Tables

U.S. suppliers will turn the tables on Canadian rivals in the North American natural gas market by fully reversing current cross-border flows in the Niagara Falls trading region of Ontario and New York State, TransCanada Corp. predicts.

U.S. suppliers will turn the tables on Canadian rivals in the North American natural gas market by fully reversing current cross-border flows in the Niagara Falls trading region of Ontario and New York State, TransCanada Corp. predicts.

U.S. suppliers will turn the tables on Canadian rivals in the North American natural gas market by fully reversing current cross-border flows in the Niagara Falls trading region of Ontario and New York State, TransCanada Corp. predicts.

BP plc was the only one of the top five U.S. producers of natural gas that also showed up among the top five gas marketers in 2010, according to an analysis by Natural Gas Intelligence (NGI) of federal filings that showed a 6% gain in trading in 2010 over 2009.

A report commissioned by the Energy Information Administration (EIA) estimates that technically recoverable shale natural gas resources in the United States are as much as 750 Tcf.

Southern Union Co. and hedge fund Sandell Asset Management Corp. last week struck an agreement that tables the sale of local distribution company (LDC) assets by Southern Union as well as the formation of a master limited partnership (MLP). Sandell, through affiliates, owns 8.6% of Southern Union and had been pressuring the company to bolster shareholder returns since late 2006.

Natural gas hedge fund Amaranth LLC, which exploded in a $6.4 billion debacle last year, has turned the tables and is suing J.P. Morgan Chase & Co. for $1 billion for the bank’s alleged role in the fund’s demise.

Natural gas hedge fund Amaranth LLC, which exploded in a $6.4 billion debacle last year, has turned the tables and is suing J.P. Morgan Chase & Co. for $1 billion for the bank’s alleged role in the fund’s demise.

With the industry is still awash in talk surrounding the Bank of Montreal’s (BMO) recent natural gas trading losses of C$350-450 million (US$313.70-403.33 million), the aftershocks and tremors continue to be felt by others in the industry (see related story), including Valhalla, NY-based brokerage Optionable Inc., which reportedly has been linked to the bank. Some market watchers in their analysis of the event have gone as far as calling the natural gas market a “Catch-22,” where you get in just as much trouble by hedging as not hedging.