Noting it has “three teams” of negotiators talking to Russia’s Gazprom, Sempra Energy divulged during a first-quarter earnings conference call Wednesday that it is exploring power generation and energy marketing deals with the gas producer in addition to processing some of its liquefied natural gas (LNG) through one or more North American receiving terminals.
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Sempra Exploring Multiple Deals with Gazprom
Noting it has “three teams” of negotiators talking to Russia’s Gazprom, Sempra Energy divulged during a first-quarter earnings conference call Wednesday that it is exploring power generation and energy marketing deals with the gas producer in addition to processing some of its liquefied natural gas (LNG) through one or more North American receiving terminals.
Transportation Notes
Southern California Gas did not extend a high-linepack OFO beyond Saturday.
Xcel Energy Sells Engineering Subsidiary
Noting it would take a “small loss” on the deal, Xcel Energy announced Thursday it has reached an agreement to sell its unregulated, Denver-based Utility Engineering Corp. (UE) subsidiary to Zachry Group Inc., a San Antonio, TX-based contractor. The parties did not make the terms of the sale public. It is expected to close next month.
Raymond James Forecasts 2005 Gas at $7.25/Mcf
Noting that, on average, the oil and natural gas price forecasts of Raymond James Energy Research have been more materially accurate than Wall Street estimates or 12-month futures strips from 2001 through 2004, Raymond James analysts said in a research note that they are again more optimistic than consensus, putting 2005 oil at $44/bbl and full-year gas at $7.25/Mcf.
Raymond James Forecasts 2005 Gas at $7.25/Mcf
Noting that, on average, the oil and natural gas price forecasts of Raymond James Energy Research have been more materially accurate than Wall Street estimates or 12-month futures strips from 2001 through 2004, Raymond James analysts said in a research note that they are again more optimistic than consensus, putting 2005 oil at $44/bbl and full-year gas at $7.25/Mcf.
Transportation Notes
Noting that freezing temperatures were being forecasted for the northern half of Florida through at least Monday night and that its total linepack was down, Florida Gas Transmission initiated a new Overage Alert Day notice for market-area customers Sunday with 20% tolerance for negative daily imbalances Sunday. The notice was kept in place Monday with tolerance tightened to 10%.
CA Establishes Increased Natural Gas Efficiency Programs
Noting that since the energy crisis that electricity programs have sprinted ahead relative to gas, the California Public Utilities Commission Thursday increased funding by 20% this winter for natural gas energy efficiency programs by the state’s three major private-sector gas utilities as a means of helping the gas programs catch up. The added funding is projected to save 8.7 million therms, or a 40% boost in energy savings.
CA Establishes Increased Natural Gas Efficiency Programs
Noting that since the energy crisis that electricity programs have sprinted ahead relative to gas, the California Public Utilities Commission Thursday increased funding by 20% this winter for natural gas energy efficiency programs by the state’s three major private-sector gas utilities as a means of helping the gas programs catch up. The added funding is projected to save 8.7 million therms, or a 40% boost in energy savings.
IPAA Chief Warns of Natural Gas Emergency; Calls for Gas-Specific Legislation
Noting that the United States is facing a natural gas crisis very much like the current flu vaccine shortage, the chairman of the Independent Petroleum Association of America (IPAA) called on Congress to take up “narrowly focused” natural gas legislation when it returns for a new legislative session in January.