Natural Gas Week articles from August 2004

Natural Gas Week archives from August 2004

Natural gas weekly spot prices.
August 1, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/24-8/30 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg....

TransCanada looks to CNG to add supply at Atlantic end of pipeline.
August 1, 2004... TransCanada PipeLines is letting no opportunity--or technology--to deliver natural gas supplies directly into the eastern end of its transcontinental transmission system pass by. The company has developed a system for transporting...

High crude prices alter LNG, fuel-switching dynamics in US.
August 1, 2004... Soaring crude oil prices are starting to play more than just a technical role in supporting US natural gas markets: Liquefied natural gas (LNG) cargoes are being diverted to regions with more favorable oil-based pricing terms, while gas prices...

Weld-busting storage could spell sloppy fall for natural gas market.
August 1, 2004... Bearish near-term factors, including a seasonal ebb in weather loads and high storage inventories, continue to pressure natural gas lower and have many market watchers wondering where prices will find a bottom. [GRAPHIC OMITTED] ...

Detroit sues TXU for reneging on deal.
August 1, 2004... The city of Detroit will be squaring off in court with Dallas-based TXU Energy in early December over who should pay for shipping natural gas to municipal facilities within the Motor City from a nearby delivery point. The dispute goes back...

Long Beach LNG terminal project takes more fire from local group.
August 1, 2004... Sound Energy Solutions (SES) is flying into more flak regarding its controversial plans to build a liquefied natural gas (LNG) receiving terminal in Long Beach, California. A new coalition coalling itself the Faith Based Coalition Against...

LNG ship chartered.(Late News ...)
August 1, 2004... LNG ship chartered: Houston-based Cheniere Energy said Friday that its affiliate, J & S Cheniere S.A., has completed a time charter for its second liquefied natural gas vessel. J & S Cheniere said a time-charter agreement was struck with...

Foreclosure possible.(Late News ...)
August 1, 2004... Foreclosure possible: Reliant Energy said Friday its lenders plan to foreclose on a 530-MW, natural gas-fired power plant in Liberty, Pennsylvania. Company officials said this would result in a $75 million write-off for the Houston-based power...

Assets bought.(Late News ...)
August 1, 2004... Assets bought: Pogo Producing will pay $189 million for natural gas properties in New Mexico's San Juan Basin in two separate deals. Houston-based Pogo said it will acquire about 100 Bcfe in proven reserves and current production of 15 MMcf/d...

El Paso: turnaround strategy on track, clearer sailing ahead.
August 1, 2004... It's been a tough two years--and the past six months have been particularly rough--but company executives say Houston-based El Paso's turnaround plan is on track. "While we still know that we have challenges ahead, we are beginning to see...

Intrastate weekly spot prices.
August 1, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/24-8/30 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Apache makes hay in shallow Gulf of Mexico others eschew.
August 1, 2004... While other companies have been turning their backs on the Gulf of Mexico shelf, Apache has adopted a contrarian stance that has paid off handsomely to date. After half a century of intense exploration, the pickings on the shelf are pretty...

Prices and differentials for major hubs and selected city gates.
August 1, 2004... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES August 30, 2004 US$/MMBtu, Volumne-Weighted SELECTED DAILY DIFFERENTIALS Differential 8/23 8/24 8/25 8/26 8/27 HH-NY +0.39 +0.38...

Marathon misses offshore Nova Scotia, Crimson F-81 abandoned.
August 1, 2004... Canada's East Coast was supposed to be the next North American exploration hot spot, but in recent months the bad news out of offshore Nova Scotia has far outweighed the good. Marathon Oil is the latest company to strike out offshore Nova...

North American weekly gas storage.
August 1, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 20 Aug. 13 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1489...

FP & L LNG tender could have few takers, RasGas-3 deal best bet.
August 1, 2004... The request for proposals (RFP) to supply 400 MMcf-600 MMcf/d of regasified Liquefied Natura Gas (LNG) issued last week by leading Florida electric utility FP & L looks like a great opportunity for some LNG supplier to gain an anchor customer...

Natural gas futures.
August 1, 2004... NATURAL GAS FUTURES Trading Dates: August 23-August 27, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last Volume...

