While just a smidgen of its project would be in Canada, Vectorstill needed – and got yesterday – approval from Canada’s NationalEnergy Board (NEB). “This is a significant milestone and supportsVector’s status as the most advanced project to meet increasingdemand for natural gas for markets east of Chicago,” said VectorVice President Juri Otsason. Vector expects to receive finalcertification from the Federal Energy Regulatory Commission (FERC)in the second quarter, which will represent the final step inregulatory approvals.
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Bulls, Bears Call it a Tie on Expiration Day
Expiration day in the natural gas pit had a little something foreveryone Monday. While bears were greeted yesterday morning by alower open that paved the way for declines to the $1.80 level,aggressive afternoon buying put a smile on bull-traders’ faces asit led the April contract back above Friday’s best levels. But whenall the dust had settled and the final settlement price was handeddown from the data room at Nymex, neither bull nor bear could claimthe see-saw battle as a victory or a defeat. April finished downjust 0.2 cents at $1.852 and the May contract echoed that sentimentclosing 0.2 cents lower to $1.883.
Holy Cranberries! Two More EES Deals
Enron Energy Services proved energy management services appealto Catholic clerics as well as cranberry growers while adding twodeals to its parcel of contracts. Last week EES announced dealswith the Archdiocese of Chicago and Ocean Spray Cranberries Inc.
Holy Cranberries!Two More EES Deals
Enron Energy Services proved energy management services appealto Catholic clerics as well as cranberry growers while adding twodeals to its parcel of contracts. Yesterday EES announced dealswith the Archdiocese of Chicago and Ocean Spray Cranberries Inc.
New Carolina Pipe Proposal Draws Fire
While the Carolinas are known for warm breezes and friendly folks, a pipeline proposed for the two states is getting a very cold shoulder from competitors.
Fidelity Doubles Production in 10 Years
Fidelity Oil Group of Bismarck, ND, the E&P unit of MDUResources Group Inc., production has grown at an average rate ofmore than 10%/year for the last 10 years while reserves have grownat an average rate of more than 8%/year, net of ongoing production.Gas reserves have increased most significantly, growing to morethan 110 Bcf in January after Fidelity’s acquisition of propertiesin Louisiana, Texas, Oklahoma, and Mississippi. The company targetsboth onshore and offshore properties in many of the major basins.Fidelity operations stretch from Canada through the central U.S.and into the Gulf of Mexico.
Vector Continues High-Speed Progress
While most of the Vector Pipeline project remains dormant,Vector Pipeline L.P. recently announced an open season forshort-term firm transportation service from its proposedinterconnect with Michigan Consolidated Gas at Belle River, MI, tothe Union Gas Ltd. system at Dawn, ON. The company also said itexpects final regulatory approval for the entire Chicago-to-Dawnproject from both the Canadian National Energy Board (NEB) and theU.S. Federal Energy Regulatory Commission (FERC) by early April.
CPUC Plans Examination Of LDC Market Power
While hamstrung by a state law postponing further natural gasindustry restructuring, California regulators last week started adetailed assessment of whether the major investor-owned utilitiesthat they oversee have unfair competitive advantages that must beneutralized by future legislative and regulatory action. In initialproceedings last year, various non-utility market players allegedthe state’s three biggest gas utilities hold excessive market powerover major aspects of the industry.
Georgia PSC Votes to Investigate AGL
Like an irate mother ordering her child to come inside while theother children play, the Georgia Public Service Commissionunanimously voted Tuesday to order a full hearing into Atlanta GasLight’s (AGL) rate charging operations. The hearings will beginFeb.3 and a decision is expected by Feb. 9. The vote took placeduring a regular session of the commission.
Eastern Markets Level Off While West Keeps Falling
An Arctic cold front spreading through the nation’s midsectionwas enough to arrest a late December slide in cash prices Tuesday,at least in Eastern markets, which tended to be flat to slightlyhigher. But except for essential flatness at Waha and the PermianBasin, most of the West fell by about a dime or more, topped by adrop of almost 30 cents at Stanfield.