Shifted

May natural gas futures drifted lower Friday as traders noted little in the way of buying as prices completed the sixth day in a row in the loss column and traders shifted their interest to the petroleum complex. At the end of the day May had fallen 1.6 cents to $4.041 and June shed 1.9 cents to $4.107. May crude oil rocketed higher by $2.49 to $112.79/bbl.

The focus of public speculation on the cause of Pacific Gas and Electric Co.’s (PG&E) Sept. 9 transmission pipeline explosion in San Bruno, CA, shifted last Friday inside the pipe to the possibility of corrosion-causing microbes that can go undetected within older gas pipelines. And on Monday news reports of PG&E’s leak history caused the utility to issue a statement defending the thoroughness of its transmission pipeline maintenance and safety checks.

The Alberta government shifted to the right in a provincial cabinet shuffle last Wednesday by Premier Ed Stelmach, raising hopes among natural gas producers that they will win a two-year crusade to reverse royalty increases.

The Alberta government shifted to the right in a provincial cabinet shuffle Wednesday by Premier Ed Stelmach, raising hopes among natural gas producers that they will win a two-year crusade to reverse royalty increases.

U.S. industrial natural gas demand shifted last July from growth of 0.4 Bcf/d year on year (y/y) to a decline in December of 2 Bcf/d y/y, which, holding all else constant, loosened supply and demand balances by 2.4 Bcf/d and drastically changed the price environment, Barclays Capital analysts reported last week.

U.S. industrial natural gas demand shifted last July from growth of 0.4 Bcf/d year on year (y/y) to a decline in December of 2 Bcf/d y/y, which, holding all else constant, loosened supply and demand balances by 2.4 Bcf/d and drastically changed the price environment, Barclays Capital analysts said this week.

The gas supply outlook has shifted from a thirst for liquefied natural gas (LNG) imports to reliance on maturing and emerging shale plays in Texas, Louisiana, Arkansas and Pennsylvania; new pipelines and capacity expansions reconfigure continental gas flows; and increasing gas-fired power generation elevates summer demand peaks. Gas storage developers are in the midst of it all.

The gas supply outlook has shifted from a thirst for liquefied natural gas (LNG) imports to reliance on maturing and emerging shale plays in Texas, Louisiana, Arkansas and Pennsylvania; new pipelines and capacity expansions reconfigure continental gas flows; and increasing gas-fired power generation elevates summer demand peaks. Gas storage developers are in the midst of it all.

Florida Gas Transmission (FGT) ended Saturday an Overage Alert Day that had been in effect for the previous three days. On Sunday the pipeline shifted gears and cautioned market-area customers that with rainy weather forecasted in Florida and FGT’s linepack being “very high,” they should be alert for the possibility of an Underage Alert Day being issued.