Season

After stumbling last heating season Canadian natural-gas exports show signs of getting back on their feet, but when they will resume growing — or even whether they can — remains an open question. For the first time since the onset of energy deregulation and free trade, exports fell in the opening half of the current natural-gas contract year ending Oct. 31, according to records of the National Energy Board.

After stumbling last heating season Canadian natural-gas exports show signs of getting back on their feet, but when they will resume growing — or even whether they can — remains an open question. For the first time since the onset of energy deregulation and free trade, exports fell in the opening half of the current natural-gas contract year ending Oct. 31, according to records of the National Energy Board.

Aquila has scheduled three informational meetings on the open season that began earlier this month for its recently purchased Red Lake Gas Storage facility in Mohave County, AZ (see Daily GPI, Feb. 7). They will be held Feb. 27 in Los Angeles, Feb. 28 in Phoenix and March 1 in Houston. Reservations can be made via e-mail to Barbara Schulle (bschulle@utilicorp.com) or by phoning (713) 336-7493. For more information, call Mark D. Cook at (816) 527-1369 or visit the http://www.aquila.com/redlake web site.

Honeoye Storage Corp. is inviting offers for firm gas storage service from its storage facility in Ontario County, NY for the coming storage season. This storage service is being offered at market-based rates and interested parties should submit offers through Feb. 22 for service beginning on April 1, 2002 and ending on March 31, 2003.

Unseasonably warm weather reduced energy demand in the Northeast, lowered prices and cut into KeySpan’s fourth quarter earnings. The company reported slightly lower earnings, excluding special items, of $99 million, or 71 cents per share, down from $100.9 million, or 75 cents per share, a year earlier. Wall Street analysts had expected earnings of 73-78 cents per share, with a consensus estimate of 75 cents. Including special items, earnings fell to $34.4 million, or 25 cents per share, from $58.9 million, or 44 cents per share.

Unseasonably warm weather reduced energy demand in the Northeast, lowered prices and cut into KeySpan’s fourth quarter earnings. The company reported slightly lower earnings, excluding special items, of $99 million, or 71 cents per share, down from $100.9 million, or 75 cents per share, a year earlier. Wall Street analysts had expected earnings of 73-78 cents per share, with a consensus estimate of 75 cents. Including special items, earnings fell to $34.4 million, or 25 cents per share, from $58.9 million, or 44 cents per share.

North American spot gas prices lost another 20-40 cents Thursday in their lengthy price slide this week as mild weather and packed storage fields provided the market with no place to put gas supply. Prices in every region, including the Rockies, fell substantially as the Nymex gas and crude oil futures screens took an early beating, leaving cash traders no reason to push spot prices higher.

As the winter season approaches, Cascade Natural Gas Corp. Friday reported that it has received approval from the Washington Utilities and Transportation Commission (WUTC) for its purchased gas cost adjustment, as well as its amortization of under-recovered gas cost from last winter’s filings.

National Fuel is holding an open season for up to 1 Bcf winter firm storage and transportation services (Nov. 1-Feb. 28). The service includes maximum injection of 10,000-30,000 Dth/d and a maximum withdrawal of 33,333 Dth/d. Receipt and delivery points include Columbia (Independence), Dominion (Ellisburg), Tennessee (Rose Lake), TransCanada (Niagara), Transco (Leidy) and Transco (Wharton). Bid sheets are available at National Fuel’s web site or by calling (716) 857-7740. For details call Jim Zernentsch (716) 857-7509.