Release

Members of a new coalition formed by county commissions in Utah, Nevada, Wyoming, Idaho and Oregon on Thursday asked El Paso Corp. to release details of a $20 million contract between the company and some environmental groups that ostensibly will quell opposition to construction of the Ruby Pipeline.

Members of a new coalition formed by county commissions in Utah, Nevada, Wyoming, Idaho and Oregon on Thursday have asked El Paso Corp. to release details of a $20 million contract between the company and some environmental groups that ostensibly will quell opposition to construction of the Ruby Pipeline.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) has postponed until Friday the release of a highly explosive bill that would require major swap dealers to separate their derivatives businesses from investment bank activities; would provide a “narrow exemption” to bona fide hedgers of the requirements for mandatory trading and clearing of over-the-counter (OTC) derivatives; and would increase the enforcement authority of regulators.

Senate Agriculture Committee Chair Blanche Lincoln (D-AR) has postponed until Friday the release of a highly explosive bill that would require major swap dealers to separate their derivatives businesses from investment bank activities; would provide a “narrow exemption” to bona fide hedgers of the requirements for mandatory trading and clearing of over-the-counter (OTC) derivatives; and would increase the enforcement authority of regulators.

A bipartisan group of senators has called on Sen. Barbara Boxer (D-CA), who is expected to release the Senate climate change bill Wednesday, to avoid what they believe was a mistake in the House climate bill — the exclusion of natural gas (see Daily GPI, Aug. 19).

Correction: Macquarie Cook Energy’s 8.12 Bcf/d was omitted from the initial release of the 2Q2009 survey. NGI has since received the Houston-based company’s data, which ranks Macquarie Cook fourth on the 2Q2009 survey. Macquarie Cook integrated Constellation Energy’s gas trading business into its operation at the beginning of April 2009 (see Daily GPI, March 31). The divestitures completed two initiatives that Constellation took to reduce risk in its merchant businesses and improve liquidity through the return of posted collateral. In a related transaction, Constellation struck a gas supply agreement with Macquarie Cook to supply gas to Constellation’s Louisville, KY-based retail division, Constellation NewEnergy Gas. In the second quarter of 2008 Constellation ranked second on NGI’s ranking of top gas marketers by volume at 14.2 Bcf/d, behind BP plc at 30.3 Bcf/d and tied with ConocoPhillips, which also reported 14.2 Bcf/d.

The Energy Information Administration (EIA) is due to release a report soon that will show nationwide natural gas storage capacity has risen 100 Bcf or more since last year, but it may not be enough to help producers who, faced with the lowest gas prices in seven years, are looking at the prospect of shutting in their gas.

The Energy Information Administration (EIA) is due to release a report soon that will show nationwide natural gas storage capacity has risen 100 Bcf or more since last year, but it may not be enough to help producers who, faced with the lowest gas prices in seven years, are looking at the prospect of shutting in their gas.

Southern Company Services (SCS) agreed to pay $350,000 as FERC continued its crackdown last week on violators of the agency’s capacity-release rules, including the shipper-must-have-title (SMHT) requirement and the prohibition on buy-sell transactions.