Launch

In reaction to requests from both the commercial and large speculative trading fund communities, Nymex is ready to launch — possibly as soon as Friday — large order execution (LOX) trading for natural gas, which attempts to match buyers and sellers willing to trade lots of between 250 and 5,000 contracts. Similar to the current open-outcry trading for smaller lots, LOX trading will be conducted in the pit and will be supported by a LOX bookkeeper who will announce quotes, match buyers with sellers and facilitate the order execution.

Speaking in New York at the launch of the its latest Long Term Energy Scenarios, Royal Dutch/Shell Chairman Philip Watts said future energy needs could be met in radically different ways. The executive outlined what he described as two “challenging and thought provoking ideas” as to how the energy market could develop.

Speaking in New York at the launch of the Group’s latest Long Term Energy Scenarios, Royal Dutch/Shell Chairman Philip Watts said future energy needs could be met in radically different ways. The executive outlined what he described as two “challenging and thought provoking ideas” as to how the energy market could develop.

Shell Gas & Power and El Paso Global LNG announced plans to build Mexico’s first liquefied natural gas (LNG) import terminal, a 1.3 Bcf/d facility in Altamira, Tamaulipas on Mexico’s northeastern coastline. Initial investment costs are estimated to be up to $300 million, and the regasification terminal is expected to start importing LNG in the first half of 2004.

Shell Gas & Power and El Paso Global LNG announced plans to build Mexico’s first LNG import terminal, a 1.3 Bcf/d facility in Altamira, Tamaulipas on Mexico’s northeastern coastline. Initial investment costs are estimated to be up to $300 million, and the regasification terminal is expected to start importation of LNG in the first half of 2004.

Altra E-Business Solutions, a subsidiary of Altra Energy Technologies, Inc., and Epicentric have designed and launched a new energy portal for ONEOK, Inc. The ‘My OEMT’ (for ONEOK Energy Marketing and Trading) portal will act as an e-business network, simultaneously delivering customized commerce services, business applications and targeted content to different user groups within the energy industry.

Speaking prior to the launch of numerous state legislative proposals last week designed to solve California’s power crisis, FERC Chairman Curt Hebert expressed disappointment with the speed and direction the state has taken so far in attempting to manage its predicament.

Speaking prior to the launch of numerous state legislativeproposals yesterday designed to solve California’s power crisis,FERC Chairman Curt Hebert expressed disappointment with the speedand direction the state has taken so far in attempting to manageits predicament.

CMS Energy Corp. announced it intends to implement a programthat will strengthen its balance sheet while maintaining itsforecasted earnings per share for 2001. The company also plans toretain the goal of a 10% per year growth rate thereafter.