Promise

Short of an abrupt and unforeseen big drop in wholesale natural gas prices, liquefied natural gas (LNG) imports promise to be a huge stimulus to investment in new natural gas infrastructure, according to the strategy outlined by Sempra Energy COO Donald Felsinger, who spoke Tuesday at the Merrill Lynch “Power & Natural Gas Leaders Conference” in New York City.

While gas production in the Midcontinent region has been declining steadily over the last decade and is projected to drop another 3.5% this year, there has been a surprising increase in the pace of drilling and a renewed interest in regional exploration and development, said Energy and Environmental Analysis Inc. (EEA) in its Monthly Gas Update.

While gas production in the Midcontinent region has been declining steadily over the last decade and is projected to drop another 3.5% this year, there has been a surprising increase in the pace of drilling and a renewed interest in exploration and development, said Energy and Environmental Analysis Inc. (EEA) in its Monthly Gas Update.

In an effort to prod the White House into following through on its promise to renominate William Massey, a Democrat, to the Federal Energy Regulatory Commission, Sen. Dianne Feinstein (D-CA) has blocked many of President Bush’s judicial and other nominees.

In an effort to prod the White House into following through on its promise to renominate William Massey, a Democrat, to the Federal Energy Regulatory Commission, Sen. Dianne Feinstein (D-CA) has blocked many of President Bush’s judicial and other nominees.

Following through on a promise made last spring to stabilize operations and improve earnings, TXU Corp. CEO Erle Nye on Monday said the company will deliver 10% higher earnings than previously forecast, and expects to report $1 a share for the third quarter, compared with a previous guidance of 90 cents.

In an election day promise, Arnold Schwarzenegger, California’s newly elected governor, movie actor and former body-builder, vowed Tuesday to try to use market-based approaches on the state’s ailing wholesale energy markets.

House and Senate negotiators made some progress last week on broad energy legislation — mostly on issues unrelated to crude oil and natural gas — but they had their work interrupted for two days by the arrival of Hurricane Isabel. Negotiators met with President Bush before leaving town ahead of the storm, and assured him an energy bill would be on his desk by mid-October.

Cutting the dividend to fund growth has become more common among integrated energy companies and utilities in recent months, but changing circumstances and new tax laws could reverse that policy, according to a report issued Thursday by CreditSights analysts.