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The increased amount of liquefied natural gas (LNG) in the world is quickly developing a global market for natural gas and CME Group Inc. is looking to capture interested traders by creating new contracts that span the gap from the United States to the United Kingdom.

Earnings report season is quickly approaching for the energy sector, but some natural gas-focused investors may look beyond 1Q2009 profits to hear what’s ahead in the oversupplied domestic markets. Some energy analysts don’t foresee gains in gas prices until 2010, and at least one analyst thinks it is an opportune time for the majors to build their portfolios both onshore and offshore in North America.

Southwest Gas said pipe maintenance being performed near its interconnect with Transwestern and El Paso is not progressing as quickly as anticipated, causing the maintenance schedule to be extended. It is anticipated that the pipeline will return to service on Thursday this week instead of Tuesday (April 14) as previously indicated, Southwest said. Deliveries into Las Vegas from El Paso and Transwestern are not available while the work continues, the LDC added.

As President Obama called on Congress to act quickly on the economic stimulus bill, the Senate Monday invoked cloture on a slimmed-down, bipartisan substitute amendment to the recovery bill that seeks to jump-start a green economy, including provisions to promote greater production of renewable fuels, new power transmission facilities and increased energy efficiency and conservation.

The Senate Energy and Natural Resources Committee is moving quickly to get President-elect Obama’s energy and environmental nominees confirmed by the Senate. It has scheduled the confirmation hearing for Nobel Prize-winning physicist Steven Chu, who has been tapped to be secretary of energy, for Jan. 13, and the confirmation hearing for Sen. Ken Salazar (D-CO), Obama’s choice for Interior Department secretary, for Jan. 15.

Energy regulators and exchanges moved quickly Monday to calm fears about the futures markets after Lehman Brothers Holding Inc. filed for bankruptcy protection and Merrill Lynch & Co. agreed to be sold to Bank of American Corp. for $50 billion. The Lehman bankruptcy roiled Wall Street and financial markets around the world. The New York Stock Exchange was down 410 points; Dow Jones Industrials was off 504 points (the biggest drop since September 2001); and the S&P 500 lost about 57 points in daily trading.

Alberta has long been the alpha dog of Canada’s natural gas exploration, but British Columbia is quickly proving it can run with the pack. Nexen Inc. last week became the latest of several pedigreed gas producers to track down success in the emerging shale prospects in the Horn River Basin.

Alberta has long been the alpha dog of Canada’s natural gas exploration, but British Columbia is quickly proving it can run with the pack. Nexen Inc. this week became the latest of several pedigreed gas producers to track down success in the emerging shale prospects in the Horn River Basin.

If Rockies Express Pipeline (REX) quickly files needed environmental information, FERC will be able to meet the pipeline’s request for an expedited final environmental review and certificate for its REX-East leg, said Chairman Joseph Kelliher Friday.