Minimized

While weak shoulder month gas demand minimized the market impact of Hurricane Lili and Tropical Storm Isidore, the two storms did cut substantially volumes of gas and oil production in the Gulf of Mexico and on Friday continued to have an impact, with 670 MMcf/d of gas and 105,000 b/d of crude oil production remaining curtailed, according to the Minerals Management Service.

While weak shoulder month gas demand minimized the market impact of Hurricane Lili and Tropical Storm Isidore, the two storms did cut substantial volumes of gas and oil production in the Gulf of Mexico, and on Friday continued to have an impact, with 670 MMcf/d of gas and 105,000 b/d of crude oil production remaining curtailed, according to the Minerals Management Service (MMS).

FERC had a very busy day yesterday on the natural gas side.First, it upheld its July order in which it awarded a certificateto the Midwest-to-East Coast Independence Pipeline, fending offcontinuing questions about the binding nature of the project’sprecedent agreements and its market need. Federal regulators alsogave the go-ahead for Phase II of ANR Pipeline’s Wisconsinexpansion, a Reliant Energy Gas Transmission expansion in Arkansas,and awarded a preliminary determination to Transcontinental GasPipe Line for its proposed Sundance expansion in the Southeast.