Soon

As the mild winter continues to wind down, the natural gas industry — in looking for the next gas price indicators — will soon change focus to the summer cooling season and the Atlantic hurricane season.

It’s not everyday that someone suggests adding Peruvian LNG to your gas supply portfolio, but that’s what Dallas-based Hunt Oil may soon be recommending to some West Coast buyers. By 2009, the company and its partners, Spain’s Repsol and Korea’s SK Corp., hope to be bringing 4.4 million metric tons of LNG per year to the U.S. and Mexican west coasts from a liquefaction plant in Pampa Melchorita, Peru.

Global Energy Decisions Inc. (GED) said Thursday that high natural gas prices aren’t likely to be leaving anytime soon. In fact, the Boulder, CO-based company, which provides software, consultation and data solutions to the energy industry, said natural gas prices are likely to remain “stubbornly high” for the next few years.

Natural gas prices aren’t coming down anytime soon, at least according to the latest reports by two energy analysts last week. Raymond James last week suggested that the “fair value” for gas may run as high as $10/Mcf, while Stephen Smith Energy Associates pegged gas prices to end the year around $7.85/MMBtu.

Natural gas prices aren’t coming down anytime soon, at least according to the latest reports by two energy analysts last week. Raymond James last week suggested that the “fair value” for gas may run as high as $10/Mcf, while Stephen Smith Energy Associates pegged gas prices to end the year around $7.85/MMBtu.

Commissioner Joseph T. Kelliher is expected soon to be named chairman of the Federal Energy Regulatory Commission, sources have told NGI, replacing the current Chairman Pat Wood, whose term ends Thursday, June 30.

Chevron Corp.’s global head of exploration and production told reporters Wednesday that the company is attempting to complete its acquisition of Unocal Corp. as soon as August. However, the China National Offshore Oil Corp. (CNOOC) said late Wednesday that it is willing to offer US$67 in cash per Unocal share, or about US$18.5 billion, which represents a premium for Unocal’s shareholders of US$1.5 billion over the value of Chevron’s offer based on Chevron’s closing price on June 21.

Following last week’s split city council vote affirming negotiations, talks will get under way “soon” between proponents of a liquefied natural gas (LNG) receiving terminal in the Port of Long Beach, CA, and the city’s energy department, the COO for Mitsubishi’s U.S. Sound Energy Solutions (SES) subsidiary, Tom Giles, said during a brief interview Monday with NGI.

If Senate Republicans vote to abolish filibusters for judicial nominations, it will “upset any chance for an energy bill soon” to emerge from the chamber, said a noted Washington, DC journalist and author last Wednesday.