Natural Gas Week articles from August 2006

Natural Gas Week archives from August 2006

Natural gas weekly spot prices.
August 7, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/1-8/7 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu...

Spike in gas futures prices collapses 'short' hedge fund, possibly more.
August 7, 2006... The recent unexpected spike in natural gas futures prices brought with it the unexpected failure of at least one energy hedge fund that bet heavily on falling gas prices. September gas futures shot up so quickly last week that some traders and...

Growth of worldwide LNG fleet opens doors for US flagged ships.
August 7, 2006... Growth in the worldwide demand for LNG could mean the beginning of a golden opportunity for the US maritime industry. The fact that more ships will be needed to help move ever increasing supply to worldwide markets is what has Robert Cowen...

Bull run likely to cool heels as heat, tropics dissipate.
August 7, 2006... Motivated by record high demand and a hurricane scare, the Nymex September gas futures contract skyrocketed last week in a massive shortcovering rally that sent prices flying, catching many market participants off guard. This week however, as...

Western Gulf Coast rechristened "Energy Coast" amid royalty row.
August 7, 2006... The US Gulf Coast is going through a makeover, and according to the governor of Louisiana it's designed to make the rest of the US know where most of their oil and gas comes from. The coasts of Louisiana, Texas, Alabama and Mississippi are...

Nuke project announced.(Late news ...)
August 7, 2006... Nuke project announced: Constellation Energy and France's leading nuclear contractor state-run Areva said Thursday that, through their jointly developed UniStar business model, they have entered into agreements to procure the long-lead...

Contract awarded.(Late news ...)
August 7, 2006... Contract awarded: Houston-based FMC Technologies has been awarded a three-year contract worth $80 million from Petrobras to supply subsea drilling and production systems for a project located off the coast of Brazil. FMC officials said the...

Congress readies for new fight as OCS drilling debate heats up.
August 7, 2006... The fight for access to US offshore resources has escalated the last several years, particularly as energy prices have soared. Bills in both houses of Congress have tried to bring the estimated 406 trillion cubic feet of natural gas located in...

Intrastate weekly spot prices.
August 7, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/1-8/7 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Alaska legislature continues pushing produce or pay plan.
August 7, 2006... Alaska state lawmakers trying to revamp the state's oil tax system continue to have trouble coming up with a plan that a majority will support--a dispute that presently blocks the way toward a natural gas pipeline deal. The latest oil tax...

Prices and differentials for major hubs and selected city gates.
August 7, 2006... August 7, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 7/31 8/1 8/2 8/3 8/4 HH-NY +1.94 +1.68 +1.68 +1.35 +1.04 HH-Chicago -0.24 -0.23...

Composite spot wellhead price.
August 7, 2006... COMPOSITE SPOT WELLHEAD PRICE January 2002 to Present ($/MMBtu) Year Jan. Feb. March April May June July August Sept. Oct. 2006 8.20 7.30 6.47 6.61 5.93 6.04 5.93 2005 6.05 5.99 6.77 6.99 6.26 6.91...

No bull: cow manure, not gas to fuel planned Texas ethanol plant.
August 7, 2006... Cattle manure and not natural gas will be used to fuel a $188 million ethanol plant that could be built near Hereford, Texas. Officials with Dallas-based Panda Ethanol said that debt financing has been completed for the proposed 100 million...

$1 billion turnkey contract given for Golden Pass LNG terminal.
August 7, 2006... Exxon Mobil and partners have given the official goahead for the 2 billion cubic feet per day (15.6 million tons/year) Golden Pass liquefied natural gas receiving terminal to be located near Sabine Pass, Texas, outside of Port Arthur. Golden...

Natural gas futures.
August 7, 2006... NATURAL GAS FUTURES Trading Dates: July 31 - August 4, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume...

Chesapeake Energy lands contract to drill at Dallas-Fort Worth Airport.
August 7, 2006... Chesapeake Energy could soon begin drilling for natural gas on land owned by the Dallas-Fort Worth International Airport in a landmark deal valued at $181 million. Airport Chief Executive Jeff Fegan said under the agreement with Oklahoma...

North American weekly gas storage.
August 7, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Jul. 28 Jul. 21 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1555 ...

