weather

Despite price weakness at the end of 2006, cold weather in early 2007 depleted gas storage levels more than expected, and Schlumberger Ltd. CEO Andrew Gould told analysts Monday that the company believes “fundamentals are clearly in place for reinforced natural gas activity later this year.”

Citing high linepack and forecasts of warm weather, MRT said it will implement a System Protection Warning (SPW) at the start of Wednesday’s gas day. See the bulletin board for details of the SPW conditions.

EnCana Corp.’s management team said Thursday they were glad to see the turn to colder weather in the past month, a sign that some of the company’s natural gas-directed drilling soon will be back on track.

EnCana Corp.’s management team said last week the turn to colder weather in the past month is a sign that some of the company’s natural gas-directed drilling soon will be back on track.

Uncertain weather conditions have fogged the outlook of the North American natural gas market, but supply and demand fundamentals continue to support favorable pricing in the longer term, Standard & Poor’s Ratings Services (S&P) energy analysts said last weekly.

Northern Natural Gas is ending Friday a System Overrun Limitation for all market-area zones that began Tuesday.

Weather has created a haze on the direction of the North American natural gas market, but supply and demand fundamentals continue to support favorable pricing in the longer term, Standard & Poor’s Ratings Services (S&P) energy analysts said Wednesday.

The headline on The Weather Channel’s (TWC) next-day forecast posted Thursday afternoon said it all: “Bitter cold for much of the country.” As could be expected, prices continued to rise at most points Thursday, with only a few flat to nearly 20 cents lower Northeast citygates preventing all-points gains.

Citing the need to schedule operations to meet all customer requirements during cold weather, affiliated pipelines Trunkline and Panhandle Eastern issued similar Operational Alerts Wednesday that will be in effect until further notice. Panhandle said hourly deliveries under Rate Schedules EFT, EIT and SCT will be limited during any hour of the gas day to 1/16th of the total daily volume nominated at the delivery point. In addition, Rate Schedules FT and IT limit flow during any hour to 1/24th of the daily nominated volume. Trunkline applied the 1/16th limit to customers under Rate Schedule EFT and the 1/24th limit to customers under Rate Schedules FT, SST, QNT and IT.