Market

Citing “significant” market area demand, Florida GasTransmission issued an Overage Alert Day notice for Thursday in thearea east of Station 12 (Santa Rosa County in the FloridaPanhandle). The notice carries a 3% tolerance for daily negativeimbalances.

Northern Natural Gas extended a System Underrun Limitation orderfor all market-area zones through Monday. The SUL was initiatedTuesday to guard against excessive linepack (see Daily GPI, June 30).

Northern Natural Gas had a System Underrun Limitation in effectTuesday for all market-area zones to guard against excessivelinepack.

The futures market continued higher Wednesday in another quiettrading session where local buying was too much for scale-up tradeselling. But despite its 2.6 cent advance to finish at $2.264, theJuly contract fell short of filling in the chart gap up to Friday’s$2.283 low. Estimated volume was a relatively light 56,980.

Northern Natural Gas declared a System Underrun Limitation forSunday, June 20, in market-area Zones ABC, D and E/F to guardagainst excessive supplies.

ARCADIS Geraghty & Miller, an environmental and engineeringservices consulting firm, and the Gas Research Institute (GRI) haveformed an alliance to commercialize natural gas co-firing andrelated technologies that significantly enhance steam boilerperformance.

Rigel Energy Corp. of Calgary, a medium-sized Canadian producer,is opening a data room June 14 to solicit proposals from partiesinterested in “making an investment in the equity of thecorporation, merging with the corporation, acquiring certain ofRigel’s assets, or making an offer for 100% of the corporation,”according to Don Gardner, Rigel’s chief financial officer. Aspecial committee has been appointed to conduct the process which”will be broad, open and transparent,” Gardner told the company’sannual meeting June 2.

Rigel Energy Corp. of Calgary, a medium-sized Canadian producer,is opening a data room June 14 to solicit proposals from partiesinterested in “making an investment in the equity of thecorporation, merging with the corporation, acquiring certain ofRigel’s assets, or making an offer for 100% of the Corporation,”according to Don Gardner, Rigel’s chief financial officer. Aspecial committee has been appointed to conduct the process which”will be broad, open and transparent,” Gardner told the company’sannual meeting.

Union Gas announced the availability of 2 Bcf of peak storage atthe Dawn Market Hub. The storage permits summer 1999 injection and1999-2000 winter withdrawal. The storage capacity will be awardedbased on a bidding process. All bids are due by 1 p.m. EST onFriday, May 21. The high bidders will be awarded the capacity by 3p.m. EST that same day. The storage hub has six pipelineinterconnects and easy access to 15 pipeline and distributioncompanies, Union Gas said. The complex has a working capacity of130 Bcf and can deliver 2 Bcf/d for customers.