Managing

PG&E Corp.’s priorities this year center on managing costs as part of its multi-billion infusion of investment in utility infrastructure at Pacific Gas and Electric Co. Major electric and natural gas supply projects are still in early and less certain stages of development, according to senior PG&E officials who spoke to financial analysts Friday during a conference call in which the company announced increased earnings for the fourth quarter and full year in 2007, compared with similar periods in 2006.

Canadian natural gas exports are holding firm — and even managing to grow — despite persistent, widespread forecasts of decline for the northern supply mainstay on the “continental” natural gas market.

Canadian natural gas exports are holding firm — and even managing to grow — despite persistent, widespread forecasts of decline for the northern supply mainstay on the “continental” natural gas market.

Calpine said it hired Larry B. Leverett as its new senior vice president of gas trading, responsible for managing natural gas positions and risk management strategies for Calpine’s 25,100 MW gas-fired power portfolio. Leverett previously was senior vice president of wholesale markets for TXU Portfolio Management LP. He also served in senior management positions with Avista Energy and El Paso Energy. Most recently, he was a senior consultant for PNM Resources, leading commercial and operational management for its Southwest gas and power businesses. “Calpine is one of North America’s largest gas-fired power producers, which makes us one of the country’s largest natural gas end-users and traders. Larry’s proven track record for leading successful gas and power trading and risk management initiatives will enhance our commercial operations — creating value for both our customers and Calpine — and help position the new Calpine for profitable growth,” said Thomas N. May, Calpine’s executive vice president of commercial operations.

Calpine said it hired Larry B. Leverett as its new senior vice president of gas trading, responsible for managing natural gas positions and risk management strategies for Calpine’s 25,100 MW gas-fired power portfolio. Leverett previously was senior vice president of wholesale markets for TXU Portfolio Management LP. He also served in senior management positions with Avista Energy and El Paso Energy. Most recently, he was a senior consultant for PNM Resources, leading commercial and operational management for its Southwest gas and power businesses. “Calpine is one of North America’s largest gas-fired power producers, which makes us one of the country’s largest natural gas end-users and traders. Larry’s proven track record for leading successful gas and power trading and risk management initiatives will enhance our commercial operations — creating value for both our customers and Calpine — and help position the new Calpine for profitable growth,” said Thomas N. May, Calpine’s executive vice president of commercial operations.

Testimony by the managing price editor for Natural Gas Intelligence (NGI) Friday left open to question the prosecutor’s claim that two former natural gas traders succeeded in manipulating natural gas price indexes in 2000 and 2001 by submitting false information to publishers.

Analysts say fear of gas shortages this winter is misguided, but there are some concerns about managing natural gas deliveries in light of the extensive damage caused by Hurricane Katrina on El Paso Corp.’s eastern pipelines, several Gulf Coast gas processing plants and production facilities.

Don’t count on a multitude of new liquefied natural gas (LNG) import terminals and a flood of LNG collapsing domestic gas prices, said James Trifon, Wood Mackenzie’s managing consultant for North America LNG. Most of the import terminals planned won’t make it, and the underlying tight domestic supply situation will continue to support the market, he said in a preview of a presentation to be given at GasMart on March 18 in New Orleans (see http://www.gasmart.com/).

Don’t count on a multitude of new liquefied natural gas (LNG) import terminals and a flood of LNG collapsing domestic gas prices, said James Trifon, Wood Mackenzie’s managing consultant for North America LNG. Most of the import terminals planned won’t make it, and the underlying tight domestic supply situation will continue to support the market, he said in a preview of a presentation to be given at GasMart on March 18 in New Orleans (see http://www.gasmart.com/).