Receiving

Weather or Not, Correction is Likely Following Monday’s Advance

After receiving a combination of supportive storage and weather news Monday morning, natural gas traders lifted the futures market off its early session lows and notched a 15-cent advance in just 45 minutes. The market moved sideways throughout the afternoon as technical selling associated with congestion in the $4.35 area from last week was enough to corral bulls. January closed at $4.32, up 12 cents for the session.

December 3, 2002

El Paso, Duke Energy Subpoenaed in Grand Jury Investigation

El Paso Corp. and Duke Energy late last week joined the ranks of energy companies receiving subpoenas from federal authorities seeking information on questionable trading activities. Both companies received subpoenas from the U.S. Attorney’s Office in Houston regarding a grand jury investigation, and Duke Energy was handed a subpoena by the Commodity Futures Trading Commission (CFTC) as well.

October 28, 2002

Negotiations Delay Proposed Texas LNG Terminal

A deal to sell a 60% interest in one of three proposed liquefied natural gas (LNG) receiving terminals along the Texas coast stalled on Friday, but the parties remained optimistic that the transaction will be completed before the end of this year, paving the way for a LNG terminal in Freeport, TX.

September 23, 2002

Negotiations Delay Proposed Texas LNG Terminal

A deal to sell a 60% interest in one of three proposed liquefied natural gas (LNG) receiving terminals along the Texas coast stalled on Friday, but the parties remained optimistic that the transaction will be completed before the end of this year, paving the way for a LNG terminal in Freeport, TX.

September 23, 2002

Transportation Notes

Kern River reported receiving notification late Thursday afternoon that operational problems at Opal Plant potentially could cause a supply shortage to the pipeline of about 120,000 dekatherms. Upon Kern River’s request, plant operator Williams Field Services agreed to keep Kern River shippers whole for Thursday’s gas day. In a follow-up notice Friday, Kern River said Thursday’s supply shortfall from Opal was 108,000 dekatherms. Kern River asked that WFS deliver an extra 25,000 dekatherms Friday and an extra 15,000 Dth/d Saturday through Monday in order to restore the pipe’s linepack. A Williams spokesman said Monday that Opal Plant had experienced a one-hour power outage Thursday, and also received a batch of gas with excessive moisture content. However, there were no operational issues remaining Monday, he said.

September 10, 2002

FERC Clears Construction of Kern Expansion Facilities in WY, UT

Less than three weeks after receiving a certificate for the project, the Federal Energy Regulatory Commission has given Kern River Gas Transmission a green light to begin constructing some of its 2003 Expansion pipeline and compression facilities in Wyoming and Utah.

August 12, 2002

FERC Clears Construction of Kern Expansion Facilities in WY, UT

Less than three weeks after receiving a certificate for the project, the Federal Energy Regulatory Commission has given Kern River Gas Transmission a green light to begin constructing some of its 2003 Expansion pipeline and compression facilities in Wyoming and Utah.

August 8, 2002

Japanese Interests Plan LNG Terminal in Los Angeles Harbor

Japanese interests, including giant Mitsubishi Corp., are pursuing a possible liquefied natural gas (LNG) receiving terminal in Los Angeles Harbor, which combined with neighboring Long Beach is the busiest port in the United States and the third busiest in the world. Rather than suffer through the pitfalls of their predecessors by overlooking local concerns, the Japanese are making a grass roots effort to get this project off the ground.

May 27, 2002

Transportation Notes

Transco reported receiving gas with “slightly higher heating content in its mainline over the past week and feels this is the result of processing plants scaling back their operations due to poor economics.” It reminded producers and shippers on its system to ensure that processing arrangements are in place that will allow receipts to meet the pipeline’s merchantability requirements. Those specifications were outlined in a notice that was most recently reposted on July 27, 2001, Transco said.

December 21, 2001

Questar Receives Final Green Light on Utah Pipe

Almost a month after receiving FERC approval for its 75-mile Main Line No. 4 expansion/extension in Utah, Questar Pipeline reported last week it has cleared the final regulatory hurdles necessary to begin construction. The proposed facilities would transport to western markets the growing coal-seam natural gas production near Price, UT, and the volumes delivered to Questar from Colorado Interstate Gas’ (CIG) Uinta Basin Lateral at Natural Buttes.

December 3, 2001