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Storage Data Adds Volatility, 26 Cents to June Futures

Looking like the readout on an EKG machine gone mad, natural gasfutures soared, dipped then rallied again yesterday as tradersdealt with a bevy of somewhat contradictory but certainly confusingpieces of fundamental news. With Wednesday’s 25.9-cent advance and$4.073 settle, the June contract climbed into the rarified air of$4.05-plus prices, which have been achieved only in seven othertrading sessions during the 10-year history of natural gas futures.

May 25, 2000

Millennium Has to Sweat it Out a Little Longer

It looks like Millennium Pipeline’s long wait for a FERC rulingis going to last a little longer. FERC’s Daniel M. Adamson,director of the Office of Energy Projects, turned down a request byMillennium sponsors to exclude from its Final Environmental ImpactStatement an assessment of a proposed route change in WestchesterCounty, NY. Millennium was seeking a speedy FEIS but now will haveto wait until the Commission reviews its route change.

May 11, 2000

Strong Futures, Storage Plays Push Cash Higher

The March swing market continued to roar in like a lionWednesday, and it appeared that many traders are betting it won’tturn into a lamb between now and the end of the month.

March 2, 2000

Bulls Still Like Chances Despite Bearish Weather Forecasts

Natural gas futures chopped lower yesterday in a tight, mostlyfeatureless session as traders continued to factor in the nowimminent threat of warming weather for much of the nation. Wideningits discount to outer months, the March contract was the hardesthit by the sell-off, tumbling 2.9 cents to finish at $2.541.Estimated volume was very modest, with just 44,670 contractschanging hands.

February 15, 2000

GE Turbines Flying Like Hotcakes

GE Power Systems has not been able to keep its gas and steamturbines on the shelves, as Reliant Energy, Duke Energy NorthAmerica and NRG Energy all recently signed long-term multi-turbineagreements.

February 14, 2000

Enron-El Paso Deal Gets Green Light at FERC

Producer/marketer shippers on El Paso Natural Gas and Californiaregulators aren’t going to like FERC’s ruling on Enron NorthernAmerica Corp.’s 1.2 Bcf/d contract deal with the pipeline — itaccepted the mega-deal and rejected most of their protests.

January 24, 2000

FERC OKs Enron-El Paso Capacity Lease

Producer/marketer shippers on El Paso Natural Gas and Californiaregulators aren’t going to like FERC’s ruling on Enron NorthernAmerica Corp.’s 1.2 Bcf/d contract arrangement with the pipeline— it accepted the mega-deal and rejected most of their protests.

January 24, 2000

Duke Finds More Trouble than Expected in CA

Like many other industrial operators before it, Duke EnergyServices has found that operating along California’s famouscoastline can be a rocky proposition. Duke has been forced to pullback and reconfigure plans for its Morro Bay power plant along thecentral coast to accommodate local city concerns and is makingpromises to increase the city’s coffers by up to 30% through theplant remodel.

January 17, 2000

Duke Finds More Trouble than Expected in CA

Like many other industrial operators before it, Duke EnergyServices has found that operating along California’s famouscoastline can be a rocky proposition. Duke has been forced to pullback and reconfigured plans for its Morro Bay power plant along thecentral coast to accommodate local city concerns and is makingpromises to increase the city’s coffers by up to 30% through theplant remodel.

January 14, 2000

El Paso Pulls Off FTC-Required Sellathon

Pipes were selling like hotcakes last week as El Paso EnergyCorp. divested its interest in three major pipelines to meetFederal Trade Commission (FTC) conditions set just before El Pasoand Sonat finalized their merger last year. East Tennessee Pipelinewas spun off to Duke Energy Gas Transmission, the Sea RobinPipeline went to CMS Energy and El Paso’s share of the Destin Pipeline was sold toan undisclosed buyer. Combined, all three assets were sold for $620 million.Closings on the sales are expected to occur within the next fewmonths, pending FTC consent, El Paso said.

January 10, 2000