Supporters

Supporters of the long awaited C$7 billion Mackenzie Delta natural gas pipeline may be close to cementing agreements with the Canadian government and aboriginal communities, which would lead to key public hearings in 2006.

Before a packed chamber split about equally between opponents and supporters, the Long Beach, CA, City Council just past midnight Wednesday morning voted 5-4 to continue discussions with proponents of a liquefied natural gas (LNG) receiving terminal in the city’s harbor. As a result, the city municipal energy department will resume talks that were cut off more than a year ago for a pipeline and LNG supplies from the proposed plant for the city’s natural gas distribution utility.

Before a packed chamber split about equally between opponents and supporters, the Long Beach, CA, City Council just past midnight Wednesday morning voted 5-4 to continue discussions with proponents of a liquefied natural gas (LNG) receiving terminal in the city’s harbor. As a result, the city municipal energy department will resume talks that were cut off more than a year ago for a pipeline and LNG supplies from the proposed plant for the city’s natural gas distribution utility.

Amid the bullish combination of cold temperatures in the short-term outlook and warm temperatures in the long-lead forecast, natural gas futures rallied to their highest weekly close in five months Friday on continued short-covering by large speculative traders. The April contract received the biggest buying boost, trading 15.2 cents higher to close at $3.076. In doing so, it moved through resistance clustered at early-week highs in the $3.03-04 area.