Speeding

Chevron Corp.’s Angola LNG (liquefied natural gas) liquefaction project in southern Africa is speeding toward first cargo some time during the second quarter. While capacity contracting has long been under way on the company’s Gorgon and Wheatstone LNG projects in Australia, not so with Angola LNG, which was conceived years ago as an LNG supplier to the United States.

Legislation has been introduced in the Senate and House aimed at speeding up permitting for oil and natural gas operators in the Gulf of Mexico who have complied with the new safety and inspection regulations issued by the Interior Department.

FERC’s proposal to loosen the rules for granting market-based rates for new natural gas storage projects, with the goal of speeding an increase in storage capacity and thereby mitigating market peaks and valleys and consequently price volatility, has brought a storm of comments from interested parties on how the rules should be written.

After tapping on the brakes a few times Wednesday, theresurgence in November prices had its foot back on the acceleratorThursday. While not quite pedal-to-the-metal as in Tuesday’s gainsthat often hit 30 cents or more, double-digit increases againdominated the cash market.