Natural Gas Week articles from April 2002

Natural Gas Week archives from April 2002

Unplugged. (Late News).
April 1, 2002... Gentrica and New Power Holdings pull plug on merger (NGW Mar.4, p 10) after bankruptcy court declines to indemnify Centrica from future liabilities related to Enron. Scuttled deal leaves NewPower -- 43% owned by Enron -- with uncertain future....

April fool. (Late News).
April 1, 2002... As environmentalists slam national energy plan for not doing enough to promote renewable energy, administration taps those programs to print plan. White House spent $135,615 from Energy Department's solar and renewable energy budget to print...

Bare all. (Late News).
April 1, 2002... First they lost their jobs, now Playboy wants Enron's female employees to lose their shirts. Joining frenzy feeding on Enron scandal, Playboy is planning special issue showcasing female staff of bankrupt energy trader. "The Women of Enron" will...

Independents' focus questioned after replacement costs rise.
April 1, 2002... After the crude oil price collapse of 1998, US independent producers vowed to focus on value, insisting that enhanced earnings and return on capital employed would take priority over boosting cash flow and oil and gas production. They promised...

Strength in recent gas pricing could be temporary phenomenon.
April 1, 2002... April and May are normally characterized by relatively mild temperatures, so the natural gas market is currently being driven by near-term technical trading at the New York Mercantile Exchange (Nymex) and long-term factors, such as the...

Uncertainty in nuclear industry is potential gas demand boon.
April 1, 2002... The unprecedented nature of the corrosion findings at the Davis-Besse nuclear plant in Ohio means the plant is unlikely to return to service anytime soon, and the incident has the potential to require shut-downs at other nuclear power plants in...

Shell joins a crowded field to bring LNG into West Mexico.
April 1, 2002... Shell Gas & Power has confirmed its intention to develop a new and quite large liquefied natural gas (LNG) regasification terminal at Costa Azul, Ensenada, in the west Mexican state of Baja California, but now also says it has "contracted"...

Re-regulation bills move in Georgia.
April 1, 2002... Georgia lawmakers are getting closer to passing legislation intended to provide relief for natural gas customers who had been victimized by the chaos and confusion resulting from a deregulation program that veered out of control. Two bills...

Patriot is given FERC approval, but landowner disputes looming.
April 1, 2002... Federal energy regulators gave a preliminary thumbs-up to East Tennessee Natural Gas's Patriot project at their meeting last week, but not without a warning to the firm to improve its relations with landowners or put at risk the project's final...

Native issues cloud development of promising British Columbia.
April 1, 2002... Prospects for the oil and gas industry in British Columbia have picked up since the election of a new provincial government last year, but issues of native land rights still cast a long shadow over the sector, according to Pierre Alvarez,...

Spot prices on intrastate pipeline systems.
April 1, 2002... SPOT PRICES ON INTRASTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 1, 2002 This Weekly Bid Week Pipeline Week Change for Apr. ...

Critics charge undue influence after papers released to NRDC.
April 1, 2002... The Bush administration drew further criticism over industry's undue influence on White House decisions after official documents released upon court order revealed that energy companies had more say in the crafting of the national energy policy...

Composite Spot Wellhead Price.
April 1, 2002... COMPOSITE SPOT WELLHEAD PRICE January 1990 to Present ($/MMBtu) Jan. Feb. March April May June July August Sept. Oct. 1990 2.23 1.68 1.42 1.39 1.39 1.40 1.36 1.32 1.37 1.56 1991 1.57 1.30...

Gas royalty decision appealed; API to battle Clinton-era rule.
April 1, 2002... Raising the stakes in its legal tussle with the federal government, the American Petroleum Institute (API) last week field a petition seeking a rehearing on a federal court decision that upheld the Minerals Management Service's (MINIS) natural...

Composite Spot Delivered-to-Pipeline Price.
April 1, 2002... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 1990 to Present ($/MMBtu) Jan. Feb. March April May June July August Sept. Oct. 1990 2.41 1.82 1.56 1.60 1.59 1.60 1.54 1.49 1.52 1.74 1991...

Altra sells online liquids ops, falls to firm-backed exchanges.
April 1, 2002... Altra Energy Technologies -- which not too long ago was the dominant electronic trading exchange and energy software developer -- has shut down the last of its operations. The company's natural gas trading platform was shut down last week,...

