Running

New York-based J.P. Morgan Chase & Co., one of Enron Corp.’s biggest creditors and rumored to be in the running to make a bid for the company, on Tuesday sued its former business partner for more than $2.1 billion. The lawsuit was filed in the U.S. Bankruptcy Court in New York on behalf of itself and related parties, claiming it has rights to some of Enron’s assets, including accounts receivable, commercial paper, cash and other property not protected in the Chapter 11 reorganization.

Natural gas prices remained on a roller coaster ride of volatility yesterday as bull traders used the latest storage data as a battering ram to propel prices higher in the last 30 minutes of trading. The December contract received the biggest buying boost, posting a 10.8-cent gain at $3.291. The 12-month strip lagged only slightly, advancing 8.4 cents to close at $3.383.

With Canada’s newest natural gas export pipelines running at or near capacity, attention is riveted on how to cope with excess space on the old mainstay. As of June, the latest fully-reported month, Alliance Pipeline and Maritimes & Northeast Pipeline (M&NP) were meeting or exceeding expectations.

With Canada’s newest natural gas export pipelines running at or near capacity, attention is riveted on how to cope with excess space on the old mainstay. As of June, the latest fully-reported month, Alliance Pipeline and Maritimes & Northeast Pipeline (M&NP) were meeting or exceeding expectations.

Democrats in the House of Representatives last Wednesday hit the ground running in their efforts to force consideration of energy price-cap legislation on to the House floor. Democrats, who need signatures from 218 members in order to move the price-cap bill sponsored by Rep. Jay Inslee (D-WA) directly to the House floor, had already collected more than half the required number of signatures as of last week.

Colorado Interstate Gas has announced an open season running through July 20 for a new pipeline to transport Rocky Mountain gas from the Cheyenne Hub to connections in the Midcontinent area near Greensburg, KS.

Democrats in the House of Representatives yesterday hit the ground running in their efforts to force consideration of energy price-cap legislation on to the House floor. Democrats, who need signatures from 218 members in order to move the price-cap bill sponsored by Rep. Jay Inslee (D-WA) directly to the House floor, had already collected more than half the required number of signatures as of late Wednesday.

FERC yesterday issued a certificate to Questar Pipeline to begin building its 75-mile, 272,000 Dth/d pipeline loop running from northeastern Utah to the north central part of the state. 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’s (CIG) Uinta Basin Lateral at Natural Buttes.

Development of clean coal and Arctic oil and gas are running high on the Bush Administration’s list, according to FY 2002 budget proposals released last Monday, which followed on statements by Vice President Dick Cheney.