Them

The New York Board of Trade (NYBOT) and the New York MercantileExchange (Nymex) have announced a settlement of the litigationbetween them relating to the suspension of a clearing member, Klein& Co. Futures, Inc., from NYBOT and its clearinghouse, the NewYork Clearing Corporation (NYCC).

CNG Transmission is offering customers free title transfertracking (TTT), providing them with two accounting locations tonominate and transfer titles on the CNGT system. “We will offerfree TTT at least until Oct. 1, 2000,” said Vickie Coen, customeranalyst. “At that time we will evaluate the service to determinewhether the company will charge for the service at a rate of 84cents per transaction.”

CNG Transmission is offering shippers free title transfertracking (TTT), providing them with two accounting locations tonominate and transfer titles on the CNGT system.

Denver-based Western Gas Resources earlier this week exercisedits long-standing option to buy 170 miles of proprietary gaspipelines in the Sacramento Basin and promptly sold the network oftwo- and 10-inch-diameter pipes to California-based merchant powerplant developer Calpine Corp. No dollar figures on the deals willbe released, and both companies are expected to make formalannouncements later this week or early next week, according toWestern Gas and Calpine.

If Y2K doesn’t bring an end to the gas and power industries, itcertainly won’t do anything to stop them from hooking up. Judgingby what’s happened so far, gas and power will never stand alooffrom one another again.

FERC staff has begun sending out letters to pipelines askingthem to explain how their proposed projects will square with thenew policy statement that favors incremental pricing. NorthernBorder Pipeline Co. — the first pipe to receive such a letter —made clear its disdain for the pricing policy in its response.

Once again the bulls were on a rampage Tuesday, and sourcesexpected them to still be running today. Increases of about a dimeor more at all points dominated the cash market for the secondstraight day. Prices got support from a cold snap in thenortheastern U.S. and eastern Canada, hot weather from Californiathrough the Southwest into Texas and Louisiana and parts of theMidcontinent, and continued screen strength—both in natural gasand crude oil futures. Gas gained just over a dime, and crude rosejust over a dollar to finish above $22/bbl.

FERC staff has begun sending out letters to pipelines askingthem to explain how their proposed projects will square with thenew policy statement that favors incremental pricing. NorthernBorder Pipeline Co. – the first pipe to receive a letter – madeclear its disdain for the pricing policy in its response last week.

While wellhead prices will be 40% stronger than last winter,high levels of storage and gas imports will keep them under $3 forthe better part of the heating season, the Energy InformationAdministration said in its October Short-Term Energy Outlook. Thereport was published last week.