Significantly

A rapidly falling U.S. natural gas supply and increased power demand will lead to higher liquefied natural gas (LNG) imports over the next 10 years, according to a detailed analysis by Thomas R. Driscoll of Lehman Brothers.

Algonquin said colder than expected weather and high demand in its service territory had significantly degraded linepack, and it asked Tuesday that “all point operators voluntarily use means at their disposal to reduce takes to the greatest extent possible.” These restrictions were in effect Tuesday: no forward-haul AO/IT nominations accepted; no due-shipper gas available anywhere on the system; and a Critical Notice posted Feb. 10 requiring all customers to stay within a daily 2% due-pipeline imbalance still stood. However, that afternoon Algonquin cited improving weather and operating conditions in saying it would lift the Critical Notice Wednesday.

Mirant’s liquidity position heading into 2003 was significantly strengthened after the Atlanta-based company on Tuesday said that it has completed the sale of the company’s 33% economic interest in the Shajiao C power plant in China to China Resources Power Holding Co. Ltd. for $300 million.

AES Corp.’s ongoing liquidity crunch was significantly eased last week after the Arlington, VA-based power company said that it has successfully completed a $2.1 billion bank and bond refinancing and entered into agreements to sell two of its Australian generation businesses for $165 million.

Natural gas drilling fell significantly during the second quarter compared to the same period a year ago, according to a report from Washington, DC-based American Petroleum Institute (API).

Reliant Energy posted second quarter earnings down from last year, but significantly above analysts’ predictions, leading to a 50% pop in its common stock last Thursday following a dramatic two-day decline. Wholesale energy led the drop-off in earnings, bringing in $31 million in earnings before interest and taxes (EBIT), compared to $298 million EBIT in the second quarter of 2001.

Natural gas drilling fell significantly during the second quarter compared to the same period a year ago, according to a report from Washington, DC-based American Petroleum Institute (API).

Natural gas drilling fell significantly during the second quarter compared to the same period a year ago, according to a report from Washington, DC-based American Petroleum Institute (API).

Sen. Dianne Feinstein (D-CA) offered legislation last week to significantly broaden the Federal Energy Regulatory Commission’s authority to impose criminal and civil penalties for illegal activities in both natural gas and electricity markets. Sen. Jeff Bingaman (D-NM), chairman of the Senate and Natural Resources Committee, indicated House-Senate conferees may consider folding the Feinstein measure into the omnibus energy bill.