A proposed first-ever direct shipment of liquefied natural gas (LNG) from Yemen, where Al-Qaeda threats have intensified, to Boston Harbor tentatively in February has prompted the U.S. Coast Guard there to review its tanker security.
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Direct Yemen-to-U.S. LNG Shipment Prompts Security Review
A first-ever proposed direct shipment of liquefied natural gas (LNG) from Yemen, where Al-Qaeda threats have intensified, to Boston Harbor tentatively in February has prompted the U.S. Coast Guard there to review its tanker security.
CFTC’s Chilton Says FERC Flexed Its EPAct Authority ‘Too Soon’
The dispute between FERC and the Commodity Futures Trading Commission (CFTC) intensified when FERC decided to take its newfound authority under the Energy Policy Act of 2005 (EPAct) out for a “little jurisdictional test drive” in the case accusing failed hedge fund Amaranth Advisors LLC of manipulation of natural gas prices, said CFTC Commissioner Bart Chilton earlier this week.
Report Suggests Weak Winter Demand, More LNG May Drop Gas to $6.50/MMBtu by Mid-2006
A supply-constrained natural gas market, which intensified competition between industrial and power generation consumers, has underpinned the current high gas price environment, but weaker winter demand, repairs to Gulf of Mexico infrastructure and growth in liquefied natural gas (LNG) imports may drop gas prices to $6.50/MMBtu prices by the middle of 2006, according to a report by the Gerdes Group, an energy consulting firm based in Houston.
Despite Wilma’s Apparent Easterly Path, Futures Remain Strong
Despite the fact that Hurricane Wilma intensified into the most powerful Atlantic hurricane on record overnight, natural gas futures traders took the news in stride Wednesday as it appeared the Gulf of Mexico’s oil and gas infrastructure would likely be spared.
Congress Accuses FERC of ‘Sitting Silently’ While Prices Manipulated
As the energy scandals multiplied and intensified last week, the Federal Energy Regulatory Commission — the agency that normally probes industry improprieties — had the tables abruptly turned on itself. Sen. Byron Dorgan (D-ND), who is leading the charge into Enron Corp. and other energy mischief on Capitol Hill, called for an independent investigation into the “behavior and contacts” of FERC to find out why it apparently looked the other way while Enron and possibly other energy suppliers engaged in wholesale manipulation of energy prices in California and other western states. He proposed that a special counsel be appointed to plumb the depths of energy suppliers’ improprieties in western markets, and the agency’s response.
Charges, Weather Cause Avista to Warn Investors
Warm weather in its key market areas intensified a turbulentyear for Avista Corp., the company said last week, and its fourthquarter earnings will reflect it.