While near-month futures spiked to an all-time high Tuesday of $14.338 and the 2006 strip stands at $11.93, two analysts predict the gas market will scale back down by about 33% next year to range between $7.15 and $8/Mcf after the hurricane recovery is complete. They said prices should remain just above $6 over the long term.
Stands
Articles from Stands
FERC Stands By Interim Market Power Screens
FERC on Thursday issued an order in which the federal agency affirmed interim market power screens the Commission adopted in April, but FERC also sought to clarify implementation issues regarding the screens and the associated market-based rates process.
Storage Non-Event Allows Bulls to Take Profit
Following the announcement of a 72 Bcf storage injection, the June natural gas futures contract jumped 9 cents from $6.27 to trade at $6.36 as of 10:39 a.m, revisiting the high set on Tuesday. However, the contract then worked lower for the entire afternoon, trading within the $6.19-6.29 range, before settling at $6.219, down 9.1 cents on the day.
Rockies/San Juan Rally Stands Out Amid General Flatness
Much like the week started, mostly flat numbers with a mild tendency to the upside were predominant in most market areas Wednesday. No longer constrained on injections by a partial-day outage of Questar’s Clay Basin storage facility (see Daily GPI, April 14), Rockies/San Juan pricing rebounded from Tuesday’s weakness but in most cases failed to regain as much as it had lost.
AEP: Spike in Natural Gas Prices Accrues to Benefit of Company
With its primarily coal-fired fleet of power plants, American Electric Power (AEP) stands to gain from the recent surge in natural gas prices, a top executive with the Ohio-based electric power company told an audience of investment professionals on Wednesday.
Aquila’s Divestiture Program Stands at $876 Million With UnitedNetworks Sale
Coming closer by the day to reaching its planned $1 billion asset divestiture goal, Aquila Inc. said Friday that its subsidiary UtiliCorp NZ Ltd. has completed the sale of its 70.2% interest in UnitedNetworks Ltd., a New Zealand-based energy company, to Vector Ltd. for approximately $503 million. Kansas City, MO-based Aquila said it expects to book a fourth quarter gain on the transaction estimated at approximately $28 million.
Aquila’s Divestiture Program Stands at $876 Million
Coming closer by the day to reaching its planned $1 billion asset divestiture goal, Aquila, Inc. said Friday that its subsidiary UtiliCorp NZ Ltd. has completed the sale of its 70.2% interest in UnitedNetworks Ltd., a New Zealand-based energy company, to Vector Ltd. for approximately $503 million. Earlier in the week, the Kansas City, MO-based company announced that it had completed its $265 million sale of its Southeast Texas and Mid-Continent natural gas pipeline systems and natural gas and gas liquids processing assets, as well as its 50% stake in the Oasis pipeline system, to Energy Transfer Co.
FERC Stands By Quarterly Power Marketing Report Requirements
FERC last Wednesday turned aside several requests for rehearing of a recent move by the Commission to replace a number of reporting filings currently made by the power industry with a quarterly report detailing power sales transactions, among other things. The federal agency is hoping that this new approach to reporting will make U.S. power markets more transparent and provide a better means to detect and discourage discriminatory practices.
CMS Exec Says Pipe Industry Stands Behind Integrity Rule
Testifying before the U.S. House Transportation and Infrastructure Subcommittee on Highways and Transit on behalf of the Interstate Natural Gas Association of America (INGAA), William J. Haener, executive vice president of natural gas for CMS Energy Corp., said that the interstate natural gas pipeline industry supports the development of a gas pipeline integrity rule but recommends longer time frames for inspection intervals. The congressional subcommittee is currently considering gas pipeline safety re-authorization legislation.
CMS Exec Says Pipe Industry Stands Behind Integrity Rule
Testifying before the U.S. House Transportation and Infrastructure Subcommittee on Highways and Transit on behalf of the Interstate Natural Gas Association of America (INGAA), William J. Haener, executive vice president of natural gas for CMS Energy Corp., said that the interstate natural gas pipeline industry supports the development of a gas pipeline integrity rule but recommends longer time frames for inspection intervals. The congressional subcommittee is currently considering gas pipeline safety re-authorization legislation.