Proposal impacts gas-fired revenues in PJM.(Current)
August 1, 2004... PJM is proposing a change in its installed capacity (ICAP) markets that will directly impact how gas-fired generators in PJM get paid for keeping the mandatory 16% reserves available for peak demand and emergencies. The ICAP market ensures...

Labor, greens support clean-coal plant.(Current)
August 1, 2004... Environmentalists have for the most part opposed coal plants, even clean-coal plants, but that appears to be changing as some environmental groups are starting to support integrated gasification combined cycle (IGCC) technology. IGCC is...

NEI appeals yucca decision, says 10,000 years long enough.(Current)
August 1, 2004... The Nuclear Energy Institute (NEI) filed a request with the US Court of Appeals for the District of Columbia Circuit last week seeking a review of its Jul. 9 decision regarding the planned Yucca Mountain repository for spent nuclear fuel. ...

Clean-coal plant gets government loan.(Current)
August 1, 2004... The US Department of Agriculture (USDA) is pouring $101.6 million in federal loan guarantees into a new clean-coal plant in Council Bluffs, Iowa, via an electricity cooperative. Central Iowa Power Cooperative (CIPCO) received approval for...

Spot electricity trading.(Current)
August 1, 2004... SPOT ELECTRICITY TRADING Trading Dates: August 23-August 27, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Bruce nuclear unit returns to service.(Current)
August 1, 2004... Ontario power markets saw the return of 880 MW of nuclear power last week from one of the province's largest independent power generators, Bruce Power. Unit 6 returned to service after an unplanned outage Aug. 18, following a maintenance...

NW conservation initiative under way.(Current)
August 1, 2004... To increase efficiency in the industrial sector, the Northwest Energy Efficiency Alliance has put up $11 million to fund an initiative to encourage businesses to improve operations to make them more energy efficient at both the corporate and...

Comparative fuel prices.(Current)
August 1, 2004... COMPARATIVE FUEL PRICES (Cash Market) August 30, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $61.00/ton $5.48/MMBtu $2.54/MMBtu EAST COAST New...

Fire out at Moss Bluff storage, duke assessing damages, repairs.(Regional Market Roundup)
August 1, 2004... After burning for a week, the fire at Duke Energy Gas Transmission's Moss Bluff storage site is out. Now, according to a company spokeswoman, comes the task of trying to find out what happened. Duke Energy spokeswoman Frances Jeter said the...

Baker Hughes rig count.(Regional Market Roundup)
August 1, 2004... BAKER HUGHES RIG COUNT Week Ended Aug. 27 Rotary Rigs Current Previous Year Week Week Ago Total US 1,239 1,230 1,102 Land ...

Gas price trends.(Regional Market Roundup)
August 1, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

NEB OKs duke's toll settlement plan for British Columbia pipe.(Canadian Markets)
August 1, 2004... Canada's National Energy Board has given Duke Energy Gas Transmission the OK for its two-year negotiated agreement for mainline service tolls on its pipeline system in British Columbia. A spokesman for the board said the two-year agreement, the...

ChevronTexaco finds gas off Australia.(World Roundup)
August 1, 2004... ChevronTexaco says it has discovered a "significant" amount of natural gas at its Wheatstone-1 well, 110 miles off the western coast of Australia. A production test on the well established a flow rate of 54 MMcf/d, which was constrained by rig...

LNG production not stopped by blast.(World Roundup)
August 1, 2004... A blast Sunday in a boiler in Unit 6 of Algeria's Skikda LNG plant has not affected production, Sonatrach's commercial department and a Sonatrach LNG engineer both said last week. Unit 6 was the second of three units brought back on stream...

Canadian price report.(World Roundup)
August 1, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total ...

Mild weather not only factor behind summer gas price slide.
August 1, 2004... Many traders have singled out unusually mild weather for torpedoing upward momentum in US natural gas markets this summer, particularly given that crude oil prices have rallied to record highs over this period. But one analyst argues that other...

Gas price report.
August 1, 2004... GAS PRICE REPORT ($/MMBtu--Spot) August 30, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid ...

