5.355.

Pressured by weakness in early morning over-the-counter trading,natural gas futures gapped lower on the open for the second sessionin a row Monday as traders were once again presented with a priceoutlook devoid of bullish fundamental news. However, unlike theprice action last Friday in which prices sifted lower throughoutthe day, yesterday’s market was constructive as prices workedhigher after finding support at the key $5.00 level. The Aprilcontract finished strongly, up 8.7 cents to close at $5.159.

Williams kicked off its open season last week for shippersinterested in annual firm transportation service produced by theTransco’s Trenton-Woodbury Loop expansion project. the project isexpected to be in service as early as fourth quarter 2002. The openseason will run until 5 p.m. (CST) on Feb. 28.

Williams kicked off its open season yesterday for shippersinterested in annual firm transportation service produced by theTransco’s Trenton-Woodbury Loop expansion project. the project isexpected to be in service as early as fourth quarter 2002. The openseason will run until 5 p.m. (CST) on Feb. 28.