Sources

Increases in domestic production, new pipeline infrastructure and the shifting sources of imports will create a “bonanza” for natural gas buyers in the Northeast, according to Evergreen, CO-based Bentek Energy, which just released the third part of its three-part “Catch the Wave” report (see Daily GPI, Jan. 14; Nov. 14, 2008) documenting changes to the region that has traditionally been the highest-priced North American market.

As sources expected, prices were mostly higher Friday in the East, where frigid weather would be occupying northern market areas during the weekend and more moderate but still cold conditions were expected in the Midcontinent and South. Also as expected, a generally moderate West outside the mountain areas saw mostly softer quotes.

As sources had predicted, the cash market fell at most points Friday, pressured lower by warming trends in the Midwest, Midcontinent and South and by the January futures drop of 8.8 cents a day earlier. The usual weekend decline of industrial demand also was a factor in the overall softness.

NRG Energy, which launched an $11 billion bid to take over Calpine Corp., could face some competition from unlikely sources, including possible back-door suitors Dynegy Corp. and Reliant Energy, energy analysts said.

After its board vetted potential counter offers from other sources and found nothing better, Puget Sound Energy (PSE) Dec. 17 filed for approval of its $7.4 billion merger with a private equity consortium with the Washington Utilities and Transportation Commission. The merger with North American infrastructure investors led by a New York City unit of Australian-based Macquarie Infrastructure Partners (MIP) was announced Oct. 26.

After its board vetted potential counter offers from other sources and found nothing better, Puget Sound Energy (PSE) Monday filed for approval of its $7.4 billion merger with a private equity consortium with the Washington Utilities and Transportation Commission. The merger with North American infrastructure investors led by a New York City unit of Australian-based Macquarie Infrastructure Partners (MIP) was announced Oct. 26.

The federal Ninth Circuit Court of Appeals ruled Aug. 20 that government motor vehicle fleets need to be powered by clean energy sources, such as natural gas and alternative fuels. The rules apply to fleets of 15 vehicles or more, the appellate court said.

FERC has rejected Gulf South Pipeline’s proposal to incorporate revised natural gas quality specifications into its tariff. The agency, however, left open the door for Gulf South to refile a “properly supported” proposal at a later date.

FERC Commissioner Philip Moeller said Tuesday he is generally supportive of opening access to new sources of natural gas and believes building energy infrastructure should be a national priority.