Released

The U.S. Court of Appeals for the D.C. Circuit upheld the mostsignificant aspects of FERC Orders 888 and 889 in a ruling releasedon Friday. “Finding few defects in the orders, we uphold them innearly all respects,” the court stated in its decision(Transmission Access Policy Study Group, et al. v. FERC No.97-1715).

Fueled by yet another bullish storage report released Wednesdayafternoon that dovetailed with an increasingly optimistic technicaloutlook, natural gas futures rocketed higher yesterday as localsand commercial traders reentered the market as buyers. However,after cresting near the all-time prompt month high of $4.60 earlyin the afternoon, the July contract was hit with a light wave ofprofit taking into the close. Nevertheless, July finished with aneat 17.3 cents gain to $4.551.

A report released last week by the newly named Gas TechnologyInstitute (created by the merger of GRI and the Institute of GasTechnology) predicts that technological advances will increase theeconomic lower-48 resource base by 250 Tcf and Canadian recoverableresources by 125 Tcf.

A report released yesterday by the newly named Gas TechnologyInstitute (created by the merger of GRI and the Institute of GasTechnology) predicts that technological advances will increase theeconomic lower-48 resource base by 250 Tcf and Canadian recoverableresources by 125 Tcf.

The Minerals Management Service (MMS) released results of astudy evaluating the role of the federal Outer Continental Shelf(OCS) in supplying future U.S. gas demand. Results were presentedat an industry symposium held in Houston yesterday.

While electric restructuring at the federal level meandersalong, a broad group of industry and consumer organizationsreleased a list last week of 23 principles it believes should beincluded. The group is hoping its efforts might add some urgency tothe legislative process.

PG&E Corp. released negative financial results for 1999caused by its ill-fated experience with Texas natural gasproperties and signaled further retrenchment with the confirmationit is pursuing a buyer for its energy services operations, whichshowed growing losses last year.

PG&E Corp. released negative financial results for 1999caused by its ill-fated experience with Texas natural gasproperties and signaled further retrenchment with the confirmationit is pursuing a buyer for its energy services operations, whichshowed growing losses last year.

California regulators last week released a final environmentalimpact report for the state’s second merchant underground naturalgas storage project in the Sacramento Valley of northernCalifornia. Absent new opposition from surrounding landowners,Texas-based Western Hub Properties hopes to have its $80 millionstorage project operating by the end of this year, following ayear’s delay in the approval process for environmental review.