NATURAL GAS WEEKLY SPOT PRICES.
August 2, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 7/27-8/02 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg....

Schwarzenegger may have trump to end LNG terminal dispute.
August 2, 2004... The ongoing dispute between the federal government and the California Public Utilities Commission (CPUC) over who has the legal right to determine the location of liquefied natural gas (LNG) terminals may end in a whimper--not a bang--according...

Exxon Mobil finds new way into US market via Bahamas terminal.
August 2, 2004... Exxon Mobil has entered the fast-growing US Southeast natural gas market and at the same time demonstrated that its North American liquefied natural gas (LNG) strategy is more flexible than previously disclosed. RasGas 3, in which Exxon...

Record crude keeps gas aloft despite mild temperatures.
August 2, 2004... After weathering an unusually weak demand period in late July, indicators are trending more bullish in natural gas markets with supportive weather in forecasts, crude hitting record highs and tropical storm activity heating up in the Atlantic...

Producers see strong earnings increase from rising prices.
August 2, 2004... Strong prices, a robust market and some choice asset sales gave majors a chance to shine last week in their second-quarter reports. Exxon Mobil sees profits rise A sharp rise in oil production offshore West Africa--combined with...

Vessel enroute to Gulf.(Late News ...)
August 2, 2004... Vessel enroute to Gulf. Torch Offshore says the pipelaying vessel Midnight Express will arrive in Gulf of Mexico Aug. 16. Ship was upgraded at Huisman shipyard at Schiedmam, The Netherlands. Midnight Express will travel to Mobile, Alabama, for...

Service expanded.(Late News ...)
August 2, 2004... Service expanded. Cascade Natural Gas has expanded service into West Richland, Washington. Company now supplying 93 cities, about 220,000 residential, commercial, industrial customers in Washington, Oregon with natural gas. Main customer in...

Deal signed.(Late News ...)
August 2, 2004... Deal signed. Oneok Energy Marketing & Trading has signed multi-year deal worth $350 million-$575 million to supply natural gas to Peoples Gas Light & Coke Co., a unit of Peoples Energy Corp. Natural gas will be sold to Peoples at the Chicago...

Drilling success.(Late News ...)
August 2, 2004... Drilling success. Calgary-based Rival Energy reports success with eight natural gas wells, one oil well in Western Canada. Once completed, wells expected to produce 800 boe/d. Company plans to drill four to six more wells in Robsart,...

INTRASTATE WEEKLY SPOT PRICES.
August 2, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 7/27-8/02 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High...

Prices and differentials for major hubs and selected city gates.
August 2, 2004... August 2, 2004 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 7/26 7/27 7/28 7/29 7/30 HH-NY +0.37 +0.44 +0.50 +0.39 +0.47 HH-Chicago +0.08 +0.03 -0.03...

Ivy League picks up torch for clean-coal IGCC technology.
August 2, 2004... One Ivy League institution has thrown its weight behind new clean-coal technology that could mitigate the use of natural gas for power generation, as well as supply synthetic gas for power generation while also producing industrial chemicals...

COMPOSITE SPOT WELLHEAD PRICE.
August 2, 2004... COMPOSITE SPOT WELLHEAD PRICE January 2000 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2004 5.90 4.79 5.28 5.62 6.17 6.11 5.82 2003 5.15 6.91 7.14 4.94 5.48 5.63...

COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE.
August 2, 2004... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE January 2000 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2004 6.30 4.82 5.32 5.65 6.20 6.12 5.86 2003 5.40 7.10 7.25 5.07...

Task force cites challenges in setting gas quality standards.
August 2, 2004... A broad-based industry working group mandated to solve problems relating to natural gas interchangeability released a draft report last week at a hearing of the Federal Energy Regulatory Commission (FERC), although a spokesman for the group...

Service industry, merchants earnings mixed in 2nd quarter.
August 2, 2004... Houston-based Transocean reported an upswing up in profits for the second quarter, but labor unrest in Norway and a Jul. 3 fire on one of its rigs will affect third-quarter earnings. A major provider of onshore and offshore drilling...

NATURAL GAS FUTURES.
August 2, 2004... NATURAL GAS FUTURES Trading Dates: July 26-July 30, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday Last Volume Last Volume Last...

