Opening

July futures recovered from an opening loss but still couldn’t manage to make it into positive territory Wednesday. Bulls and bears seem almost evenly divided, but short-term traders did note a return of commercial buying interest. At the close July had eased 0.4 cent to $4.577 and August fell 0.2 cent to $4.611. July crude oil tumbled $4.56 to $94.81/bbl.

With the booming U.S. industry players keeping a close eye out for the opening of global markets, India reported completing its first shale gas well Tuesday as some observers of the Indian energy space speculate that the nation may have its largest natural gas deposits locked in shale. U.S. oilfield services provider Schlumberger drilled India’s first well.

Natural gas bulls thought they were in the driver’s seat as just prior to the opening of Monday’s floor trading January futures traded as high as $4.547, a stout 13 cent rise relative to Friday’s settlement.

With predictions for a 10-year low in water levels, Pacific Northwest energy planners are looking at an upswing in natural gas use for electric generation in the opening months of the summer. The Northwest River Forecast Center’s latest outlook released earlier in April underscored this prospect.

With predictions for a 10-year low in water levels, Pacific Northwest energy planners are looking at an upswing in natural gas use for electric generation in the opening months of the summer. The Northwest River Forecast Center’s latest outlook released earlier in April underscored this prospect.

In a reprise of legislation that died in committee last year, a proposal surfaced at the opening of the Oregon Legislature’s new session that would require a needs assessment for any liquefied natural gas (LNG) terminal or connecting pipeline tied to imports of new natural gas supplies into the state.

In a reprise of legislation that died in committee last year, a proposal has surfaced at the opening of the new session for the Oregon Legislature requiring a needs assessment for any liquefied natural gas (LNG) terminal or connecting pipeline tied to imports of new natural gas supplies into the state. The action is supposedly in response to the state’s three pending LNG terminal projects now in various stages of permitting (see Daily GPI, Jan. 4).

With domestic natural gas production growing and gathering opportunities opening up, it’s an “optimum time” for El Paso Corp. to reenter the midstream business, an executive said last week.

With domestic natural gas production growing and midstream opportunities opening up, it’s an “optimum time” for El Paso Corp. to reenter the midstream business, an executive said Tuesday.