Mammoth

Canada’s northern pipeline sponsors did not answer the big question raised by the project’s recent mammoth cost increase, but they earlier disclosed where to look for clues. Can the Mackenzie Gas Project (MGP) be built for its new price tag of C$16.2 billion (US$13.7 billion)?

Canada’s northern pipeline sponsors did not answer the big question raised by the project’s recent mammoth cost increase, but they earlier disclosed where to look for clues. Can the Mackenzie Gas Project (MGP) be built for its new price tag of C$16.2 billion (US$13.7 billion)?

Following a topsy-turvy week of trade that featured a deep freeze in the Midwest and East and a mammoth 259 Bcf storage withdrawal report for the week ended Feb. 9, March natural gas futures on Friday explored higher price levels. The prompt month put in a high of $7.620 before settling at $7.503, up 21.1 cents on the day but 32.4 cents lower than the previous Friday’s close.

El Paso Corp. said Tuesday it is extending the binding open season for its mammoth Continental Connector pipeline project due to requests from several prospective shippers who are seeking additional time to further evaluate and fully respond to the offering. The open season, which began May 1, will be extended until June 8.

FERC on Monday granted El Paso Corp.’s request to begin the pre-filing process for its mammoth Continental Connector pipeline project, which would connect El Paso’s Rocky Mountain region pipelines, including Colorado Interstate, Wyoming Interstate and Cheyenne Plains, with its three lines in the eastern half of the country, ANR Pipeline, Tennessee Gas Pipeline and Southern Natural Gas.

The complaints filed against El Paso Natural Gas have reachedsuch a mammoth proportion that the staff for the Federal EnergyRegulatory Commission may be forced to set aside a shelf or twojust for these cases.

Fresh life is being breathed into a decades-old Canadian visionof a mammoth production and pipeline project to tap Arctic naturalgas reserves. For the first time in nearly a decade, theproduction community, with help from a U.S. producer, is revivingexploration on its formerly most dramatic frontier. A Canadiangovernment auction of drilling rights drew takers for 2,934 squarekilometers (1,132 square miles) of the Mackenzie Delta-Beaufort Searegion. Initial work is expected to start within a year. TheNorthwest Territories awarded the rights as four nine-year resourcehunting licences, in exchange for C$183 million (US$122 million) inwork commitments by four producers with a penchant for chasing biggas targets.

Fresh life is being breathed into a decades-old Canadian visionof a mammoth production and pipeline project to tap Arctic naturalgas reserves. For the first time in nearly a decade, theproduction community, with help from a U.S. producer, is revivingexploration on its formerly most dramatic frontier. A Canadiangovernment auction of drilling rights drew takers for 2,934 squarekilometres (1,132 square miles) of the Mackenzie Delta-Beaufort Searegion. Initial work is expected to start within a year. TheNorthwest Territories awarded the rights as four nine-year resourcehunting licences, in exchange for C$183 million (US$122 million) inwork commitments by four producers with a penchant for chasing biggas targets.

Excitement and anticipation, rather than anxiety, prevailed onthe Canadian end of the mammoth merger announced earlier this monthbetween British Petroleum (60%) and Amoco Corp. (40%), thanks tonatural gas.