storage

Look for lower natural gas prices in the third quarter compared to the second due to high storage inventories, strong production in the Rockies and Texas and liquefied natural gas (LNG) supplies, which tend to peak in the summer months, said Canaccord Adams in a note last week.

Look for lower natural gas prices in the third quarter compared to the second due to high storage inventories, strong production in the Rockies and Texas and liquefied natural gas (LNG) supplies, which tend to peak in the summer months, said Canaccord Adams in a Wednesday note.

National Fuel Gas Supply Corp., the principal pipeline and storage subsidiary of National Fuel Gas Co., said its recent nonbinding open season (see Daily GPI, March 27) to offer 500 MMcf/d of capacity or more to Leidy, PA, and/or the proposed Empire and Millennium interconnects received “robust market interest.” Bids for transportation service totaled nearly 1 Bcf, the company said. Bids included proposed transportation services from gas supply sources in the Appalachian region of western Pennsylvania, the Rocky Mountain basin via Rockies Express at Clarington, OH, and the Market Hub at Leidy. National Fuel said it is assessing what facilities would be required to accommodate the services requested and expects to begin discussions with those who requested service.

Questar moved up the scheduled resumption of normal operations at its Clay Basin storage facility by one day to the start of the April 18 gas day. The current Clay Basin shut-in previously had been expected to last until April 19 (see Daily GPI, April 2).

Despite price weakness at the end of 2006, cold weather in early 2007 depleted gas storage levels more than expected, and Schlumberger Ltd. CEO Andrew Gould told analysts last week that the company believes “fundamentals are clearly in place for reinforced natural gas activity later this year.”

Despite price weakness at the end of 2006, cold weather in early 2007 depleted gas storage levels more than expected, and Schlumberger Ltd. CEO Andrew Gould told analysts Monday that the company believes “fundamentals are clearly in place for reinforced natural gas activity later this year.”

The proliferation of midstream master limited partnerships (MLP) and their pursuit of gathering, processing, pipeline and storage have driven asset valuations to exceptional heights and made compelling deals harder to find.

The proliferation of midstream master limited partnerships (MLP) and their pursuit of gathering, processing, pipeline and storage have driven asset valuations to exceptional heights and made compelling deals harder to find.

Northwest said it will use storage gas from its Jackson Prairie facility to mitigate any impact to customers as a result of maintenance scheduled for Tuesday and Wednesday at Burley Compressor Station. Northbound flow capacity at Burley will remain at the design capacity of 539,000 Dth/d during this work, Northewest said.