Situation

With a still relatively short history of natural gas use in the region, the Pacific Northwest has limited gas pipeline options, but the situation may change now that several liquefied natural gas (LNG) terminals have been proposed for Oregon’s Pacific Coast and Columbia River banks. Proponents outlined two of the major new pipeline proposals — Palomar and Pacific Connector — at the LDC Forum: Rockies & West conference in Los Angeles Tuesday and Wednesday.

U.K. gas traders had an unusual situation on their hands last week. The opening of the Langeled pipeline between Norway and the United Kingdom flooded the market with supplies and pushed prices below zero. That is, sellers were paying buyers up to 5 pence/therm for the privilege of “selling” their gas.

U.K. gas traders have an unusual situation on their hands. The opening of the Langeled pipeline between Norway and the United Kingdom last weekend has flooded the market with supplies and pushed prices below zero. That is, sellers are paying buyers up to 5 pence/therm for the privilege of “selling” their gas.

Northern Natural Gas declared a force majeure situation Thursday after detecting a leak upstream of the Plains Turbine on the Hobbs 26 suction line. The segment containing the leak must be isolated to facilitate repairs, which will require shutting in the Altura Gaines receipt point, Northern said. Upon isolating the affected area, eight other receipt points and four delivery points could be impacted and/or allocated, it added. See the bulletin board for further details.

Following the $1+ Wednesday-Thursday price advance in July natural gas futures, traders took a little break on Friday to assess the situation. Trading within a 22-cent range of $7.030-$7.250, July natural gas ended up closing out the week at $7.185, down 2.2 cents on the day, but $1.013 higher than the previous Friday’s close.

The energy industry has done all it can to prepare for possible hurricanes in the Gulf of Mexico this summer, but a “fragile people situation” remains, Chevron Corp. CEO Dave O’Reilly said Wednesday.

The energy industry has done all it can to prepare for possible hurricanes in the Gulf of Mexico this summer, but a “fragile people situation” remains, Chevron Corp. CEO Dave O’Reilly said Wednesday.

Northern Natural Gas reported late Thursday afternoon experiencing a force majeure situation at its Bushton (KS) Compressor Station that triggered an emergency shutdown of the station. Until the station resumes operation, Northern is unable to deliver gas into the Bushton Processing Plant.

Sen. Craig Thomas (R-WY) is working with several other lawmakers to put together a bill that seeks to improve the energy supply situation and lower both crude oil and natural gas prices.