El Paso said Tuesday its linepack “has stabilized at a manageable level through a combination of takes that more closely match receipts and injections into storage. The threat of Strained Operating Conditions (SOC) has been significantly reduced.” On Sunday it had reported that in a combination of receipt quantities in excess of nominations and takes that were significantly below nominations, system linepack was “rising at rates that are not sustainable.” Since Friday linepack had increased nearly 500 MMcf/d and the Washington Ranch Storage facility was at maximum injection capacity, El Paso said Sunday.
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FERC OMOI Staff Reports on Five Major Concerns about Gas Market
The natural gas market is ill but the illness is “manageable,” FERC’s Office of Market Oversight and Investigations (OMOI) said last week in its first analytical report to the full Commission. The OMOI cited five major conditions currently draining the health of the industry, including deteriorating financial conditions of market participants, credit exposure, shaken confidence in price discovery methods, the need for infrastructure investment and the continuing potential for market manipulation.
February 3, 2003
EIA Raises Winter Gas Price Forecast to $3.54/Mcf
Bolstered by the prospects of strengthening demand and more manageable storage stocks, the Energy Information Administration’s (EIA) latest forecast calls for spot gas prices to average around $3.54/Mcf going into the winter season, or about $1.12/Mcf above last year’s level. This is 20 cents above the price projection that the agency made in October for winter gas.
November 11, 2002
EIA Raises Winter Gas Price Forecast to $3.54/Mcf
Bolstered by the prospects of strengthening demand and more manageable storage stocks, the Energy Information Administration’s (EIA) latest forecast calls for spot gas prices to average around $3.54/Mcf going into the winter season, or about $1.12/Mcf above last year’s level. This is 20 cents above the price projection that the agency made in October for winter gas.
November 11, 2002
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