Reassess

With natural gas futures prices reaching six month lows last week, energy analysis firms are having to reassess their 2006 price estimates to account for the unseasonably warm weather streak that much of the U.S. has experienced this winter-to-date. Analysts at Raymond James said Monday that they were lowering their natural gas forecasts for the first half of 2006 due to “highly unfavorable weather.”

Falcon Gas Storage Co. Inc. said Tuesday it will reassess its design parameters for Phase 1 of its MoBay Storage Hub project in Alabama after capacity bids submitted during the open season for the facility exceeded the working gas capacity proposed.

The next natural gas production project offshore of Nova Scotia has been postponed for at least a year, due to uncertainty over reserves and markets that is also likely to delay expansion by Maritimes & Northeast Pipeline (M&NP).