Natural gas bidweek prices.
August 7, 2006... NATURAL GAS BIDWEEK PRICES Flow Dates: 8/1-8/31 August Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High...

BP: despite misgivings, natural gas faces bright future globally.
August 7, 2006... Natural gas faces deep scrutiny at this time in North America, Europe and Asia, according to the chief executive of BP's global gas, power and renewables business. But natural gas has a vibrant future because of ample supplies and its...

Global warming heating up fuel diversity, carbon consciousness.
August 7, 2006... Investment trends and business strategies reveal continued developments regarding fuel competition between coal and natural gas for power, mostly driven by current and expected climate change developments. If technology developments...

NGW's monthly weighted averages.
August 7, 2006... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Jul-06 Jun-06 May-06 Apr-06 Mar-06 Feb-06 Gulf Coast ANR SE 5.85 6.19 6.15 6.94 6.66 7.35 Col. Gulf - Erath 5.96 ...

Anniversary shows progress in transmission.(CURRENT)
August 7, 2006... On the eve of the first anniversary since the Energy Policy Act of 2005 (EPAct) was made law, federal bureaucrats are hustling to show substantial progress in tightening up gaps in the nation's power grid. Another crisis--whether Californian or...

Vail Resorts becomes latest to switch to wind power.(CURRENT)
August 7, 2006... Vail Resorts will buy enough wind-generated electricity to replace all the power used by its five ski areas and more than 135 other stores, lodges and offices. The company said it will purchase 152,000 MWh of wind-generated electricity a year,...

Geothermal plant under way in Idaho.(CURRENT)
August 7, 2006... The first geothermal power plant in the Pacific Northwest--and the second since the 2005 EPAct made such energy eligible for the full federal production tax credit--broke ground last week, in Raft River, Idaho. The plant is expected to...

Surplus plutonium to become nuke juice.(CURRENT)
August 7, 2006... Two-thirds of the surplus US inventory of weapons-grade plutonium is on schedule to be irradiated for use as fuel in nuclear reactors, in order to produce electricity. Recently, an under secretary of energy for nuclear security and...

Spot electricity trading.(CURRENT)
August 7, 2006... SPOT ELECTRICITY TRADING Trading Dates: July 31-August 4, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
August 7, 2006... COMPARATIVE FUEL PRICES (Cash Market) August 7, 2006 APPALACHIA Appalachian Pool Ohio/Big Sandy River Cool Dlvd (Util) $48.25/ton ...

DOE issues final report on storm damages to Gulf platforms, rigs.(Regional Market Roundup)
August 7, 2006... Just how hard the US energy industry got hit by hurricanes Katrina and Rita is still being studied, but a year later a few things are clear--the damage caused by the storms was greater than anything ever experienced by the industry and most of...

Baker Hughes rig count.(Regional Market Roundup)
August 7, 2006... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Aug. 4 Rotary Rigs Current Previous Year Week Week Ago Total US 1,705 1,714...

Gas price trends.(Regional Market Roundup)
August 7, 2006... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Aug 7, 2006 Inter (well) - - 6.23 6.64 ...

Projects eye Canadian oil sands cogeneration for MW export to US.(Canadian Markets)
August 7, 2006... Millions of megawatts could lie fallow, unsummoned in the production process in the Alberta oil sands, if there's nowhere to take them. And that's what two new transmission projects are designed to prevent, by funneling the electricity...

Petrobras to invest $22.1 billion to develop natgas industry.(World Roundup)
August 7, 2006... Brazil's state-controlled energy giant Petrobras plans to invest $22.1 billion between 2007-2011 to develop the country's natural gas industry, some 70% more than originally stipulated in its four-year investment plan. Imports of liquefied...

Canadian price report.(World Roundup)
August 7, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

2006 storm season comes in like lamb, going out like a ... lamb?(World Roundup)
August 7, 2006... For all its bullish promise, at least one hurricane forecaster is changing direction on the 2006 hurricane season. "The bottom line is the season will probably end up as a no-show", said WeatherInsite meteorologist Steve Gregory. "We'll be...

Natural gas weekly spot prices.
August 14, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/8-8/14 Price Point $/MMBtu Chg. High Low Avg. Avg. Aug. Daily Daily Bid ...

