June

The Energy Information Administration (EIA), in its Short-Term Energy Outlook for June, again raised its projection for the average spot price of natural gas this year — by 7% to an average of $6.20/Mcf from the $5.80/Mcf that it had projected last month.

The Idaho Public Utilities Commission announced last Friday it will accept comments through June 25 on Spokane, WA-based Avista Utilities’ long-range plan for meeting the needs of its 60,000 customers in northern Idaho through a portfolio of short- and long-term contracts, with firm and interruptible transportation for the supplies.

Caledonia Energy Partners is holding an open season through June 25 for a proposed 11 Bcf gas storage project at a depleted reservoir in Monroe and Lowndes counties, MS. The proposed storage facility, which is expected to be in service in spring of 2006, is expected to have interconnections with Tennessee Gas’ 500 Leg, Texas Eastern Transmission and Southern Natural.

Caledonia Energy Partners is holding an open season through June 25 for a proposed 11 Bcf gas storage project at a depleted reservoir in Monroe and Lowndes counties, MS. The proposed storage facility, which is expected to be in service in spring of 2006, is expected to have interconnections with Tennessee Gas’ 500 Leg, Texas Eastern Transmission and Southern Natural.

After the 37-cent jump in June natural gas futures prices last Monday to $6.231/MMBtu, Huntsman Chemical, the world’s largest privately held chemical company, renewed its call for “reforms” to the rules that govern gas trading on the New York Mercantile Exchange.

Following the announcement of a 72 Bcf storage injection, the June natural gas futures contract jumped 9 cents from $6.27 to trade at $6.36 as of 10:39 a.m, revisiting the high set on Tuesday. However, the contract then worked lower for the entire afternoon, trading within the $6.19-6.29 range, before settling at $6.219, down 9.1 cents on the day.

After the 37-cent jump in June natural gas futures prices on Monday to $6.231/MMBtu and the continuing increase on Tuesday to $6.269, Huntsman Chemical, the world’s largest privately held chemical company, renewed its call for an investigation of trading activity on the New York Mercantile Exchange and possible “reforms” to the rules that govern gas trading.

A June 2000 internal presentation by Royal Dutch/Shell Group planners apparently warned about overly optimistic proven and probable oil and gas reserves, according to a report in Thursday’s Wall Street Journal.

A June 2000 internal presentation by Royal Dutch/Shell Group planners apparently warned about overly optimistic proven and probable oil and gas reserves, according to a report in Thursday’s Wall Street Journal.