Williams took the next step with its proposed Mobile Bay South II Expansion project by filing an application with FERC. The project is one of a number of plans that would expand Williams’ Transcontinental Gas Pipe Line (Transco) to serve markets in the southeastern United States.
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MA Lawmaker At Forefront of Effort to Blunt LNG Provision in Omnibus Spending Bill
Rep. Barney Frank (D-MA) is at the forefront of an effort with other coastal state lawmakers to clarify that language contained in the omnibus spending bill conference report should not be used to bolster FERC’s claim of exclusive jurisdiction over the siting of liquefied natural gas (LNG) import terminals.
CPUC Faces Major Decisions with Divided Panel
With only two regularly scheduled meetings left before their six-year terms expire, two entrenched and embittered California regulators are not leaving quietly. This Thursday’s meeting is expected to see a continuation of the series of bitterly contested 3-2 splits with their three newer colleagues as the California Public Utilities Commission (CPUC) wades through an agenda full of potentially controversial energy items.
Futures Soar Friday, Gain $1.40 on the Week
Sparked in part by bullish comments from Federal Reserve Board Governor Ben S. Bernanke on Thursday, November natural gas futures shot above the psychological $8 level in Friday trading to notch a new annual high at $8.23 before settling at $8.105, up 40.8 cents on the day. Friday capped off a meteoric increase for the week, which ended $1.396 higher than the previous Friday’s settle of $6.709.
Industry Briefs
The Oil & Gas Asset Clearinghouse sold more than $18.2 million in properties at its hybrid auction in May, which offered 113 lots across the country. Approximately 260 registered bidders competed on the properties, with 30% bidding on the Internet. The Clearinghouse’s hybrid auction process allows Internet bidders the opportunity to compete simultaneously and on a real-time basis against floor bidders. Some of the notable properties were sold to Geodyne Nominee, the Jay-Lec Unit in Florida, $750,000; Swift Energy, North Creole and Broussard Field in Cameron Parish, LA, $500,000; Giddings Field in Fayette County, TX, $575,000; John Mecom III et al, Second Bayou Field in Cameron Parish, $1 million; Lance Ruffel Oil & Gas, Golden Trend Field in Grady County, OK, $2.5 million; Noble Energy, Algoa West Field in Brazoria County, TX, $600,000; Cosmonaut Field in Fort Bend County, TX, $1.4 million; Sugar Valley Field in Matagorda County, TX, $625,000; Mission Resources, Buna Field in Jasper County, TX, $725,000. The next hybrid auction will be held on July 14 at the Sheraton North Houston Hotel in Houston. Information on the upcoming auction may be found at www.ogclearinghouse.com.
Transportation Notes
Colorado Interstate Gas is holding an open season on capacity planned as part of a southern system expansion. The pipeline company said it is prepared to expand its system along its Campo Lateral in Las Animas County, CO, to Campo Junction and delivery points south of Campo Junction. It would expand its capacity by adding compression or looping as necessary to accommodate shipper commitments. CIG anticipates the expansion could be in service in October 2002. Parties interested in the open season should visit CIG’s bulletin board at http://www.epenergy.com/ebblinks/ebb.htm . The open season started yesterday and will close on July 31. Precedent agreements and offer sheets can be faxed to Craig Coombs at (719) 520-3792. For more information call CIG’s Tom Dobson at (719) 520-4606.
Transportation Notes
Colorado Interstate Gas is holding an open season on capacity planned as part of a southern system expansion. The pipeline company said it is prepared to expand its system along its Campo Lateral in Las Animas County, CO, to Campo Junction and delivery points south of Campo Junction. It would expand its capacity by adding compression or looping as necessary to accommodate shipper commitments. CIG anticipates the expansion could be in service in October 2002. Parties interested in the open season should visit CIG’s bulletin board at http://www.epenergy.com/ebblinks/ebb.htm . The open season started yesterday and will close on July 31. Precedent agreements and offer sheets can be faxed to Craig Coombs at (719) 520-3792. For more information call CIG’s Tom Dobson at (719) 520-4606.
Canadian Winter Exports to U.S. Jumped 18%
Canadian exporters got off to a spectacular start, piling up a 253% increase in revenues from sales to the United States during the first quarter of the current natural gas contract year. In Canadian dollars, the value of gas exports shot up to $11.6 billion during the three months that ended Jan. 31 compared to $3.28 billion in the same period of 1999-2000, according to records kept by the National Energy Board.
Alaskan Northwest Pipeline Application Still Viable
Calgary-based Alaskan Northwest Natural Gas Transportation Co. plans to keep up to-date its 20-year-old application for a pipeline right-of-way on Alaskan lands in its efforts to secure a front row seat if a natural gas pipeline is ever approved. The original application was filed in 1981 and remains active and in good standing, calling for a parallel route to the Alaska Highway.