CFTC seeks to revamp, possibly squash COT report; cites flaws.
August 14, 2006... Unbeknownst to most energy traders, the Commodity Futures Trading Commission (CFTC) is currently evaluating changes to the weekly Commitments of Traders (COT) reports, which could either result in more reflective market data or do away all...

Outrage: congressman demands probe into BLM activities in Utah.
August 14, 2006... Rep. Maurice Hinchey (D-New York) is calling for an investigation by the Inspector General into the Bureau of Land Management's leasing activities in Utah. Citing an e-mail from an oil and gas industry lobbyist that allegedly implicates...

Unless hurricanes hit soon, gas appears poised to spiral lower.
August 14, 2006... Following what is likely to be the refill season's last bullish storage draw, traders refocused on the fundamentals of moderating demand and the seeming inevitability of record storage inventories, and sent Nymex gas futures slipping lower at...

Third time the charm for Alaska Legislature to approve oil tax.
August 14, 2006... It took the resurrection of an ill lawmaker, but the Alaska Legislature finally approved a new tax scheme for oil and gas production late last week. The bill is the biggest change in the state's tax law in 17 years and has significant...

Progress energy.(Late news ...)
August 14, 2006... Progress Energy: Progress Energy shut down the 938-megawatt Unit 1 at the Brunswick nuclear power station in North Carolina to work on the non-nuclear side of the plant early Friday, said a spokesman for the Raleigh, North Carolina-based...

Gazprom expansion.(Late news ...)
August 14, 2006... Gazprom expansion: Russian gas monopoly Gazprom said Friday that its UK-based subsidiary has set up new units in the US and France. Gazprom Marketing & Trading USA, which is intended to manage Gazprom's fledgling liquefied natural gas business...

Weaver's Cove.(Late news ...)
August 14, 2006... Weaver's Cove: Massachusetts Gov. Mitt Romney has ruled in favor of a bill proposed by the state legislature effectively barring LNG tankers from passing under local bridges, the Boston Globe reported. The bill was aimed primarily at Hess LNG's...

Regulators, lawmakers get tough on BP for pipeline maintenance.
August 14, 2006... Congress and federal regulators are turning the heat on BP following its pipeline problems and production shut down of the giant Alaska Prudhoe Bay oil field. Federal pipeline regulators are ordering the oil major to make additional "rigorous"...

Intrastate weekly spot prices.
August 14, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/8-8/14 Price Point $/MMBtu Chg. High Low Avg. Avg. Aug. Daily Daily Bid ...

Petrol Oil and Gas continues string of CBM drilling success.
August 14, 2006... Unconventional gas plays are giving Petrol Oil and Gas some very conventional good news as their drilling continues to pay dividends. Since Jan. 1, Overland Park, Kansas-based Petrol has completed six production coalbed methane wells out of...

Prices and differentials for major hubs and selected city gates.
August 14, 2006... August 14, 2006 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/7 8/8 8/9 8/10 8/11 HH-NY +0.90 +0.73 +0.67 +0.68 +0.30 HH-Chicago -0.22 -0.06...

Ziff Energy looking at factors affecting gas field operations.
August 14, 2006... The Ziff Energy Group has kicked off a study of the forces affecting operating costs for natural gas fields in four trends in South Texas and along the Texas Gulf Coast. The study will analyze operating cost data from 2005 when natural gas...

North American weekly gas storage.
August 14, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 4 Jul. 28 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1554 1555 ...

Majors continue to post healthy numbers in 2nd quarter reports.
August 14, 2006... Continuing a trend of healthy quarterly financial reports, the Big Four--Exxon, ConocoPhillips, Royal Dutch Shell and Chevron--all posted sizeable gains in their last filings. Also showing strong results were service support companies. For...

Natural gas futures.
August 14, 2006... NATURAL GAS FUTURES Trading Dates: August 7 - August 11, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume...

Pipeline capacity utilization.
August 14, 2006... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Aug. (2006) Aug. (2005) Month-to-Date Month-to-Date Transco Zone 6 NY 8/7/2006 1,493,370 1,606,170 1,379,187...

BPA swims upstream to save fish, low rates.(CURRENT)
August 14, 2006... It ain't easy bein' green--just ask the Bonneville Power Administration (BPA), arguably the greenest power generator in the nation. Hydro power may well be among the cheapest forms of renewable power generation, but the operator of the...