Salt cavern storage.
April 1, 2002... SALT CAVERN STORAGE (Billion Cubic Feet) Mar. 22 MMcfd MMcfd Bcf Bcf Facility State Max ...

Weather insurance upped results for utilities in mild winter.
April 1, 2002... While many utilities hedge their natural gas supply to help mitigate the effects of potentially spiking winter prices, some companies have opted to purchase weather insurance to offset potential revenue losses from lost demand that results from...

2002 gas price outlook.
April 1, 2002... 2002 GAS PRICE OUTLOOK April 1, 2002/Week 13 12-Month Strip Wellhead Delivered-to-Pipeline Nymex $3.07 $3.20 $3.562 NOTES:(1) Prices are in $/MMBtu and are for...

Major market prices.
April 1, 2002... MAJOR MARKET PRICES April 1, 2002 ($/MMBtu) This Weekly Bid Week Week Change for Apr. Chicago City Gate 3.47 +0.11 3.43 New York City Gate 3.72 +0.02 3.71...

Appeals court upholds EPA's smog, soot rules. (Current).
April 1, 2002... The Environmental Protection Agency's (EPA) controversial smog and soot standards, developed under the Clinton administration, withstood another legal challenge last week when a federal appeals court rejected industry groups' claims that the...

AIG introduces insurance products. (Current).
April 1, 2002... The risks of building and operating a new power plant in the US -- from adding more debt to one's balance sheet to providing security to managing operators -- have caused a number of project cancellations and deferrals in recent months, but...

Cleco to buy Mirant's plant stake. (Current).
April 1, 2002... PERRYVILLE, Louisiana -- Cleco and Mirant signed an agreement last week in which the former will buy the latter's 50% interest in the 725-MW power plant the companies are building in northeast Louisiana. The natural gas-fired plant is owned...

New York Board approves plant. (Current).
April 1, 2002... ALBANY -- The New York State Board on Electric Generation Siting and the Environment approved -- with conditions -- an application by Mirant for its Bowline generation facility. The new 750-MW plant will be located on about 25 acres of a...

Comparative fuel prices.
April 1, 2002... COMPARATIVE FUEL PRICES (Cash Market) April 1, 2002 EAST COAST Natural Gas Natural Gas New YorkHarbor: Texas New York Heating ...

Natural Gas Futures and Spot Electricity Trading.
April 1, 2002... NATURAL GAS FUTURES AND SPOT ELECTRICITY TRADING Trading Dates: March 25-March 28, 2002 New York Mercantile Exchange (NYMEX) (Henry Hub) Monday Tuesday Wednesday Thursday Last/Volume...

Williams to offer risk management.
April 1, 2002... TULSA, Oklahoma -- Williams and regulated utility Nevada Power have entered into negotiations on a long-term agreement to supply fuel, assets, and risk management services. Williams said the move could help ease consumer electricity rates and...

Dominion Energy accepting bids.
April 1, 2002... RICHMOND, Virginia -- The Dominion Energy Clearinghouse is soliciting proposals to purchase up to 200 MW of electric power from May 1 through April 2007 for Dominion Virginia Power. The clearinghouse is accepting proposals for a minimum of 50...

Cash Marketing Trading.
April 1, 2002... CASH MARKETING TRADING ($MMBtu) Henry Hub, La. Jan. Feb. March April May June July 1994 2.34 2.71 2.21 2.04 1.92 1.90 1.96 1995 1.48...

Natural Gas Rig Count.
April 1, 2002... NATURAL GAS RIG COUNT Jan. Feb. March April May June July August Sept. 1999 Total 587 542 526 496 516 558 588 639 696 Gas 461 425 412 371 380 434 478 527 565 ...

Cove Point re-opening delayed? Williams eyes early '03 restart. (Regional Market Roundup).
April 1, 2002... Williams' Cove Point liquefied natural gas (LNG) terminal continues to be hung up by environmental regulations. Restart of the terminal -- built in the 1970s, with last regasification in 1980 -- may get pushed back into early 2003. Cove...

Spot Prices on Interstate Pipeline Systems -- Part I. (Regional Market Roundup).
April 1, 2002... SPOT PRICES ON INTERSTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 1, 2002 This Weekly Bid Week Pipeline Week Change for Apr....

Canadian soft lumber dispute seeps into pipeline discussion. (Canadian Markets).
April 1, 2002... Natural gas has once again been suggested as a vehicle to force the US to back down on a recently imposed duty on softwood lumber imports from Can. But instead of duties on energy exports, as was suggested last summer (NGW Aug. 27, '0l,...

