Eastern Canada is rolling out a welcome mat for new liquefied natural gas (LNG) import terminals, with two projects taking strides towards construction on top of one being built in New Brunswick.
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Articles from Towards
TS Wilma Fear Pushes Futures Back Near $14
Just when you thought it was safe to close the books on the 2005 hurricane season and turn your attention towards the winter heating season, Tropical Storm Wilma, the record-tying twenty-first storm of the season has formed southeast of Grand Cayman. With Wilma’s path still very uncertain, the natural gas futures market spooked higher in Nymex’s Sunday Access session and then retained those gains through Monday’s regular session, ultimately settling at $13.887, 66.8 cents higher than last Friday’s close.
Futures Test Higher Before Falling Back Ahead of Possibly Bearish Storage Report
May natural gas futures on Wednesday made another run on resistance levels before afternoon selling drove the contract back down towards $7, a number that has acted as a magnet over the past seven days of trading.
Futures Continue to Climb as Storage Report Looms
Heading towards expiration at the end of trading Thursday, March natural gas futures continued to blaze a trail higher for the second consecutive session. The prompt month soared 20.8 cents to settle at $6.311, while April natural gas closed at $6.42, up 19.9 cents.
FERC Issues Rules for Allocating Capacity on Alaska Gas Pipe Projects
FERC last Wednesday took a major step towards the realization of an Alaskan natural gas pipeline by issuing a final rule that lays out all the steps that potential sponsors will have to follow when allocating transportation capacity on a long-line system stretching from Alaska’s North Slope to markets in the Lower 48 states.
Rally Halted as Futures Shed 17.7 Cents
Stopping the rally from last week at least temporarily, August natural gas futures on its way towards expiration dropped 17.7 cents on Monday to close at $5.957. The drop almost erased last Thursday’s 22.1-cent rally, which was sparked by the first bullish natural gas storage report in many weeks (see Daily GPI, July 23).
Dropping 5 Cents, Futures Put in a Lackluster Friday
With no support from crude or any other indicators on Friday, the Nymex May natural gas futures contract heading towards expiry found nowhere to go but down. After topping out at $5.610 and bottoming out at $5.555, the prompt month closed the day at $5.571, down 5.2 cents on the day.
Transportation Notes
East Tennessee Natural Gas expected to complete final steps towards placement of the Patriot Extension facilities into service Thursday afternoon and thus was accepting nominations for Friday gas flow on Patriot. The project’s service start-up was delayed from last week’s projection of this past Tuesday (see Daily GPI, Nov. 14).
Williams Finalizes $800 Million Credit Facility
Continuing on towards the goal of restoring its balance sheet to health, the Williams Companies (TWC) said last week that it is finalizing a new $800 million credit facility primarily for the purpose of issuing letters of credit. The Tulsa-based company said Friday that it had completed the agreement ahead of schedule.
Williams to Finalize $800 Million Credit Facility
Continuing on towards the goal of restoring its balance sheet to health, the Williams Companies (TWC) said Wednesday that it is finalizing a new $800 million credit facility primarily for the purpose of issuing letters of credit. The Tulsa-based company said it expects to complete the credit agreement by mid-June.