Scramble

January natural gas advanced Thursday as traders anticipating a further increase in gas storage had to scramble to cover short positions when the government announced an inventory decline. January gained 9.8 cents to $3.648, and February posted a gain of 9.7 cents to $3.675. January crude oil slipped 16 cents to $100.20/bbl.

Dozens of countries have launched programs to attempt to emulate the successful exploitation of shale in the United States, but it will take more than copying a formula, according to the International Energy Agency (IEA).

The September natural gas futures contract went off the board with a bang on Friday as no change in the market’s weak fundamentals and a scramble to square books ahead of expiration resulted in a 16.6-cent, or 4.4%, decline to $3.651, which is 46.6 cents, or 11.3%, lower than the previous week’s close. Taking over the front-month contract title, October futures closed Friday at $3.705, down 13.8 cents, or 3.6%, from Thursday’s close and 43.2 cents, or 10.4%, lower than the previous week’s finish.

While electric utilities scramble to keep up with the wind-whipped wildfires’ continuing fury Wednesday, the natural gas distribution and transmission operations of Sempra Energy’s two utilities in Southern California have remained mostly unscathed, according to spokespersons for the two utilities, Southern California Gas Co. (SoCalGas) and San Diego Gas Co. (SDG&E).

The industry scramble to find new gas supply sources should begin paying significant dividends as early as 2006, according to consultants at Arlington, VA-based Energy Ventures Analysis (EVA). By 2025, EVA sees the potential for 23.8-33.2 Bcf/d of additional gas supply coming from a wide variety of new sources.

The industry scramble to find new gas supply sources should begin paying significant dividends as early as 2006, according to consultants at Arlington, VA-based Energy Ventures Analysis (EVA). By 2025, EVA sees the potential for 23.8-33.2 Bcf/d of additional gas supply coming from a wide variety of new sources.

Midwestern local distribution companies (LDCs) are looking at far fewer suppliers and treading cautiously in the new wholesale market without the large marketers they had relied on in the past.

Midwestern local distribution companies (LDCs) are looking at far fewer suppliers and treading cautiously in the new wholesale market without the large marketers they had relied on in the past.

El Paso Corp. and Duke Energy will be the “clear, immediate winners” as energy traders scramble for their survival on Wall Street, but embattled Williams and Dynegy will be a “jumpball because of the liquidity trap they have gotten themselves into,” says energy industry analyst John Olson of Houston-based Sanders Morris Harris.