Canadian Price Report.
April 1, 2002... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ ...

City gate prices.
April 1, 2002... CITY GATE PRICES April 1, 2002 ($/MMBtu) Bid Week Bid Week City for Apr. for Mar. Austin, Texas Valero Transmission Co. 3.41 ...

Gas Price Trends.
April 1, 2002... GAS PRICE TRENDS (S/MMBtu) CALIFORNIA TEXAS ROCKY NEW MTNS MEXICO ...

Nuke worries, coal maintenance may bolster spring gas market.
April 1, 2002... Spring is normally a down time for natural gas, in terms of both demand and prices. But the coming "shoulder season" may prove a surprisingly eventful period for gas markets. Foremost in the minds of many traders is the operating status of...

Gas price report.
April 1, 2002... GAS PRICE REPORT ($/MMBtu--Spot) April 1, 2002 Interstate Intrastate Delivered Wellhead Wellhead To ...

Rig count. (Canadian Markets).
April 1, 2002... There were 312 rigs drilling for natural gas and oil in Western Canada as of Mar. 26, a decrease of 48 from a week ago, according to the Canadian Association of Oilwell Drilling Contractors (CAODC). During the same period a year ago, CAODC...

Working gas. (Canadian Markets).
April 1, 2002... Working gas in all Canadian storage facilities decreased to 52.4% of capacity as of Mar. 22, down from 54.6% the week before, according to the most recent data available from the Canadian Gas Association (CGA). Canadian storage facilities...

The composite spot import price. (Canadian Markets).
April 1, 2002... The composite spot import price this week is US$3.22/MMBtu for gas leaving Canada and entering the United States through six border crossing points. Natural Gas Week's Apr. 2, 2001, average for Canadian exports was US$5.42/MMBtu. ...

Storage bearish in near-term, but upside seen by summertime.
April 8, 2002... Several of the factors that have led to the lengthy runup in natural gas prices remain in place -- such as the concerns over nuclear facilities (see story, p10) and that Mideast tensions could spill over into crude oil producing countries --...

Carolinas could come up short in power plant building spree.
April 8, 2002... Two years ago, conventional industry wisdom held that the US economy would be in desperate need of new power generation for years to come. A recession later, pundits talk freely of a power supply glut. Actually, both views are correct. It...

Operational issues create buzz, but no Gulf project delays yet.
April 8, 2002... Recent problems with control umbilicals and subsea connectors on Gulf of Mexico development projects have caused some consternation, but so far little or no delay in onstream dates, according to industry sources. But any event that...

ICE, ICE baby. (Late News).
April 8, 2002... Volumes on IntercontinentialExchange (ICE) grow 979% in first quarter over year-ago figures, capitalizing on EnronOnline crash. Trading volumes for North American natural gas soar 2,600% to 31 Tcf, and volumes for North American power rise by...

One for FERC. (Late News).
April 8, 2002... US District Court of Appeals in Washington, D.C. upholds Federal Energy Regulatory Commission Order 637 in opinion issued last Friday. Plaintiff Interstate Natural Gas Association of America argued that exempting shippers from price caps on...

Equal opportunity. (Late News).
April 8, 2002... First Playboy magazine announced plans for "Women of Enron" issue. Not to be outdone, Playgirl will offer men of Enron equal opportunity at fame. Current and former gentlemen of Enron have been invited to submit current photos for chance to be...

Average cash prices & futures strip. (Late News).
April 8, 2002... Natural gas prices rose again last week, but the shoulder period and storage surplus could begin to weigh on the market. [Graph omitted] [Graph omitted]

Huge royalty gas tariff hike raises ire of Texas Land Office.
April 8, 2002... The Texas General Land Office (GLO) is fighting efforts by a Texas natural gas pipeline company to increase the rate it charges to transport state royalty gas from several offshore blocks by almost 300%. The company, Panther Pipeline,...

Accounting issues strike again; Dynegy stock hit the hardest.
April 8, 2002... The energy merchant sector suffered another round of "Enronitis" last week (NGW Feb. ll,pl), and at least one Wall Street analyst is as angry at the companies for not vaccinating themselves against the scourge as at the media outlets she...

