Opening

On the 10th anniversary of adoption of Pacific Gas and Electric Co.’s (PG&E) unbundling and opening up of its natural gas transmission pipeline and storage system in what has come to be called its Gas Accord, the California Public Utilities Commission (CPUC) last Thursday approved a 31-party settlement creating Gas Accord IV covering 2008 through 2010. Separately, the CPUC also approved the utility’s proposed program for retail gas user rebates this winter as rewards for conserving energy in the height of the space heating season.

FERC Commissioner Philip Moeller said Tuesday he is generally supportive of opening access to new sources of natural gas and believes building energy infrastructure should be a national priority.

Would-be importers overcame a challenge by the Alberta government to win a landmark victory in opening eastern Canada to offshore cargoes of liquefied natural gas (LNG) with rolled-in tolls for connections to the new supplies. The National Energy Board cited the growing aggregate demand of all shippers combined with the expected decline of supplies from the Western Canada Sedimentary Basin as driving its decision.

Would-be importers overcame a challenge by the Alberta government to win a landmark victory in opening eastern Canada to offshore cargoes of liquefied natural gas (LNG) with rolled-in tolls for connections to the new supplies. The National Energy Board cited the growing aggregate demand of all shippers combined with the expected decline of supplies from the Western Canada Sedimentary Basin as driving its decision.

As the globalization of the natural gas business continues, Dubai is opening its backyard to what it hopes will be the world’s liquefied natural gas (LNG) storage depot and a balancing point between the Atlantic and Pacific basins. It’s the kind of project that wouldn’t stand a chance in New England.

As the globalization of the natural gas business continues, Dubai is opening its backyard to what it hopes will be the world’s liquefied natural gas (LNG) storage depot and a balancing point between the Atlantic and Pacific basins. It’s the kind of project that wouldn’t stand a chance in New England.

After opening Friday at $6.560, which would end up sticking as the low for the day, February natural gas futures pushed higher as commercial hedgers covered their short positions ahead of the weekend. The prompt-month contract recorded a high of $6.940 before settling at $6.886, up 56.2 cents on the day and 28.5 cents higher than the previous week’s close.

Nymex Holdings in its first day as a publicly traded company Friday soared to more than double its initial public offering (IPO) price, opening up 103% higher at $120 per share before climbing to a high of $152 on the New York Stock Exchange. The newly public company’s share price finished the day at $132.99.

Nymex Holdings in its first day as a publicly traded company Friday soared to more than double its initial public offering (IPO) price, opening up 103% higher at $120 per share before climbing to a high of $152 on the New York Stock Exchange. The newly public company’s share price finished the day at $132.99.