Record

A California Public Utilities Commission (CPUC) initiated investigation of Pacific Gas and Electric Co.’s (PG&E) recordkeeping in its natural gas distribution system has turned up repeated violations contributing to explosions over the past two years. The report is part of proceedings on pipeline safety and possible penalties for recordkeeping violations.

September natural gas is expected to open a penny lower Friday morning at $2.80 as traders look beyond the heat and humidity grilling Texas and the Southeast and anticipate record storage by the end of the season. Overnight oil markets weakened.

Only a few natural gas forwards markets showed any signs of life during the short Independence Day holiday week, with the majority of price points swinging just a few cents in either direction.

Thursday was a great day to be a buyer if you needed natural gas for the extended holiday weekend, but buyers on average were few and far between, and spot physical prices fell, with numerous record lows recorded in the East.

Only a few natural gas forwards markets showed any signs of life during the short Independence Day holiday week, with the majority of price points swinging just a few cents in either direction.

Thursday was a great day to be a buyer if you needed natural gas for the extended holiday weekend, but buyers on average were few and far between, and spot physical prices fell, with numerous record lows recorded in the East.

Con Edison of New York (Con Ed) set a new record for natural gas consumption last week after a blast of cold weather hit its service area, which includes most of New York City and Westchester County, NY.

More than a year after an eager East Coast provincial government named Canada’s lone liquefied natural gas (LNG) import terminal as a prime candidate to switch to revenue-generating exports, the plant refuses to be rushed into making the change.

While recording a 1Q2014 $40 million charge after nearly $3 billion in safety-related natural gas pipeline work, Pacific Gas and Electric Co. (PG&E) also reported Thursday that a recent house consultant’s report shows the utility’s use of pipe records needs improvements.