Nevada utilities delving into geothermal generation project.(CURRENT)
August 14, 2006... Nevada may be no Iceland when it comes to the use of geothermal power, but it's making headway. Reno-based Sierra Pacific Resources (SPR) signed a 20-year contract with Nevada Geothermal Power to provide up to 35 MW of new renewable generating...

Illinois wind farm given green light.(CURRENT)
August 14, 2006... Despite early congressional roadblocks caused by concern that massive wind turbines in the Midwest could interfere with military radar and thereby create a risk to "national security," work began last week on the Twin Groves Wind Farm in...

SCE, Chevron to demo hydro fuel station.(CURRENT)
August 14, 2006... Southern California Edison (SCE) has partnered with Chevron to build a small-scale, hydrogen refueling station at SCE's headquarters in Rosemead, California. While it will only produce 30 kilograms of hydrogen per day--about the same volume as...

Spot electricity trading.(CURRENT)
August 14, 2006... SPOT ELECTRICITY TRADING Trading Dates: August 7-August 11, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price Year Month POINT This Week Last Week Change Ago...

Comparative fuel prices.(CURRENT)
August 14, 2006... COMPARATIVE FUEL PRICES (Cash Market) August 14, 2006 APPALACHIA Appalachian Pool Ohio/Big Dlvd (Util) Sandy River Coal ...

Louisiana's Gov. Blanco blocks erath storage expansion project.(Regional Market Roundup)
August 14, 2006... Louisiana Gov. Kathleen Blanco has pulled the plug on the $160 million expansion of the Jefferson Island Storage & Hub project on Lake Peigneur. AGL Resources is seeking approval to carve two new caverns in the salt dome to increase capacity...

Baker Hughes rig count.(Regional Market Roundup)
August 14, 2006... [ILLUSTRATION OMITTED] BAKER HUGHES RIG COUNT Week Ended Aug. 11 Rotary Rigs Current Previous Year Week Week Ago Total US 1,728 1,705...

Gas price trends.(Regional Market Roundup)
August 14, 2006... GAS PRICE TRENDS ($/MMBtu) CALIFORNIA ROCKY NEW TEXAS MTNS MEXICO South North Gulf Gulf Central West Coast ...

BC's Kitimat LNG regas terminal forges ahead; still seeks supply.(Canadian Markets)
August 14, 2006... The Kitimat LNG project in British Columbia is ahead in the race to build the first receiving terminal along the West Coast of the US and Canada. After receiving final federal approval from Ottawa earlier this month, the company hopes to start...

Singapore seeking security with LNG project and hub development.(World Roundup)
August 14, 2006... Singapore's proposed 400 billion cubic foot per day LNG terminal is a scheme with a difference. Launching the project last week--albeit without as yet having pinned down either developers or supply--the government made clear that it wants the...

Canadian price report.(World Roundup)
August 14, 2006... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Huntingdon/ Kingsgate/ Province Sumas Eastport Border ...

Key unlocking vast new natgas play might not prove so elusive.(World Roundup)
August 14, 2006... The promise of methane hydrates as a future energy source may be nothing more than a pipe dream to many in the natural gas industry. But like now-prolific tight sands and shale plays, we may be mining this really unconventional resource by the...

Natural gas weekly spot prices.
August 21, 2006... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/15-8/21 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg....

Greens, politicians furious BLM auctioned pristine federal land.
August 21, 2006... Colorado has had its problems dealing with the Rockies energy boom. But activists say little compares with the recent Bureau of Land Management lease sale that was bitterly opposed by environmental groups and politicians alike as a very real...

Judge: Louisiana loses battle, but could win it all in lease sale war.
August 21, 2006... A 44-page ruling handed down by a federal judge last week allowing the Western Gulf Lease Sale 200 to go ahead as planned dealt Louisiana a loss. But the fight is far from over, said Louisiana Gov. Kathleen Blanco. The next setting for...

Late week tropical scare turns bearish price trend on its heels.
August 21, 2006... September natural gas saw a week-long slide interrupted Friday when the market got a jolt from the tropics. Planalytics Senior Energy Meteorologist Jim Rouiller sent out a tropical update Friday morning in which he noted conditions he...

