Needed

The bears’ case for lower prices in the natural gas futures market received a much-needed shot in the arm Thursday morning after the Energy Information Administration (EIA) reported that a well-below-consensus 11 Bcf was withdrawn from natural gas storage for the week ending March 12. The draw, which was exactly 100 Bcf smaller than the previous week’s report, plunged April natural gas futures values to a low of $4.054 before the contract finished Thursday’s regular session at $4.085, down 21.8 cents from Wednesday’s close.

No new natural gas supplies will be needed in Idaho for more than a decade to serve an estimated 1.1% annual growth in retail demand through 2022, Avista Utilities told state regulators as part of its latest integrated resource plan (IRP).

No new natural gas supplies will be needed in Idaho for more than a decade to serve an estimated 1.1% annual growth in retail demand through 2022, Avista Utilities told state regulators as part of its latest integrated resource plan (IRP).

The U.S. natural gas rig count is showing a much faster-than-expected recovery, which is worrisome and could result in more supply than needed in 2010, Barclays Capital analysts said last week.

The U.S. natural gas rig count is showing a much faster-than-expected recovery, which is worrisome and could result in more supply than needed in 2010, Barclays Capital analysts said Tuesday.

Natural gas-directed drilling is bound to go up in 2010 as supplies fall, but energy analysts don’t think there will be as many rigs needed to increase supplies.

Getting some much-needed start-up cargoes for its new Gulf of Mexico liquefied natural gas (LNG) terminal, San Diego-based Sempra Energy announced last Monday it has signed a “flexible” short-term agreement for up to 50 LNG shipments from Qatar through the end of next year. Cargoes equivalent to about 4.8 Bcf each will be shipped to Sempra LNG’s Cameron facility near Lake Charles, LA, starting this August.

Getting some much-needed start-up cargoes for its new Gulf of Mexico liquefied natural gas (LNG) terminal, San Diego-based Sempra Energy announced Monday it has signed a “flexible” short-term agreement for up to 50 LNG shipments from Qatar through the end of next year. Cargoes equivalent to about 4.8 Bcf each will be shipped to Sempra LNG’s Cameron facility near Lake Charles, LA, starting this August.

Systematic regulatory reform with the objective of “weeding out” financial instruments that do not contribute to long-term economic growth is needed to put the world economy on steady footing, according to a report released Thursday by the United Nations Conference on Trade and Development (UNCTAD).