Regional

With a Pacific Northwest native and current FERC commissioner, Philip Moeller, endorsing the need for a liquefied natural gas (LNG) facility, two other regional gas advocates made the case for bringing added gas supplies into the region, while pointing out that current depressed wholesale prices in North America, not the global financial crisis, are the current impediment to new supplies from both pipelines and LNG imports.

The LDC Forum Rockies & West conference, which concluded last Wednesday in Irvine, CA, offered a regional glimpse of the post-global credit crunch energy sector. Panel discussions and keynote talks were as significant for what was not emphasized as for what was.

The LDC Forum Rockies & West conference, which concluded Wednesday in Irvine, CA, offered a regional glimpse of the post-global credit crunch energy sector. Panel discussions and keynote talks were as significant for what was not emphasized as for what was.

The PJM Interconnection last week called on FERC to take action to prevent defaults on trades involving financial transmission rights (FTR) positions in the regional transmission organization (RTO), which are leaving its members holding the bag.

Atlantic Sea Island Group LLC Wednesday sued to stay a November decision by the U.S. Maritime Administration (MARAD) granting New Jersey “adjacent coastal state” designation in the federal review of Safe Harbor Energy, a proposed liquefied natural gas (LNG) terminal.

With long-time nation-leading customer growth rates slowing, Portland, OR-based Northwest Natural Gas is eyeing a wider, regional role with two infrastructure projects that will enhance natural gas pipeline and storage infrastructure on the West Coast. Those plans are proceeding as envisioned, according to Northwest’s CEO Mark Dodson. Northwest on Thursday announced increased earnings in 2007 of 17% and 21% for net income and earnings-per-share, respectively ($74.5 million, or $2.78/share).

With snowstorms remaining in the regional forecast and highs in the 20s due Tuesday in New England and much of New York state, most Northeast citygates skyrocketed by multi-dollar amounts Monday to as high as $22.75 in Transco Zone 6’s New York City pool. However, such super-strength was not matched anywhere else even though the Midwest also faces highs in the 20s or less Tuesday. A few small gains outside the Northeast were heavily outweighed by declines.

For a regional market that couldn’t seem to buy a price break all week, the Rockies came roaring back Friday with triple-digit spikes. That was in sharp contrast to falling prices at virtually all other points as above-normal temperatures were expected to be in place by the end of the weekend in nearly all of the U.S. except its northwest corner. The weekend retreat of industrial load was a minor bearish factor.

Growing wellhead deliverability and flat-to-intermittent regional natural gas export capacity continue to bedevil Rocky Mountain producers, but it remains to be seen whether the Rockies Express (REX) Pipeline will turn out to be the “basis savior” some expect, an energy consultant said last week.