Hurts

Without new liquefied natural gas (LNG) facilities and Arctic gas pipelines from Alaska and the Mackenzie Delta, North American gas supply won’t grow more than 25 Tcf, and without more access to gas supplies from the Rocky Mountains, there may even be a decline, Don Santa, president of the Interstate Natural Gas Association of America (INGAA), said this week.

By last Friday, Sempra Energy’s stock price was clawing its way back upward after dropping nearly 10% earlier in the week on the news that a California state Superior Court judge had rejected the company’s multiple requests for a summary judgment, declaring that a class action lawsuit against Sempra was ready for a jury trial some time next year.

By last Friday, Sempra Energy’s stock price was clawing its way back upward after dropping nearly 10% earlier in the week on the news that a California state Superior Court judge had rejected the company’s multiple requests for a summary judgment, declaring that a class action lawsuit against Sempra was ready for a jury trial some time next year.

Unseasonably warm weather reduced energy demand in the Northeast, lowered prices and cut into KeySpan’s fourth quarter earnings. The company reported slightly lower earnings, excluding special items, of $99 million, or 71 cents per share, down from $100.9 million, or 75 cents per share, a year earlier. Wall Street analysts had expected earnings of 73-78 cents per share, with a consensus estimate of 75 cents. Including special items, earnings fell to $34.4 million, or 25 cents per share, from $58.9 million, or 44 cents per share.

Unseasonably warm weather reduced energy demand in the Northeast, lowered prices and cut into KeySpan’s fourth quarter earnings. The company reported slightly lower earnings, excluding special items, of $99 million, or 71 cents per share, down from $100.9 million, or 75 cents per share, a year earlier. Wall Street analysts had expected earnings of 73-78 cents per share, with a consensus estimate of 75 cents. Including special items, earnings fell to $34.4 million, or 25 cents per share, from $58.9 million, or 44 cents per share.