The proposal of Columbia Gas Transmission and Columbia GulfTransmission calling for FERC to allow the negotiation of terms andconditions of pipeline services would provide a “usefulimplementation tool for enactment of a generic program,” theAmerican Gas Association says.
Articles from Test
July Fails to Test Resistance; Slips Lower
The July Nymex contract looked poised to build on gainsyesterday by opening strong then immediately testing resistance inthe $2.20-21 area. However, for the second day in a row resistanceheld, leading to profit taking that sent July spiraling down tosettle at $2.156, a 3.5-cent loss for the day.
June Futures Reach Bottom of Trading Range
The June Nymex contract lost another 4.4 cents to $2.134 Monday,as traders continued to test just how long the spot month can holdabove major technical support at $2.11. June reached a low of$2.125 yesterday before last minute buying pushed the contract toits higher settle.
June Futures Fend Off Another Test of Technical Support
The June Nymex contract inched 2.4 cents higher to $2.159 onThursday, as traders entered a slight buying mode following the 8.0cent decline June turned in the previous session. “Today was a bigday in that the contract held technical support at $2.11,” ananalyst told GPI. Total estimated volume came in at 47,753contracts.
Viking to Pursue Its Own Pipeline Expansion
Viking Gas Transmission formally dropped out of the VikingVoyageur partnership earlier this week and now plans to test themarket for a separate, smaller expansion of its existing system,VGT President Greg Palmer, a former spokesman for Voyageur, saidyesterday. VGT intends to hold an open season to collect customerinterest in the project this summer.
FERC: Tetco Expansion Fails Market Test
While some see FERC’s decision in the Granite State GasTransmission case last week as a major shift in its certificatepolicy, others believe the Commission’s dismissal of Texas EasternTransmission’s (Tetco) application to expand the capacity of itsLebanon Lateral reaffirmed that very policy.