Navy asks for halt to AES pipe.
April 8, 2002... Financially troubled gas and power company AES caught another bad break recently as the US Navy asked federal regulators to halt a proposed natural gas pipeline from the Bahamas to Florida (NGW Mar. 4,p6) due to its possible interference with a...

Fortune 500 Enron ranking eyed in light of questionable data.
April 8, 2002... Business periodical Fortune issued its annual list of the top 5001.15 companies by revenue last week, and, much to the surprise of many energy industry observers, the survey ranked bankrupt energy trader Enron as No.5. The magazine said it...

Decision on boundary dispute could lead to more exploration.
April 8, 2002... A Canadian tribunal last week drew a new line in a long-running offshore boundary dispute that will see Nova Scotia lose a portion of potentially lucrative undersea oil and gas licenses to Newfoundland, and should usher in increased exploration...

Newcomer offers shaped deals to diversify power E-products.
April 8, 2002... Power-trading exchange E-lecTrade, a newcomer in the electronic exchange business, thinks that it has found a market untapped by other exchanges. Whereas other exchanges, such as the IntercontinentalExchange and TradeSpark, offer...

Salt Cavern Storage.
April 8, 2002... SALT CAVERN STORAGE (Billion Cubic Feet) Mar 29 MMcfd MMcfd Bcf Bcf Facility State Max ...

NGVs gain ground as fleet Fuel in fertile California markets.
April 8, 2002... When the commercialization and proliferation of natural gas vehicles (NGV) is mentioned in the marketplace, it has been met with a condescending snicker questioning the viability of the business. For several years NGVs and the use of natural...

El Paso finds its gas model works well in midstream oil.
April 8, 2002... The energy-merchant business model didn't adapt to broadband quite as well as El Paso had hoped, but the company is having much better luck transferring the skills and practices of the midstream natural gas sector to the offshore oil industry....

Spot prices on Intrastate Pipeline Systems.
April 8, 2002... SPOT PRICES ON INTRASTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 8, 2002 This Weekly Bid Week Pipeline Week Change for Apr. Louisiana Intrastates ...

FERC eyeing security concerns through pipe damage meetings.
April 8, 2002... With the Sept. 11 terrorist attacks obviously in mind, federal regulators announced last week that they are planning a series of conferences to agree on an action plan for the emergency reconstruction of pipelines in the wake of disasters,...

2002 Gas Price Outlook.
April 8, 2002... 2002 GAS PRICE OUTLOOK April 8, 2002/Week 14 12-Month Strip Wellhead Delivered-to-Pipeline Nymex $3.07 $3.20 $3.532 NOTES: (1)Prices are in $/MMBtu and are for...

Commodity price uncertainty slows M&A activity. (E&P Update).
April 8, 2002... A dearth of deals in North America slowed the overall pace of worldwide upstream mergers and acquisitions (M&A) in the first quarter, prompting analysts to question whether the industry's urge to merge was passing. Energy consultant John...

NRC reviewing nukes as expansions continue. (Current).
April 8, 2002... The US Nuclear Regulatory Commission (NRC) last week continued its investigation of corrosion findings at the Davis-Besse nuclear power plant in Ohio, and a report showed that another FirstEnergy-operated plant showed some -- albeit extremely...

Hydro One to be sold to public as firm seeks to pay down debt. (Current).
April 8, 2002... As part of Ontario's plan to deregulate electricity in the province, the government-owned Hydro One transmission operator will be sold to the public -- and Ontario residents will get first shot at the stock. Ontario is set to officially...

Comparative Fuel Prices.
April 8, 2002... COMPARATIVE FUEL PRICES (Cash Market) April 8, 2002 EAST COAST Natural Gas Natural Gas New York Harbor: Texas New York Heating ...

NRG cancels purchase of plants. (Current).
April 8, 2002... MINNEAPOLIS -- NRG has terminated purchase and sale agreements between itself and Atlantic City Electric -- a subsidiary of Wilmington. Delaware-based Conectiv--for the acquisition of 794 MW, primarily coal-fired, electric generating plants....

ABB to install HVDC East-West Tie. (Current).
April 8, 2002... RAPID CITY, South Dakota -- ABB, a Switzerland-based power and automation technology group, won a $50 million order to install a new high-voltage direct current (HVDC) transmission system between two western power grids in the US. Under...