NORTH AMERICAN WEEKLY GAS STORAGE.
August 2, 2004... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. 23 Jul. 16 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1266 ...

NATURAL GAS BIDWEEK PRICES.
August 2, 2004... NATURAL GAS BIDWEEK PRICES Flow Dates: 8/1-8/31 August Chg. Prev. Price Avg. from Bid Point $/MMBtu Prev....

CITYGATE PRICES.
August 2, 2004... CITYGATE PRICES August Chg. Prev. Price Avg. from Bid Point $/MMBtu Prev. High Low Vol. Deals Week Austin, Tx. ...

Index: face of Texas E & P industry changing, independents step up.
August 2, 2004... Today's energy industry in Texas isn't close to what it was 10 years ago, and in another decade it will have assumed a completely different identity. The industry is one in transition and in 10 years, independents searching mainly for...

Trinidad government eyes larger role in international LNG trade.
August 2, 2004... The government of Trinidad and Tobago is flexing its gas muscles. In order to strengthen its strategic position in the lucrative liquefied natural gas (LNG) market, the tiny Caribbean country is hatching plans for some radical changes in the...

NGW'S MONTHLY WEIGHTED AVERAGES.
August 2, 2004... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jul-04 Jun-04 May-04 Apr-04 Mar-04 Feb-04 Gulf Coast ANR SE 5.82 6.19 6.20 5.63 5.30 5.32 Col. Gulf--Erath 5.88 6.21 ...

Gas supplier cites overuse of gas for power.(Current)
August 2, 2004... As hopes dim for the passage of a comprehensive US energy bill before the November elections, industry sources continue to issue dire warnings of problems ahead if energy challenges are not addressed. Every segment of the industry has a...

Alleged AEP violations draw TCEQ fire.(Current)
August 2, 2004... An investigation by the emissions watchdog in Texas has initiated enforcement action to address air quality compliance at American Electric Power's (AEP) Welsh power plant, located east of Dallas. AEP may dispute the findings and seek out...

FirstEnergy settles claims for $90M.(Current)
August 2, 2004... FirstEnergy agreed to settle several lawsuits for almost $90 million to cover claims related to the blackout that left 50 million people in the eastern US and Canada in the dark Aug. 14, 2003. The company's insurance companies will pay the...

SPOT ELECTRICITY TRADING.(Current)
August 2, 2004... SPOT ELECTRICITY TRADING Trading Dates: July 26-July 30, 2004 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg.Price Avg. Price This Last Year Month POINT ...

Madison, wisc., gets new transmission.(Current)
August 2, 2004... Wisconsin will get a $30.6 million transmission upgrade to serve the Madison area with construction set to begin this summer following recent approvals. The transmission line is one of several upgrades by American Transmission Co. to help...

COMPARATIVE FUEL PRICES.(Current)
August 2, 2004... COMPARATIVE FUEL PRICES (Cash Market) August 2, 2004 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $60.00/ton $6.27/MMBtu $2.50/MMBtu EAST COAST...

MMS proposes allowing transport deducted from royalty payments.(Regional Market Roundup)
August 2, 2004... The Minerals Management Service (MMS) is proposing modest changes to its natural gas valuation rule used to determine royalties that companies must pay for drilling on federal lands. The changes announced in the Federal Register Jul. 23...

BAKER HUGHES RIG COUNT.(Regional Market Roundup)
August 2, 2004... BAKER HUGHES RIG COUNT Week Ended Jul. 30 Rotary Rigs Current Previous Year Week Week Ago Total US 1,229 1,216 1,097 Land ...

GAS PRICE TRENDS.(Regional Market Roundup)
August 2, 2004... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast Gulf Coast South...

Another Sable Island downgrade shortens project life by half.(Canadian Markets)
August 2, 2004... Declining production at the Sable Offshore Energy Project near Sable Island off the coast of Nova Scotia isn't surprising given the history of the project. That was how Roland George in the Calgary office of Purvin & Gertz characterized...

