These

Who knows what you will find these days when developing a new pipeline route? BP and Shell Gas Transmission reported late last week that while surveying a route for the proposed Okeanos Gas Pipeline, the companies stumbled across the long-sought wreckage of the German World War II submarine U-166 at the bottom of the Gulf of Mexico. The U-166 was reportedly the only submarine sunk in the Gulf during the war.

Who knows what you will find these days when developing a new pipeline route? BP and Shell Gas Transmission reported late last week that while surveying a route for the proposed Okeanos Gas Pipeline, the companies stumbled across the long-sought wreckage of the German World War II submarine U-166 at the bottom of the Gulf of Mexico. The U-166 was reportedly the only submarine sunk in the Gulf during the war.

Alaska Gov. Tony Knowles’ State of the State address last week centered on what could become the legacy of his administration: an 1,800-mile natural gas pipeline to transport the state’s 36 Tcf to the marketplace. With energy prices and energy consumption bursting at the seams, Knowles is dedicating the remainder of his term, which expires in 2003, to the gas project.

The gas price projections of the ever-bullish analysts atRaymond James and Associates’ are going up in $1.25 incrementsthese days. The company boosted its Henry Hub price forecast to$5.75/Mcf for 2001 from $4.50 in reaction to what it called a”looming crisis” in the gas market. The increase puts RaymondJames’ forecast a whopping $1.62/Mcf more than the Wall Streetconsensus, according to First Call, but still about a quarter shyof the 12-month futures strip.

Energy companies are constrained in various ways on every level— exploration and development, generation and transmission,refineries and pipelines — and these barriers all point to theneed for the United States to shape an effective national energypolicy, said several speakers at the recent annual conference ofthe International Society of Energy Advocates.

Energy companies are constrained in various ways on every level— exploration and development, generation and transmission,refineries and pipelines — and these barriers all point to theneed for the United States to shape an effective national energypolicy, said several speakers at the recent annual conference ofthe International Society of Energy Advocates.

They might both be majors, but Chevron U.S.A. Production Co. andShell Exploration & Production Co. still think it’s wise to notgo it alone in the deep waters of the Gulf of Mexico. The companieshave agreed to share drilling rigs and jointly drill twoexploratory wells there this year.

After several years of battling, both in the courts and at FERC,the Commission this week finally approved a version of El PasoNatural Gas’ 1996 rate and capacity-turnback settlement that seemedto satisfy all parties involved. But to get to that point, El Pasowas forced to make some big concessions along the way to quellconcerns.

Commissioners Linda K. Breathitt and Vicky A. Bailey this weekjoined the club of those confused about when, if ever, FERC mightsettle the huge number of gas issues that have been on its platefor more than a year. Early in the week, Breathitt indicated itwould take up to six more months, while Bailey said yesterday theCommission would be delivering a package of gas decisions byChristmas.