Atmos unit to build Tennessee plant. (Current).
April 8, 2002... DALLAS -- A subsidiary of Atmos Energy has been chosen to build a 21-MW natural gas-fired electric power plant for one of its industrial customers in Tennessee. The facility will cost approximately $8 million to build. The unidentified...

Duke unit awarded BPA project. (Current).
April 8, 2002... CHARLOTTE, North Carolina -- The Bonneville Power Administration (BPA) awarded Duke Energy's Energy Delivery Services the first phase of a large-scale multi-year transmission system upgrade and expansion in Washington State. Duke said initial...

Natural Gas Futures and Spot Electricity Trading.
April 8, 2002... NATURAL GAS FUTURES AND SPOT ELECTRICITY TRADING Trading Dates: Apr.1 - Apr.5, 2002 New York Mercantile Exchange (NYMEX) (Henry Hub) Monday Tuesday Wednesday Thursday Last/Volume...

Cash Market Hub Trading.
April 8, 2002... CASH MARKET HUB TRADING ($/MMBtu) Henry Hub, La. Jan. Feb. March April May June July 1994 2.34 2.71 2.21 2.04 1.92 1.90 1.96 1995 ...

Natural Gas Rig Count.
April 8, 2002... NATURAL GAS RIG COUNT Jan. Feb. March April May June July August Sept. 1999 Total 587 542 526 496 516 558 588 639 696 Gas 461 425 412 371 380 434 478 527 ...

Dominion unit seeking interest in 6 Bcf of storage capacity. (Regional Market Roundup).
April 8, 2002... Dominion Transmission (DTI), the Clarksburg, West Virginia-based subsidiary of Richmond, Virginia-based Dominion, embarked last week on an open season seeking interest in 6 Bcf of natural gas storage capacity with 100 MMcf/d-200 MMcf/d of...

Spot prices on Interstate Pipeline Systems -- Part 1.
April 8, 2002... SPOT PRICES ON INTERSTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) April 8, 2002 This Weekly Bid Week Pipeline Week Change for Apr....

Shareholders OK EnCana deal creating largest independent. (Canadian Markets).
April 8, 2002... PanCanadian Energy and Alberta Energy (AEC) stockholders overwhelmingly approved their blockbuster merger last Thursday, clearing the way for today's launch of EnCana -- the world's largest independent energy company. Although some...

Canadian Price Report.
April 8, 2002... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total...

Gray sees strong hurricane season.
April 8, 2002... William Gray, the hurricane forecast guru of Colorado State University, last week issued his latest prediction for 2002 hurricane season activity and it could give natural gas bulls a boost. "The upcoming June 1-Nov. 30 hurricane season...

Major Market Prices.
April 8, 2002... MAJOR MARKET PRICES April 8, 2002 ($/MMBtu) This Weekly Bid Week Week Change for Apr. Chicago City Gate 3.58 +0.11 3.43 New York City Gate 3.94 +0.22 3.71...

Gas Price Trends.
April 8, 2002... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North April...

New quarterly producer survey points to fast drop in supply.
April 8, 2002... Most analysts are vastly underestimating the extent of gas deliverability decline this year, if the results of a new producer survey prove accurate. Analysts at Raymond James surveyed 30 of the largest US producers, representing about 45%...

Gas Price Report.
April 8, 2002... GAS PRICE REPORT ($/MMBtu--Spot) April 8, 2002 Interstate Interstate Delivered Wellhead Wellhead To ...

Prices and differentials for major hubs and selected city gates.
April 8, 2002... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES April 8, 2002 US$/MMBtu Sumas, Wash. $3.20 AECO-C Hub $3.12 Kingsgate, B.C. $3.14 Malin, Ore. $3.33 Los Angeles...

Command performance. (Late News).
April 15, 2002... National Petroleum Council, Department of Energy advisory group comprised of 180 oil and gas company execs, will update previous reports on broad, long-term outlook for US natural gas supply, demand. Energy Secretary Spencer Abraham requests...

Sound off. (Late News).
April 15, 2002... Connecticut state legislature last week declared one-year moratorium on gas and electric infrastructure projects across Long Island Sound. Gov. John G. Rowland vowed not to pass bill and instead offered executive order creating task force to...

Change of venue. (Late News).
April 15, 2002... US bankruptcy judge Arthur Gonzalez last Friday ordered Enron's $10 billion lawsuit against Dynegy transferred to federal court in Houston from New York. Gonzalez ruled Houston venue would make trial more efficient and economical. He also said...