Weigh

Expectations of a troubled economy in 2009 shouldn’t weigh too heavily on the minds of gas producers if analysts at Barclays Capital are correct in their demand projections. Demand will be weak to be sure, but not as weak as some might fear, they say.

As local and state agencies weigh various aspects of pending proposals to develop liquefied natural gas (LNG) receiving terminals in Oregon, Gov. Ted Kulongoski’s administration reiterated the governor’s position in November for various state agency heads.

As local and state agencies weigh various aspects of pending proposals to develop liquefied natural gas (LNG) receiving terminals in Oregon, Gov. Ted Kulongoski’s administration reiterated the governor’s position last month for various state agency heads.

Prices dropped again at nearly all points Thursday as normal to above-normal temperatures in many areas and prior-day futures weakness continued to weigh on the cash market. As on Wednesday, though, there were a few flat to about a dime higher points that kept price movement direction from being universal.

The outlook for continued warm temperatures continued to weigh down natural gas futures on Monday as the January contract plummeted lower, recording a low of $7.040 before settling at $7.075, down 33.4 cents on the day.

The FERC is scheduled Wednesday to weigh in on a request by the Committee of Chief Risk Officers (CCRO) that would grant the committee’s Energy Data Hub and its participants the same “safe harbor” protection that is afforded to companies that currently submit pricing information to index publishers. The request, however, is not going unchallenged as a leading index publisher has fired back, questioning the validity of anointing an experimental hub concept with the same protections afforded to publishers who have adopted FERC’s standards on price indexes.

With FERC scheduled Wednesday to weigh in on the “safe harbor” protection request made by the Committee of Chief Risk Officers (CCRO) on behalf of its Energy Data Hub (see Daily GPI, June14), more parties are voicing their objections and support on the issue to the Commission. In addition to safe harbor protections for the Energy Data Hub and those that report to the hub, the CCRO requested assurances that FERC will not use the Energy Data Hub as a target for investigations by the Commission into transaction data by the participating companies.

Brokers of natural gas futures are on both sides of the debate when it comes to talk of FERC ordering owners and operators of gas storage facilities to electronically post their storage inventory levels from the prior day. Historically the American Gas Association (AGA), and more recently the Energy Information Administration (EIA), has aggregated a sample of storage data for an entire week and reported it on the following Thursday.

Brokers of natural gas futures are on both sides of the debate when it comes to talk of FERC ordering owners and operators of gas storage facilities to electronically post their storage inventory levels from the prior day. Historically the American Gas Association (AGA), and more recently the Energy Information Administration (EIA), has aggregated a sample of storage data for an entire week and reported it on the following Thursday.