Texas

As a Texas marketer had suspected, Tuesday’s decline of 15.8 cents by March futures was sufficient to take cash prices lower Wednesday, abetted by moderate warming trends in some areas. Although he thought some of the areas experiencing the most severe winter weather might be able to keep firming, it turned out that double-digit drops occurred across the board.

As a Texas marketer had suspected, Tuesday’s decline of 15.8 cents by March futures was sufficient to take cash prices lower Wednesday, abetted by moderate warming trends in some areas. Although he thought some of the areas experiencing the most severe winter weather might be able to keep firming, it turned out that double-digit drops occurred across the board.

Martin Midstream Partners LP said Tuesday its Waskom Gas Processing Co. (WGPC) joint venture has agreed to buy the East Texas natural gas gathering and processing assets of Crosstex Energy LP and Crosstex Energy Inc. for $40 million.

Effective Thursday affiliated pipelines Texas Eastern, Algonquin and Maritimes & Northeast are lifting restrictions on creation of due-pipe and due-shipper payback imbalances.

MRT said it would end Tuesday the System Protection Warning it had implemented on Thanksgiving Day.

Who would have guessed? With weather fundamentals mostly moderate outside the Texas-desert Southwest area and starting to diminish in interior California, and futures guidance remaining quite negative after a 15.6-cent loss by the prompt-month contract a day earlier, cash prices sank again at nearly all points Wednesday.

Affiliates Algonquin and Texas Eastern both reported “limited operational flexibility to manage imbalances” Thursday, and along with a request that shippers and point operators adhere to scheduled volumes, they said effective Friday no nominations for due-pipe imbalance makeups or that create due-shipper imbalances will be allowed. This restriction will remain in effect through Monday, the pipelines said.

Freeport LNG has applied at FERC to construct and operate a natural gas liquids (NGL) extraction system at the Quintana Island liquefied natural gas (LNG) regasification terminal in Texas. Adding the capability to extract NGLs would broaden the terminal’s options among global LNG supplies and improve the pipeline-readiness of regasified LNG, Freeport LNG said.

Freeport LNG has applied at FERC to construct and operate a natural gas liquids (NGL) extraction system at the Quintana Island liquefied natural gas (LNG) regasification terminal in Texas.