Safe

A House subcommittee will hold a hearing Wednesday to respond to requests for the federal government to change its law requiring natural gas pipelines to reinspect their systems every seven years.

Drilling in a natural gas-prone area of western Colorado where an underground nuclear test took place nearly 40 years ago is “relatively safe,” a U.S. Department of Energy (DOE) study concluded.

Drilling in a natural gas-prone area of Colorado where an underground nuclear test took place nearly 40 years ago is “relatively safe,” a U.S. Department of Energy (DOE) study has concluded.

The liquefied natural gas (LNG) industry is still “booming” compared to previous years, but participants need to clearly explain to the public how safe LNG actually is, the secretary general of the Society of International Gas Tankers and Terminal Operators said Thursday.

The average monthly wellhead natural gas price fell from a record high of $10.35/Mcf in October 2005 to $5.03/Mcf in October 2006, which was the lowest monthly average since April 2004. But when one steps back a bit and looks at the market on an annual basis the 2006 roller coaster looks a bit smaller.

The average monthly wellhead natural gas price fell from a record high of $10.35/Mcf in October 2005 to $5.03/Mcf in October 2006, which was the lowest monthly average since April 2004. But when one steps back a bit and looks at the market on an annual basis the 2006 roller coaster looks a bit smaller.

Just when many people thought it was safe to say goodbye to winter, frigid temperatures once again occupied a large swath of high natural gas-demand regions, putting upward pressure on cash prices in a number of areas around the United States. For a second day in a row, Transco Zone 6 NY on Tuesday saw a high of $20 while averaging more than $17.50, an increase of more than $5/MMBtu from Monday’s average. Most other Northeast points also saw gains

‘Playing it safe’ seemed to be the motto of natural gas futures traders again on Tuesday. After climbing as high as $11.860 in Tuesday morning trade, December natural gas began its search lower in the afternoon, putting in an $11.500 low before settling at $11.563, down 4.4 cents for the day.

Just when you thought it was safe to close the books on the 2005 hurricane season and turn your attention towards the winter heating season, Tropical Storm Wilma, the record-tying twenty-first storm of the season has formed southeast of Grand Cayman. With Wilma’s path still very uncertain, the natural gas futures market spooked higher in Nymex’s Sunday Access session and then retained those gains through Monday’s regular session, ultimately settling at $13.887, 66.8 cents higher than last Friday’s close.