Important

Regulatory delays may kill the long-delayed Mackenzie Gas Project (MGP), TransCanada Corp. CEO Hal Kvisle said Wednesday.

Regulatory delays may kill the long-delayed Mackenzie Gas Project (MGP), TransCanada Corp. CEO Hal Kvisle said Wednesday.

FERC Thursday upheld its final transparency rule (Order 704-A), which will provide regulators with additional information on natural gas prices and the size of the physical gas market, as well as enable them to assess the effectiveness of the index pricing regime.

With no shortage of prognosticators on commodities markets it’s important that traders and energy buyers do their own homework, former trader Tony Kolton told an audience of gas utility executives last Tuesday.

With no shortage of prognosticators on commodities markets it’s important that traders and energy buyers do their own homework, former trader Tony Kolton told an audience of gas utility executives Tuesday.

A much larger than expected storage injection report was deemed more important to the market than the potential loss of great amounts of Gulf of Mexico (GOM) production due to shut ins caused by Tropical Storm Gustav. The result was falling prices at nearly all points Thursday.

Both the cash and futures markets skyrocketed Tuesday due to the rapid transition of Gustav from tropical storm to hurricane and, more important, the fact that its most likely projected tracking was looking much more ominous for Gulf of Mexico (GOM) production infrastructure.

After breaking above $12 on three separate occasions in recent trading but failing to hold on for the all-important $12-plus close, July natural gas futures on Tuesday completed the task, which could open the door for further advances. The prompt-month contract closed Tuesday’s regular session at $12.221, up 25.2 cents from Monday’s close.

Summer weather — and the U.S. economy — may be the most important factors affecting the natural gas market over the coming six months, according to energy analysts.