Pacific Gas & Electric did not extend a high-inventory OFO beyond Friday. However, the California market continued to be impacted by a similar constraint as Southern California Gas declared an OFO for Saturday. The utility would automatically reduce volumes for any shipper exceeding a 10% tolerance on deliveries into the system, a SoCalGas spokeswoman said.
However
Articles from However
Analyst: LNG Imports to Only Offset Declining U.S. Supply
The conventional view is that liquefied natural gas (LNG) imports in the coming years will set the price for natural gas, however, even in the most optimistic scenario, LNG imports of 0.5 Bcf/d per year will at best only offset the decline in North American supply, according to an analysis by Southwest Securities’ John Gerdes.
Analyst: LNG Imports to Only Offset Declining U.S. Supply
The conventional view is that liquefied natural gas (LNG) imports in the coming years will set the price for natural gas, however, even in the most optimistic scenario, LNG imports of 0.5 Bcf/d per year will at best only offset the decline in North American supply, according to an analysis by Southwest Securities’ John Gerdes.
Retail Commercial, Industrial Market Alive, But Policymakers Could Kill It
Retail energy markets for commercial and industrial customers are alive, however, government policymakers on the state and national levels could severely retard them if they continue to blame market-based solutions for the western wholesale power market meltdown two years ago, two industry speakers told a GasMart/Power 2003 audience in New Orleans Tuesday. From both a utility and merchant energy service provider’s point of view, the key is getting beyond current negative perceptions among regulated and elected officials, particularly in the West.
Retail Commercial, Industrial Market Alive, But Policymakers Could Kill It
Retail energy markets for commercial and industrial customers are alive, however, government policymakers on the state and national levels could severely retard them if they continue to blame market-based solutions for the western wholesale power market meltdown two years ago, two industry speakers told a GasMart/Power 2003 audience in New Orleans Tuesday. From both a utility and merchant energy service provider’s point of view, the key is getting beyond current negative perceptions among regulated and elected officials, particularly in the West.
Dynegy Secures Financing Package for $1.66B
Dynegy Inc.’s CEO said Wednesday that the company had reached a “defining point” in its rebuilding process, after securing a new $1.66 billion bank credit financing package that won’t come due until 2005. The new facility replaces existing loans held by subsidiary Dynegy Holding (DHI), which would have matured over the next two months.
Resignation of Anadarko Executive Blindsides Industry Analysts
One day after Anadarko Petroleum Corp. President and CEO John Seitz resigned unexpectedly from his positions, analysts were scratching their heads looking for an explanation. The news came as a shock because it coincided with an energetic and optimistic investor webcast earlier in the month, which was met with positive reactions from some notable analysts.
Transportation Notes
Northern Natural Gas withdrew the Critical Day notice that had been posted for Thursday. However, a System Overrun Limitation for all market zones remained in effect through at least Thursday.
Devon Scores Record Production, Reserve Replacement with Acquisitions
With its acquisitions of Mitchell Energy & Development Corp. and Anderson Exploration on the books last year, Devon Energy Corp. scored record oil and natural gas production and revenues in 2002, and also could boast that it pumped up its oil, gas and natural gas liquids (NGLs) reserve replacements by 278% at a low cost of $7.18/boe. This year, said management, will be no different.
Williams Finalizes Settlement Agreement with California
Williams last Tuesday said that it has completed its settlement with California resolving most of the company’s outstanding litigation and civil claims related to natural gas and power markets with the states of California, Oregon and Washington.