All points were falling Monday in the general absence of severewinter weather except in parts of the Upper Midwest. For a change,the softness was relatively consistent; although California onceagain registered declines larger than most at the border and Malin,it was not nearly as out of step with the overall market as itoften had been since March began. Most of Monday’s drops werebetween 10 and 20 cents.
Points
Articles from Points
CA Republicans Call for Special Session on Natural Gas Issues
Hoping to make some political points and address a somewhatforgotten side of California’s energy woes, the minority RepublicanParty leaders in the state legislature Monday asked Gov. Gray Davisto call a second, concurrent special session of the state lawmakersto address natural gas supply and price issues that are related tothe electricity crisis.
Transportation Notes
Effective Saturday (Dec. 9) Northwest planned to move from itsthen-current Stage II (8%) Entitlement for delivery points north ofKemmerer (WY) Station to a Stage 1 (3%) Entitlement. Northwest saidit was taking the action to insure operational integrity “giventhat the system has been drafted for the last two days andextremely cold weather is predicted for most of Northwest’smarkets.”
Transportation Notes
Transco said Wednesday it had shut in all receipt points on its12-inch North High Island system upstream of High Island Block 154on the afternoon of Nov. 16 after discovering a leak in GalvestonBlock 237. No explanation was available for why the shut-insweren’t announced on the Transit bulletin board until nearly a weeklater, a spokeswoman said. About 50 MMcf/d of production willremain shut in until repairs are complete; Transco estimated theoutage would last between two and four weeks.
CIG’s Picketwire Lateral Adds 33 MDth/d
Colorado Interstate Gas Co. has begun transporting an additional33 Mdth/d of natural gas from the Raton Basin to delivery points onits system following completion of its Picketwire Lateral Loop insouthern Colorado. The Coastal Corp.’s Rocky Mountain pipelinesubsidiary placed the line in service Oct. 24.
Transportation Notes
Northwest issued a Declared Stage II Entitlement for deliverypoints north of the Kemmerer (WY) Compressor Station, effectiveSaturday until further notice. The purpose was to prevent customerdrafting of the system and to preserve Northwest’s Jackson Prairiestorage inventory, the pipeline said. A Receiving Party is subjectto penalties for delivery point takes of more than 8% above itsconfirmed nominations.
West Again Mostly Higher in Face of Overall Softening
Once again several western points defied the overall downwardtrend of the cash market Tuesday. Most eastern quotes ranged 2-3cents to either side of down a nickel, but Rockies/San Juan andNorthern California increases went as high as a dime-plus.
New Book Points to Market Controls on Hedging
Regulators can be expected to add more controls on natural gasand power risk management, which will add a layer of complexity anddiscourage new hedging operations, according to two close observersof the industry.
New Book Points to Market Controls
Regulators can be expected to add more controls on natural gasand power risk management, which will add a layer of complexity anddiscourage new hedging operations, according to two close observersof the industry.
Prices Fall; El Paso South Mainline Out Indefinitely
All cash points retreated Wednesday within a range of about anickel to 20 cents, with most declines occupying the middle groundat 8-15 cents. Sources attributed the softening to the screen’sweakness a day earlier, a general dearth of cooling load, anddoubts about production risks from downgraded Tropical Storm Debby.