Least

Pacific Gas & Electric continued a Stage 2 high-inventory OFO, initiated Wednesday, through at least Thursday. Penalties and imbalance tolerance remain at $1/Dth and 3% respectively. The utility continued to project linepack above its maximum target levels through the weekend.

A sustained increase of at least 50% — and possibly more — is on the horizon for exports of natural gas from British Columbia to the Pacific Northwest region of the United States, Westcoast Energy told Canada’s National Energy Board (NEB) in an application with a 10%, C$270-million (US$170-million) expansion of its B.C. pipeline system’s capacity by 200 MMcf/d to 2.1 Bcf/d.

A sustained increase of at least 50% — and possibly more — is on the horizon for exports of natural gas from British Columbia to the Pacific Northwest region of the United States, Westcoast Energy told Canada’s National Energy Board in support of an application for an initial 10%, C$270-million (US$170-million) expansion of its B.C. pipeline system’s capacity by 200 MMcf/d to 2.1 Bcf/d.

BP CEO Sir John Browne said late last week that the company expects to spend at least $15 billion during the next 10 years on deepwater natural gas and oil exploration, development and production activities in the Gulf of Mexico. Speaking at the Houston Forum, Browne said the bulk of expenditures will be spent drilling wells and developing fields that have already been discovered.

BP CEO Lord Browne said Thursday that the company expects to spend at least $15 billion during the next ten years on deepwater natural gas and oil exploration, development and production activities in the Gulf of Mexico. Speaking at the Houston Forum, Browne said the bulk of expenditures will be spent drilling wells and developing fields that have already been discovered.

Significant balance sheet challenges kept at least one Wall Street rating agency restrained in its outlook following Bellevue, WA-based Puget Energy’s report of record second quarter earnings last Thursday. Puget’s second quarter results showed $29.4 million, or 34 cents/common share, in net income, compared to second quarter results last year of $17.4 million, or 20 cents/share.

Florida Gas Transmission extended an Overage Alert Day notice for its market area, which began Monday, at least through Tuesday and tightened the tolerance for negative daily imbalances from 10% to 5%.

Florida Gas Transmission extended an Overage Alert Day notice for its market area, which began Monday, at least through Tuesday and tightened the tolerance for negative daily imbalances from 10% to 5%.

A plan to build at least one liquefied natural gas (LNG) terminal on the Texas coast, which could deliver 650 MMcf/d, took another step forward Wednesday. Cheniere Energy Inc., which owns the options for three LNG sites along the Texas coast, said it is finalizing environmental studies and will submit an application to FERC this summer for a Freeport plant that could begin operations by 2006. Cheniere also sold a 20% option on the facility to Contango Oil & Gas Co. for $3 million.