Options

While rising demand in both the electric and natural gas markets needs to be addressed by options that aren’t “mutually exclusive,” FERC’s newest commissioner, Suedeen Kelly, told an industry conference Friday in Santa Fe, NM, her home state, that voluntary, varying regional solutions, including more renewables, are the ultimate answer to the nation’s currently converging energy challenges.

Attorneys for the California Public Utilities Commission (CPUC) indicated last week that they are reviewing FERC’s denial of rehearing of its decision in the Sound Energy Solution (SES) liquefied natural gas (LNG) terminal proposed for the Port of Long Beach, CA. FERC asserted exclusive federal jurisdiction over the proposed LNG receiving terminal (see NGI, June 14, May 24, May 3, April 26). The CPUC has 60 days to make a federal district court filing on the issue.

Attorneys for the California Public Utilities Commission (CPUC) indicated Monday that they are reviewing FERC’s denial of rehearing of its decision in the Sound Energy Solution (SES) liquefied natural gas (LNG) terminal proposed for the Port of Long Beach, CA. FERC asserted exclusive federal jurisdiction over the proposed LNG receiving terminal (see Daily GPI, June 14). The CPUC has 60 days to make a federal district court filing on the issue.

Despite a 4% increase in futures and options trading and clearing volume last year to a record 139.2 million, Nymex Holdings, the parent company of the New York Mercantile Exchange, reported that its net income fell 28% to $8.9 million, while its earnings per share dropped by the same amount to $10,882. Operating revenue decreased $5 million to $184.2 million. Operating expenses rose about $3.1 million to $165.5 million while clearing and transaction fees were reduced 0.7%. Volume submitted for clearing only through the Nymex ClearPort clearing platform rose 0.5 million to six million contracts. Nymex Division seat values reached a record $1.625 million.

Arizona regulators are expected to finish their current review and decide whether to beef up the state’s natural gas infrastructure, including first-ever storage, by some time in September, a Phoenix-based spokesperson for the Arizona Corporation Commission (ACC) said Monday.

Arizona regulators are expected to finish their current review and decide whether to beef up the state’s natural gas infrastructure, including first-ever storage, by some time in September, a Phoenix-based spokesperson for the Arizona Corporation Commission (ACC) said Monday.

Rocky Mountain Gas Inc. (RMG) upped its potential in the Powder River Basin after signing an option agreement to acquire nearly 40,0000 net acres of undeveloped coalbed methane (CBM) properties in northeastern Wyoming.

With its subsidiary NRG on the financial ropes and near bankruptcy, Xcel Energy on Friday announced plans to sell the Viking Gas Transmission pipeline and a one-third interest in the Guardian Pipeline project to Northern Border Partners LP for $152 million including associated debt. Northern Border Partners is expected to purchase all of the common stock of Viking by the end of December, subject to regulatory approvals.

The House-Senate Energy Conference Committee approved some key provisions last week that pave the way for an Alaskan natural gas pipeline to be built, but one item prohibits a northern pipeline route across the Beaufort Sea and ultimately down the Mackenzie River in Canada. A proposal sponsored by Sen. Frank Murkowski (R-AK) and approved by the committee will require that the pipeline be built along the Alaska Highway south through the Railbelt and the Yukon to reach the lower 48 states.