Mounts

While the excitement mounts regarding the fate of a number of proposed U.S. liquefied natural gas (LNG) export projects, the CFOs of three companies with projects on the line said Wednesday that a good market exists among free trade agreement (FTA) nations, some right in North America’s backyard.

As pressure mounts from prospects for new gas supplies in British Columbia and the Rockies, NorthernStar Natural Gas moved aggressively last week to protect its proposed Bradwood Landing liquefied natural gas (LNG) project along the Columbia River in Oregon, asking FERC to reject state officials’ call for reissuing a draft environmental impact report (EIR).

As pressure mounts from prospects for new gas supplies in British Columbia and the Rockies, NorthernStar Natural Gas moved aggressively late Tuesday to protect its proposed Bradwood Landing liquefied natural gas (LNG) project along the Columbia River in Oregon, asking FERC to reject state officials’ call for reissuing a draft environmental impact report (EIR).

Natural gas futures completed a topsy-turvy trading week on a down note Friday, pressured lower by light pre-holiday profit-taking. The January contract dropped 14 cents to close at $6.982.

As speculation mounts over whether the Federal Energy Regulatory Commission is about to expand its California market mitigation plan to 24 hours a day, seven days a week across the West this summer, Sen. Dianne Feinstein (D-CA) yesterday questioned whether such a move would eliminate what she asserted was a gaming of the system by generators to boost power prices.

Occidental Petroleum, the unpredictable mid-size producer, holdssome wild cards in California’s unfolding natural gasrestructuring, and it’s so far playing them close to the vest.Independents in the south San Joaquin Valley oil patch think Oxy is”up to something,” perhaps a merger with another Californiaproducer, while others are watching the company put increasinglymore gas supplies on the market since buying Elk Hills reservesfrom the federal government two years ago.