Unveils

Just as the natural gas industry unveils a smorgasbord of significant supply growth potential, the power sector is cutting gas from its diet, according to an analysis by Barclays Capital.

Forty companies will be awaiting the news early Wednesday when the Minerals Management Service (MMS) unveils the winning bids in its Western Gulf of Mexico (GOM) Lease Sale 204. There were 358 bids on 282 tracks up for lease.

TransCanada Corp. said last week that it is developing a $200 million natural gas storage facility near Edson, AB. Under the plan, the facility will have a capacity of approximately 50 Bcf and will connect to TransCanada’s Alberta System.

TransCanada Corp. said Wednesday that it is developing a $200 million natural gas storage facility near Edson, AB. Under the plan, the facility will have a capacity of approximately 50 Bcf and will connect to TransCanada’s Alberta System.

Following a rule enforcement review of the New York Mercantile Exchange’s practices by the Commodity Futures Trading Commission’s Division of Market Oversight (DMO), the Commission found that Nymex performed most functions adequately. However, the review also highlighted areas that need to be enhanced.

Following a rule enforcement review of the New York Mercantile Exchange’s practices by the Commodity Futures Trading Commission’s Division of Market Oversight (DMO), the Commission found that Nymex performed most functions adequately. However, the review also highlighted areas that need to be enhanced.

Sempra Energy LNG announced its third proposed North American liquefied natural gas (LNG) import terminal Wednesday. The $600 million project would provide 1.5 Bcf/d of gas supply in Port Arthur, TX, and would feature three storage tanks each with a capacity of 160,000 cubic meters. It is the seventh proposed LNG terminal along the Gulf Coast of Texas.

Sempra Energy LNG announced its third proposed North American liquefied natural gas (LNG) import terminal Wednesday. The $600 million project would provide 1.5 Bcf/d of gas supply in Port Arthur, TX, and would feature three storage tanks each with a capacity of 160,000 cubic meters. It is the seventh proposed LNG terminal along the Gulf Coast of Texas.

Looking ahead to 2004, Kerr-McGee Corp. said total capital expenditures for the company next year are budgeted at $915 million with an additional $300 million for worldwide exploration expense. Oil and natural gas production volumes are projected to average 260,000 boe/d in 2004.