Term

Producers and analysts sent up red flags last week at GasMart/Power 2001 in Tampa, FL, about future gas supply potential north of the border. Currently known resources appear to be inadequate and at the current rate of production would be depleted in little more than a decade, they said. Furthermore, the common belief that new sources of supply will be adequate to replace rapidly depleting reserves may be mistaken, the experts said.

Union Gas launched an open season for up to 6.5 Bcf of long-term working storage capacity and said it was willing to consider expanding if market demand is sufficient. The storage space available in the open season is for periods of three years or greater with injections beginning in April 2002. Bids are due July 31 and the capacity will be awarded by Aug. 31.

Producers and analysts sent up red flags yesterday at GasMart/Power 2001 in Tampa, FL, about future gas supply potential north of the border. Currently known resources appear to be inadequate and at the current rate of production would be depleted in little more than a decade. Furthermore, the common belief that new sources of supply will be adequate to replace rapidly depleting reserves may be mistaken, the experts said.

Union Gas launched an open season for up to 6.5 Bcf of long-term working storage capacity and said it was willing to consider expanding if market demand is sufficient. The storage space available in the open season is for periods of three years or greater with injections beginning in April 2002. Bids are due July 31 and the capacity will be awarded by Aug. 31.

The general market continued its downslide Wednesday, and traders saw very little chance of a near-term rebound, citing further screen softness, a storage injection report that significantly exceeded all prior expectations, and expectations that the out-of-season blasts of winter hitting much of the U.S. this week are about to go away.

Spurred by a negative short-term technical outlook and coming onthe heels of bearish storage data, natural gas futures retracedlower Wednesday as traders took back gains notched during Tuesday’sprice rally. At the closing bell, April was off 24.6 cents tofinish at $5.041, 2.2 cents below Monday’s close.

Enron Broadband Services Content Systems LLC has signed along-term agreement with EBWorld.com and Into Networks Inc. todeliver games on demand, the first application to launch as part ofa strategic alliance between the companies. The service isscheduled to begin June 1. EBWorld.com is a subsidiary ofElectronic Boutique Holdings Corp. of West Chester, PA, whichoperates 740 stories in 46 states and around the world. IntoNetworks, headquartered in Cambridge, MA, is licensing itstechnology to Electronics Boutique, and Enron will providestrategic, financial and operational services to Into to offerbroadband customers secure access to software on a rental basis.The alliance is attempting to optimize and increase delivery ofstreaming applications over broadband connections using software ondemand technology.

UtiliCorp United began its quest to shore-up enough power supplycontracts to provide for the long-term needs of its 425,000customers in Missouri, Kansas and Colorado. The company is seekingto secure 1,250 MW of annual capacity for up to 15 years to helpmeet the demand from its customers.

Allegheny Technologies Inc. and DukeSolutions signed acomprehensive energy alliance agreement yesterday for long-termenergy supply and demand management. Under terms of the contract,DukeSolutions will help ATI implement company-wide initiatives toreduce domestic energy costs in 12 states.