Transportation Notes

To curb growing linepack, NOVA changed its daily imbalancetolerance range to +2%/-18% at noon Tuesday.

June 14, 2000

New DOE Gas Center Opens Doors

The Department of Energy (DOE) has opened a new Strategic Centerfor Natural Gas that will oversee a full range of the agency’sgas-related activities.

May 29, 2000

NEW DOE Gas Center Opens Doors

The Department of Energy (DOE) last week opened a new StrategicCenter for Natural Gas that will oversee a full range of theagency’s gas-related activities.

May 23, 2000

Canadian Commune Leader Convicted of Gas Well Bombings

A range war in the Canadian natural gas community has come to anend with the industry’s chief enemy being led out of an Albertacourtroom in handcuffs to await a potentially long prison sentencefor sabotage.

April 24, 2000

Storage Bulls Fast Out of Chute

After stabilizing within a tight, 10-cent trading range for thepast week, natural gas futures finally broke to the upsideWednesday amid a post AGA buying surge. May received the largestboost of any month, rallying 7.2 cents to post its first $3.00-plus settlement at $3.021. According to the American GasAssociation 2 Bcf was injected into underground storage facilitieslast week, bringing the total to 1,033, or 31% full. “Its alwaysdifficult to predict the way the market will react to the firstinjection of the season,” a Chicago trader said. “Expectationscalled for net change of plus or minus 10 Bcf and that’s what wegot. If you ask me, I am a little surprised by the market’sreaction,” he said.

April 13, 2000

Oneok Buys Kinder Morgan Midcontinent Assets

Oneok Inc. closed on the acquisition of a wide range ofMidcontinent gas assets from Kinder Morgan Inc. (KMI) lastWednesday after FERC ruled that the operations included in the salewere exempt from the terms of a recent consent agreement, whichimposed a number of restrictions on KMI companies for affiliateviolations [IN00-1]. This transaction, together with Oneok’spurchase of midstream assets from Dynegy Inc. last month, makes thecompany one of the biggest players in the Midcontinent gas market.

April 10, 2000

Futures Rumble Higher as Late Rally Pierces Resistance

After trading within a tight, 20-cent range for almost theentire month of March, natural gas futures finally broke throughstubborn resistance just before the closing bell yesterday in alocal and fund led rally. Advancing 7.8 cents to finish at $2.914,the April contract narrowly edged out the 7.6 gain achieved by theMay contract. Estimated volume was moderate with 74,886 contractschanging hands.

March 28, 2000

Transportation Notes

Despite projecting linepack within its operating limits targetrange, Pacific Gas & Electric extended a high-inventory OFO (seeDaily GPI, March 15 and March 16) into its third day today butloosened the tolerance for positive imbalances slightly from 1% to2%. The utility expects linepack to exceed its upper limit targetagain Saturday.

March 17, 2000

Futures Push Higher as Traders Play it Safe

After trading within a wide, 20-cent trading range Friday,natural gas futures were noticeably quiet yesterday as little inthe way of either fundamental or technical information was seen topropel prices in either direction.

January 25, 2000

Late Sell-Off Deposits Futures Back Below $2.40

After trading within an extremely tight, 3-cent range for almostthe entire trading session Thursday, the January contract was hitwith a late sell-off, as bears took advantage of nearly-illiquid,pre-holiday trading conditions. No fresh news was seen to incitethe liquidation, leaving several traders to suggest it was anattempt to set a bearish tone for the January contract expirationTuesday. The prompt month finished down 4.5 cents at $2.399 amidlight estimated volume of 28,617.

December 27, 1999