Largely due to the previous day’s futures drop of nearly 31 cents, cash prices were down at most points Wednesday. The setbacks occurred despite gradually rising cooling load in the Northeast and in some parts of the South. Flat to about 40 cents higher quotes at several points, primarily in the Rockies, extended mixed price movement for another day.
Setbacks
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Transportation Notes
Citing logistics setbacks, Northern Natural Gas (NNG) said Sunday it is now anticipating return to service of platforms downstream of the Matagorda 758 platform on the Matagorda Offshore Pipeline System (MOPS) sometime during Wednesday’s gas day. NNG, the operator of MOPS, said this schedule is contingent on any other weather or logistics issues. Upon closure of the subsea valve at Matagorda 758, there will be three upstream platforms that must remain shut in until all repairs are completed, NNG said. Prior to the weekend it had anticipated the possible restoration of some service in the leak-affected segment of MOPS by the start of Tuesday’s gas day (see Daily GPI, March 6).
EEA: Pipe Expansion Steady Despite High Profile Setbacks
Tight financial markets, a lack of new gas demand, the power generation supply glut and state regulatory concerns have delayed or halted many of the proposed natural gas pipeline expansions announced in the past few years, but even with some high profile cutbacks, U.S. pipeline expansion overall has done “rather well,” according to a new report.
PG&E NEG Reorganizes, Notes Trade Probe But Plans to Keep Its Business
Despite recent earnings and regulatory setbacks focused on its energy trading operations, PG&E Corp.’s National Energy Group (NEG) has no intention of discontinuing its trading operations even with last Thursday’s announcement of cutbacks totaling $40 million annually in its merchant energy businesses. Trading is profitable and contributing to PG&E NEG’s positive cash flow, company officials indicated.
Pipeline Projects 89 Tcf of Reserves Offshore Nova Scotia
Cuts dealt to estimates of natural gas reserves offshore Nova Scotia this winter were only temporary setbacks to growth that still has potential to surprise even optimists, the National Energy Board has been assured. The region harbours up to 89 Tcf of gas or about twice as much as Alberta’s remaining established reserves, Maritimes & Northeast Pipeline said.
Pipeline Projects 89 Tcf of Reserves Offshore Nova Scotia
Cuts dealt to estimates of natural gas reserves offshore Nova Scotia this winter were only temporary setbacks to growth that still has potential to surprise even optimists, the National Energy Board has been assured. The region harbours up to 89 Tcf of gas or about twice as much as Alberta’s remaining established reserves, Maritimes & Northeast Pipeline said.
AGA: Gas Choice Up in Commercial, Industrial Sectors
Despite exorbitant price spikes in natural gas and deregulation setbacks in various markets around the country, a new study released by the American Gas Association (AGA) revealed that an increasing number of small businesses and other commercial customers are purchasing their natural gas supplies from someone other than the local utility, continuing the evolution of competition in the natural gas industry.
AGA: Gas Choice Up in Commercial, Industrial Sectors
Despite exorbitant price spikes in natural gas and deregulation setbacks in various markets around the country, a new study released by the American Gas Association (AGA) revealed that an increasing number of small businesses and other commercial customers are purchasing their natural gas supplies from someone other than the local utility, continuing the evolution of competition in the natural gas industry.
PG&E Looks Beyond Texas Setback
Despite continuing setbacks with Texas properties, PG&ECorp. officials last week expressed continued support for theirnational energy strategy, which when broken down is a largelyelectricity-based with key gas assets to enhance power assetvalues.
PG&E Looks Beyond Texas Setback
Despite continuing setbacks with Texas properties, PG&ECorp. officials this week expressed continued support for theirnational energy strategy, which when broken down is a largelyelectricity-based with key gas assets to enhance power assetvalues.