Pirates growing threat to world trade.(World Roundup)
August 2, 2004... Southeast Asia remains a dangerous place to operate a ship, according to new figures from the International Maritime Bureau (IMB) on pirate attacks in the first half of 2004. Indonesia and the Malacca Strait are particularly hazardous...

Bolivian LNG to eschew Chilean port.(World Roundup)
August 2, 2004... The government of Bolivia has decided to export the landlocked country's massive natural gas reserves through a port in Peru, dealing a blow to investors' preferred choice of a Chilean port, according to one of President Carlos Mesa's cabinet...

Sakhalin-2 deal pending for US, Mexico.(World Roundup)
August 2, 2004... Sakhalin Energy, operator of the Royal Dutch/Shell-led Sakhalin-2 project in the Russian Pacific shelf, could sign a new gas sales contract within a month. The deal with an unidentified buyer would involve liquefied natural gas deliveries to...

CANADIAN PRICE REPORT.(World Roundup)
August 2, 2004... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ Total Sumas ...

Supply, not access, seen as big hurdle for new LNG imports.
August 2, 2004... The gas industry is focused on the wrong problem in its efforts to boost imports of liquefied natural gas (LNG) in North America over the coming years, according to a new report. Analysts at Deutsche Bank said it is a recurring myth that...

GAS PRICE REPORT.
August 2, 2004... GAS PRICE REPORT ($/MMBtu-Spot) August 2, 2004 Interstate Intrastate Delivered Delivered Wellhead Wellhead To Pipeline To Utility Bid Bid...

Natural gas weekly spot prices.
August 9, 2004... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/3-8/9 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg....

Third world LNG projects costly up front, back-end cash cows.
August 9, 2004... Not only will developing the infrastructure needed to meet the world's growing thirst for liquefied natural gas (LNG) take time, it will take an enormous sum of capital investment, says Deutsche Bank analyst Paul Sankey. In a recent...

EOG expands Barnett Shale lease as Devon's gas production slips.
August 9, 2004... EOG Resources has further expanded its acreage in the red-hot Barnett Shale gas play in North Texas, saying it plans to invest $1 billion there in the coming years. Meanwhile, Devon Energy, the dominant producer in the play, has revealed...

Gas market plummets on unusual August cool spell in Eastern US.
August 9, 2004... The chances for any significant heat events are fast slipping away in the US gas market this summer, and with them the near-term bullishness that has kept gas prices elevated in the $6 range. Markets succumbed to fundamentals last week as...

Violations prompt FERC plan for daily storage reporting on EBBs.
August 9, 2004... Federal regulators are exploring the idea of making mandatory the daily reporting of storage by interstate pipelines and other operators, a development that would dramatically improve the clarity of the market supply and demand balance for gas...

Halliburton sued.(Late News ...)
August 9, 2004... Halliburton sued. New filing in class-action lawsuit charges Halliburton engaged in "serial accounting fraud" from 1998 to 2001. Lawsuit claims world's No. 2 oilfield services company, top executives inflated results, failed to disclose...

Newfield inks deal.(Late News ...)
August 9, 2004... Newfield inks deal. Houston-based oil and natural gas explorer Newfield Resources will buy Denver-based Inland Resources for $465 million. Newfield would assume $110 million of net debt in purchase of Inland, whose main asset is 110,000-acre...

LNG plant gets approvals.(Late News ...)
August 9, 2004... LNG plant gets approvals. Irving Oil has received approval for liquefied natural gas and multi-purpose pier project in Irving Canaport, New Brunswick. New Brunswick Department of Environment, Environment Canada, Fisheries and Oceans Canada...

Suit contests right to lease federal lands in Montana.
August 9, 2004... A controversial decision about coalbed methane (CBM) gas leases in Montana now sits in the hands of a US court. A three-judge panel at the 9th Circuit Court of Appeals in Seattle heard oral arguments last week on a case involving some...

Intrastate weekly spot prices.
August 9, 2004... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/3-8/9 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Barton clings to fading energy bill; refining woes next focus.
August 9, 2004... House Energy and Commerce Committee Chairman Joe Barton (R-Texas) is unabashed in his support of oil industry interests--be it a broad energy bill or legislation to increase US refining capacity. Since taking over the reins of the powerful...