Due to forecasts of mild Southeast weather, Southern Natural Gas cited projections of high storage injection requirements during the weekend in announcing that an OFO Type 6 for long imbalances would be in effect on its system Saturday until further notice. Tiered imbalance penalties will be assessed to shippers exceeding allocated deliveries by 2% or more (those with long imbalances of less than 2% or 200 Dth/d will not be penalized).
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NGSA Looks to Economy for Gas Price Support
With gas storage caverns bursting, strong production despite drilling cutbacks, and mild weather expected, “a fragile economic recovery” is the only positive for gas prices this winter, the Natural Gas Supply Association (NGSA) said last Wednesday.
NGSA to Gas Bulls: It’s the Economy
With gas storage caverns bursting, strong production despite drilling cutbacks, and mild weather expected, “a fragile economic recovery” is the only positive for gas prices this winter, the Natural Gas Supply Association (NGSA) said Wednesday.
Transportation Notes
Citing “limited operational flexibility, high storage levels and continuing mild weather,” Tennessee said a systemwide OFO Action Alert will become effective Saturday for all Balancing Parties, “including LMS-PA, SA contracts acting as balancing parties, LMS-MA and LMS-PL balancing parties.” Affected customers will be required to maintain an actual daily flow rate not exceeding 2% above scheduled quantities or 500 Dth, whichever is greater, for overdeliveries into the system and undertakes from the system. See the bulletin board for details.
WSI Still Sees Relatively Calm Hurricane Season Ahead
Despite the appearance in the last 10 days of the 2009 Atlantic hurricane season’s first three named storms, Andover, MA-based WSI Corp. said it is sticking with its previous forecast of a total of 10 named storms, including five hurricanes, with two of them intense (Category Three or greater) forming by Nov. 30.
Analysts: Storage Fills Up First in Producing Region
Soft gas demand due to a weak economy and mild weather is driving the industry through what could be a belly-busting storage injection season with record inventories quite possible. Whatever pain is to come for producers will emanate first from full caverns in the producing region, analysts at Barclays Capital said last Tuesday.
Analysts: Producing Region Caverns Would Fill Up First
Soft gas demand due to a weak economy and mild weather is driving the industry through what could be a belly-busting storage injection season with record inventories quite possible. Whatever pain is to come for producers will emanate first from full caverns in the producing region, analysts at Barclays Capital said Tuesday.
It’s Getting Hot Enough to Raise Most Prices
Although the Northeast remains unusually mild, the market found enough cooling load in high temperatures due to reach the 90s and 100s across most of the the southern U.S. and Midcontinent, backed up by moderate warming trends in the Midwest, Rockies and Pacific Northwest, to record gains at most points Thursday. A continuing futures loss a day earlier appeared to have little impact on Thursday’s cash prices.
World Series, Quiet Futures Help Mute Cash Market Action
Taking its cue from the mild screen weakness on Tuesday, the cash market strength of the last two days came to an end across the country on Wednesday except for a few spots in the Midcontinent and the West. The word on the street was that some shops closed early as traders flowed to Omaha, NE, for the culmination of the College World Series.
Transportation Notes
Citing limited operational flexibility and continuing mild market-area weather, Tennessee said Friday an OFO Action Alert would become effective Sunday for all Balancing Parties (including LMS-PA, SA contracts acting as balancing parties, LMS-MA and LMS-PL balancing parties). The positive imbalance tolerance was set at 2% of scheduled quantities or 500 Dth, whichever is greater. In addition, Tennessee lifted Friday a force majeure declaration made Sept. 23, 2008 for three Grand Isle meters on its 524C 400, 500 and 700 lines offshore Louisiana. The force majeure remains in effect for three other meters on the 523A-100, 524C-400 and 524C-600 lines, the pipeline added. Tennessee also said Friday it had completed emergent repairs on two D Building compressor motors at Compressor Station 54 in Greenville, MS (see Daily GPI, April 13) and the station has resumed normal operations.