Ultimately

Spectra Energy filed an application with FERC to add a fourth cavern at its Market Hub-Egan gas storage facility, which will ultimately increase working gas capacity by one-third to 32 Bcf, the company said last week. Expansion plans at the Acadia Parish, LA, facility include:

Spectra Energy filed an application with FERC to add a fourth cavern at its Market Hub-Egan gas storage facility, which will ultimately increase working gas capacity by one-third to 32 Bcf, the company said Wednesday.

The energy markets experienced a roller-coaster ride in 2006 as hurricane and weather forecasts ultimately ended up missing their marks, while electronic energy trading competition increased and the banks in the energy merchant sector continued to evolve from peripheral participants to core market players.

The energy markets experienced a roller-coaster ride in 2006 as hurricane and weather forecasts ultimately ended up missing their marks, while electronic energy trading competition increased and the banks in the energy merchant sector continued to evolve from peripheral participants to core market players.

Alaska could collect between $1 billion and $2.7 billion per year from a pipeline project to move North Slope gas to Alberta and ultimately the Lower 48, according to terms of a draft contract between Alaska and a trio of major producers, the state said.

Although prompt-month natural gas was able to put in a high of $7.070 during the regular session Friday, ultimately, June futures dropped lower in the afternoon. The contract hit a low of $6.750 before settling at $6.775, down 13.1 cents on the day, but 22 cents higher for the week.

Whether Weaver’s Cove LNG is ultimately built now “is up to the courts,” FERC Chairman Joseph Kelliher told a GasMart audience in Denver Thursday. FERC has done its job of approving the safety aspects of the project, and “we don’t pick and choose winners.”

LNG boosters were ultimately disheartened at the end of 2005 when the United States couldn’t seem to pull in all of the liquefied natural gas (LNG) it wanted. In fact, last year saw a decline in LNG imports from 2004. However, U.S. markets can look forward to more supply security in the coming years, according to Edinburgh, UK-based Wood Mackenzie.

After starting Wednesday’s regular session significantly higher than Tuesday’s close, March natural gas turned south just after 11 a.m. EST, ultimately testing psychological support at $7 before settling at $7.066, down 4.8 cents.