Similar

Rep. Lee Terry (R-NE) has re-introduced legislation aimed at fostering meaningful expansion of the nation’s capacity to receive liquefied natural gas (LNG). The bill is “exactly similar” to the one that the House lawmaker introduced last May (see Daily GPI, May 21, 2004).

Reflecting similar sentiments expressed around Wall Street, a Calpine Corp. executive indicated last Tuesday that declining wholesale natural gas prices are not likely to happen anytime soon, and in the longer run, imports of liquefied natural gas (LNG) and eventual Alaskan supplies won’t necessarily dampen prices as many industry observers have been predicting.

Reflecting similar sentiments expressed around Wall Street, a Calpine Corp. executive indicated Tuesday that declining wholesale natural gas prices are not likely to happen anytime soon, and in the longer run, imports of liquefied natural gas (LNG) and eventual Alaskan supplies won’t necessarily dampen prices as many industry observers have been predicting.

FERC staff said Friday that an incorrect e-mail attachment sent by a “clerk” at Dominion Transmission to weekly storage surveyors at the Energy Information Administration (EIA) led to the erroneous storage report last month and subsequent jump in futures prices. FERC staff estimates the error and price run-up cost U.S. consumers $200 million to $1 billion.

Getting a slightly bullish boost from the Energy Information Administration’s (EIA) weekly gas storage report, July natural gas futures on Thursday closed up 7 cents at $6.485. The EIA reported that 85 Bcf of gas was injected into underground storage for the week ended June 18.

In a move strikingly similar to Monday’s price action, the natural gas futures market rebounded modestly from early lows Tuesday. And while the session-long march higher was unable to overcome the dramatic early-session price weakness, it serves as additional evidence natural gas has not yet seen its winter high.

Pacific Gas & Electric did not extend a high-inventory OFO beyond Friday. However, the California market continued to be impacted by a similar constraint as Southern California Gas declared an OFO for Saturday. The utility would automatically reduce volumes for any shipper exceeding a 10% tolerance on deliveries into the system, a SoCalGas spokeswoman said.

Following on the heels of similar news from ExxonMobil late last week, Qatar Shell GTL Ltd (Shell), a company of the Royal Dutch/Shell Group, said Monday that it has entered an agreement with Qatar Petroleum for the construction of the world’s largest Gas to Liquids (GTL) plant in Ras Laffan, Qatar.

Marking the latest in a series of similar settlements recently reached between power companies and FERC staff, Idaho Power Co. has agreed to pay $83,373 under a proposed agreement filed with FERC trial staff on Thursday. The deal is aimed at resolving allegations that Idaho Power attempted to manipulate the California energy market in 2000-2001.