IntercontinentalExchange (ICE) announced that beginning Monday, Feb. 9 it will offer clearing services for physical natural gas products at three additional points — Columbia Gulf Onshore, Columbia Gulf Mainline and Tennessee 500 Leg — through its exclusive alliance with Natural Gas Exchange (NGX). ICE already has 10 clearable locations at the Henry Hub, Malin, PGE Citygate, Demarc, NGPL-TEXOK, NGPL-Midcont, Panhandle, TCO, Dominion-South. and Transco Stn 65. The clearing services offered by NGX are an extension of ICE’s standard bilateral trading capabilities, which will remain unchanged. Similar to the cleared financial markets functionality, both cleared and bilateral orders will be displayed in the same price stream. There will be a fundamental change to the hours of operation for these new clearable markets. Trading hours will be 7:30 a.m. EST to noon EST for all Next Day and Balance of Month products. To use the physical clearing, traders will first need to establish an account with NGX. ICE first introduced cleared financial gas products (Henry Hub Swap) to the industry in 2002 and paper basis a short time later. ICE said the success of using a central counterparty to clear and settle transactions led to the strategic alliance between ICE and NGX. Traders are advised to contact ICEHELPDESK at (770) 738-2101 with technical issues.
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Energy Companies, Environmentalists Unite for Cap-and-Trade Emissions
A group of influential U.S. corporations, including top oil and gas and power companies, last week joined environmental organizations to offer a detailed blueprint for the incoming Obama administration that, among other things, calls for a cap-and-trade system to cut 2005 greenhouse gas (GHG) emissions levels 42% by 2030 and 80% by 2050.
Energy Companies, Environmentalists Unite for Cap-and-Trade Emissions
A group of influential U.S. corporations, including top oil and gas and power companies, Thursday joined environmental organizations to offer a detailed blueprint for the incoming Obama administration that, among other things, calls for a cap-and-trade system to cut 2005 greenhouse gas (GHG) emissions levels 42% by 2030 and 80% by 2050.
ALJ Certifies Settlement Of Charges Against Amaranth
FERC Administrative Law Judge (ALJ) Carmen Cintron last Wednesday certified as uncontested a joint offer of settlement resolving charges that collapsed hedge fund Amaranth Advisors LLC, affiliates and two former natural gas traders manipulated gas trading activity in the futures market.
ALJ Certifies Settlement Of Charges Against Amaranth
FERC Administrative Law Judge (ALJ) Carmen Cintron Wednesday certified as uncontested a joint offer of settlement that resolves charges that collapsed hedge fund Amaranth Advisors LLC, affiliates and two former natural gas traders manipulated gas trading activity in the futures market.
Forecasters Differ on Northeast’s November Temperatures
A pair of weather forecasts issued Monday offer differing views of upcoming temperatures in the Northeast, with one saying the region may be seeing an early start to wintry conditions and another predicting a warmer-than-normal November. Both forecasts call for colder-than-average temperatures to dominate the region in December.
Drilling Ignored in Democrats’ Energy Plank
The energy platform espoused by Democrats meeting at the national convention this week in Denver has little, if anything, to offer the oil and natural gas industry.
Pelosi Says House to Consider Opening Some OCS Areas
House Speaker Nancy Pelosi (D-CA) said Saturday the Democratic leadership plans to offer a broad energy bill in September that would open some closed portions of the federal Outer Continental Shelf (OCS) to oil and natural gas drilling. Instead of welcoming her remarks, however, House Republicans continued to be wary.
Industry Gets Peek into FERC Enforcement Process, More Rights
FERC last Thursday issued a package of reforms that offer regulated companies a window into the agency’s enforcement process, as well as provide potentially targeted companies with more rights in the enforcement process.
Industry Gets Peek into FERC Enforcement Process, More Rights
FERC Thursday issued a package of reforms that offer regulated companies a window into the agency’s enforcement process, as well as provide potentially targeted companies with more rights in the enforcement process.
