Joining competition with Tennessee and Algonquin for growing markets on Long Island, Iroquois Gas Transmission System LP announced an open season yesterday for Zone 2 firm transportation capacity for delivery on its proposed Eastern Long Island Expansion.
NGI The Weekly Gas Market Report
Articles from NGI The Weekly Gas Market Report
Ocean Energy CFO Tells Producers to ‘Play Ball’
Using the baseball movie Field of Dreams as a metaphor for the energy industry, Ocean Energy Inc.’s CFO William Transier told producers they have to “go the distance” if they believe the North American natural gas market will grow to 30 Tcf within 20 years. By overcoming the challenges, producers can build a “supply of dreams.” But, he warned, it won’t be a shutout.
FERC Should Expand CA-Specific Actions to Markets Nationwide
The series of actions taken by FERC last month to boost supply and encourage construction of electric and natural gas transmission facilities in California and the West in the short term are “bold” and should be implemented, but the Commission also should consider expanding the scope of the actions to apply to wholesale power markets nationwide, said the Edison Electric Institute (EEI).
BP Exec Calls LNG ‘Fundamental’ To U.S. Market
BP North America Gas & Power President Tony Fountain said last week that the role of liquefied natural gas was “fundamental to our North American markets,” and indicated that the company is reviewing “several opportunities for LNG terminals” along the West Coast and East Coast. BP joins El Paso, Chevron and other companies that have announced similar LNG plans in response to high domestic gas prices.
SSB: Nation’s Summer ‘Normal;’ CA and NYC Beware!
This summer will not be a particularly hot one, but there is a chance that there will be some extensive heat waves in specific regions, especially in the West, New York and New England according to a national weather assessment by esteemed energy weather forecaster Jon Davis of Salomon Smith Barney. The SSB forecast, which takes into account Sea Surface Temperatures (SST), precipitation outlooks and soil moisture, as well as historical data, raises new hurdles for an already crippled California.
Report Touts Ohio Electricity Consumer Protections
Although there remains a dearth of retail electricity choice in Ohio, residents can take some comfort in knowing that they are protected by a wide range of consumer standards, and that the state will not ignore attempts to abuse Ohio’s evolving energy marketplace, according to a new report issued last Tuesday by the Ohio Consumers’ Counsel.
Lake Charles LNG Facility Scheduled for Upgrade
The largest liquefied natural gas (LNG) import terminal in the United States just received authorization from the Federal Energy Regulatory Commission (FERC) to become even larger. CMS Trunkline LNG will expand the peak send-out capacity of its terminal in Lake Charles, LA, this summer to 1 Bcf/d from 700 MMcf/d (see NGI, Feb. 26).
El Paso Cleared of Bid-Rigging Charge; Manipulation Remains
FERC last week cleared El Paso Natural Gas of charges that it rigged the bidding for capacity on its system during an open season in February 2000 to favor its affiliates El Paso Merchant Energy Gas L.P. and El Paso Merchant Energy Co., but allegations that the El Paso companies engaged in market and price manipulation weren’t as readily dismissed.
SPOT GAS MARKET WELLHEAD PRICE
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Shell Suggests Barrett Reconsider Offer
Defending its hostile takeover attempt for Denver-based Barrett Resources Corp., Royal Dutch/Shell Group’s CEO Walter van de Vijver sent a letter to Barrett’s board of directors Wednesday calling the $55 a share offer a “full and fair value” for the gas-rich independent. Barrett has rejected Shell’s offer and is now considering strategic alternatives (see NGI, March 12). There had been no response by Barrett at the end of last week.