Price of shallow-water blocks falls at Western Gulf lease sale.
August 21, 2006... Companies taking part in last week's Western Gulf of Mexico lease sale in New Orleans were able to pick up blocks in the Gulfs gas-prone shallow waters much more cheaply than they could at last year's sale. Bids were made on 107...

Applications submitted.(Late news)
August 21, 2006... Applications submitted: Woodside Natural Gas has submitted permit applications to federal agencies and the City of Los Angeles for approval to build and operate its proposed 400-million-cubic-foot-per-day Ocean-Way LNG project to bring...

Drilling plan approved.(Late news)
August 21, 2006... Drilling plan approved: A deal allowing Chesapeake Energy to drill for natural gas at the Dallas-Fort Worth International Airport has been unanimously approved by the Fort Worth City Council and its counterpart, the Dallas City Council....

Settlement offered.(Late news)
August 21, 2006... Settlement offered: Pioneer Natural Resources said Friday it has agreed to pay $32 million in cash to settle a lawsuit brought by royalty holders who claim the company improperly calculated payments on production at its Hugoton field. In its...

New Exxon CEO Tillerson confident about supermajor's NatGas projects.
August 21, 2006... Oil issues may be grabbing the headlines, but natural gas matters also are at the forefront for Exxon Mobil Chairman and Chief Executive Rex Tillerson. Among those are several of the largest projects ever proposed: The biggest LNG...

Analysts predict gas will see swift return to 6:1 Btu parity.
August 21, 2006... While a quiet tropical season and growing glut of natural gas storage has a large percentage of the market looking for gas prices to grind lower in coming weeks and months, analysts with Raymond James & Associates are taking an opposite stance,...

Prudhoe Bay repairs under way; BP's problems continue mounting.
August 21, 2006... UK oil giant BP continued work last week to repair corroded pipelines that forced it to shut the taps on a substantial amount of production at the largest oil field in the US. BP initially said it would have to shut down all 400,000 barrels...

US falls to bottom of import heap; LNG cargoes head to Europe, Asia.(Atlantic Basin LNG Update)
August 21, 2006... LNG demand sagged in Europe and the US in July, while picking up in the Far East. So far in August, however, flows have tilted back to Europe due to increased demand and a planned maintenance at certain production trains that have caused...

Intrastate weekly spot prices.
August 21, 2006... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/15-8/21 Avg. Avg. Aug. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
August 21, 2006... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES August 21, 2006 US$/MMBtu, Volume-Weighted [GRAPHIC OMITTED] SELECTED DAILY DIFFERENTIALS Differential 8/14 8/15 8/16 8/17 8/18 HH-NY ...

North American weekly gas storage.
August 21, 2006... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. 11 Aug. 4 Weekly Year Yr. Ago 5-year 5-year Region Week Week Change Ago Change Average Change US East 1591 ...

Natural gas futures.
August 21, 2006... NATURAL GAS FUTURES Trading Dates: August 14-August 18, 2006 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last ...

LNG netbacks to US & European terminals.(Atlantic Basin LNG Update)
August 21, 2006... LNG NETBACKS TO US & EUROPEAN TERMINALS August 2006 US$/MMBtu Trinidad Algeria Qatar Nigeria Oman US Lake Charles 5.01 4.67 3.85 4.48 3.95 Elba Island 5.83 5.56 4.73...

Prices for major Atlantic Basin LNG hubs.(Atlantic Basin LNG Update)
August 21, 2006... PRICES FOR MAJOR ATLANTIC BASIN LNG HUBS August 2006 ($US/MMBtu) [GRAPHIC OMITTED] *European gas prices are four-week spot averages from World Gas Intelligence. US gas prices are Natural Gas Week's volume-weighted composites...

Washington state may test green power limits.(CURRENT)
August 21, 2006... Mandating green power on a state as awash in hydro as Washington seems about as fruitful as tilting at windmills. But a grass roots, political effort is hell-bent on making the state's relatively low-impact power producers invest in renewable...

Northeastern cap-and-trade program set.(CURRENT)
August 21, 2006... After spending more than two years planning and gathering input from more than 100 organizations, the seven Northeastern states comprising the Regional Greenhouse Gas Initiative (RGGI) released their rules for a cap-and-trade program to...