Technical

Caught between longer-term bearish fundamental market conditions and shorter-term bullish technical factors, the natural gas futures market chopped sideways to higher in relatively light trading activity Tuesday. And while neither side could claim the day as a victory, the market finished on a positive note, with the June contract ekeing out a 3-cent advance to close at $6.476.

Canada’s National Energy Board (NEB) said Tuesday that it has come up with a new schedule for proceeding on the technical review of the C$7 billion (US$5.6 billion) Mackenzie Gas pipeline project, which would bring gas from three onshore gas fields in the Northwest Territories to a connection with TransCanada’s Alberta System (Nova). Regulators called a temporary halt in the proceeding in February and directed sponsors to file additional information.

Canada’s National Energy Board (NEB) said Tuesday that it has come up with a new schedule for proceeding on the technical review of the C$7 billion (US$5.6 billion) Mackenzie Gas pipeline project, which would bring gas from three onshore gas fields in the Northwest Territories to a connection with TransCanada’s Alberta System (Nova). Regulators called a temporary halt in the proceeding in February and directed sponsors to file additional information (see Daily GPI, Feb. 28).

FERC has set Dec. 3 for a technical conference in Anchorage, AK on its proposed regulations governing the conduct of open seasons for the Alaska Natural Gas Transportation System. The Commission’s action comes after President Bush signed into law last month a bill that provides for an $18 billion federal loan guarantee for the construction of the remaining 1,600 miles of the project. FERC expects to issue a proposed rule by about Nov. 18. The public would have until Dec. 17 to comment on FERC’s notice of proposed rulemaking. The law requires FERC to complete the regulations by Feb. 10, 2005.

FERC has set Dec. 3 for a technical conference in Anchorage, AK on its proposed regulations governing the conduct of open seasons for the Alaska Natural Gas Transportation System. The Commission’s action comes after President Bush signed into law last month a bill that provides for an $18 billion federal loan guarantee for the construction of the remaining 1,600 miles of the project. FERC expects to issue a proposed rule by about Nov. 18. The public would have until Dec. 17 to comment on FERC’s notice of proposed rulemaking. The law requires FERC to complete the regulations by Feb. 10, 2005.

FERC last Tuesday said it would preserve for the next owner a number of environmental and technical reports related to the stalled storage project of Red Lake Gas Storage LP in Mohave County, AZ.

FERC on Tuesday said it would preserve for the next owner a number of environmental and technical reports related to the stalled storage project of Red Lake Gas Storage LP in Mohave County, AZ.

FERC on Tuesday said it would preserve for the next owner a number of environmental and technical reports related to the stalled storage project of Red Lake Gas Storage LP in Mohave County, AZ.

Flying in the face of fundamental and technical indicators, November natural gas futures ventured higher Tuesday to close at $7.123, up 31.7 cents on the day. December futures, which will soon take over the front month title, climbed 25 cents to settle at $8.315.