Natural Gas Week articles from January 2002

Natural Gas Week archives from January 2002

Falling prices. (Late News).
January 7, 2002... Despite sky-high prices early last year, the Natural Gas Week 2001 composite spot wellhead price for natural gas came in at $3.88/MMBtu, 21cents less than 2000 wellhead composite. The 2001 composite spot delivered-to-pipeline price ended at...

Power problems. (Late News).
January 7, 2002... Energy Security Analysis says two power business issues emerge from chaotic fall of 2001: contraction of project finance activity and death of the combined-cycle gas turbine generation solution. "In Enron's wake, major power traders have...

Setting an example. (Late News).
January 7, 2002... Natural Gas Vehicle Coalition joins environmental community in its call for federal government to comply with federal requirements to use alternative fuel vehicles (AFVs) in its fleets. Lawsuit filed last week in federal court by Earthjustice...

Weather fails to trump storage; working gas surplus tops 1.1 Tcf.
January 7, 2002... The winter is slowly slipping away from natural gas producers and marketers who have been hoping for a weather-induced price spike to enable those with expensive gas in the ground to withdraw and meet peak demand. But peak demand is not...

Mandatory storage withdrawals threaten late winter Gas Prices.
January 7, 2002... Prior to the Christmas holidays storage played only a bit part in balancing the early winter gas market. But that situation will soon change, and likely to the detriment of prices. Storage could become the 800-pound gorilla that crushes the...

Dynegy lands Northern natural; Enron liquidation proceeding.
January 7, 2002... Enron acknowledged the inevitable in at least one of its many legal and financial problems last week and agreed to allow Dynegy to complete the acquisition of Northern Natural Gas (NNG). NNG is a 16,000-mile interstate natural gas...

Murray's vision contributes to flaring's end. (Retrospective).
January 7, 2002... A few years ago, legendary Texas oil and gas executive Oscar S. Wyatt Jr. encountered former Texas Railroad Commissioner William J. Murray at a dinner in Austin, where Murray was being honored for his contributions to the Texas petroleum...

Industry asks congress to help; Fracturing regulation debated.
January 7, 2002... A recent US appeals court decision on hydraulic fracturing - a drilling technique critical to coalbed methane extraction - that offered no clear winner is again prompting the oil and gas industry to turn to Congress for a legislative remedy....

Enron eyed on two hill fronts; finances, safety investigated.
January 7, 2002... Enron took a double shot from Congress last week as the Senate ordered investigations into the bankrupt former gianes finances while the House is seeking information on Enron's pipeline safety record. The Senate Governmental Affairs...

Major Market Prices.
January 7, 2002... MAJOR MARKET PRICES January 7, 2002 (S/MMBtu) This Weekly Bid Week Week Change for Jan. Chicago City Gate 2.55 -0.28 2.68 New York City Gate 3.92 +0.46 3.91...

LNG deals continue unabated; shell, El paso eye more imports.
January 7, 2002... Natural gas prices are well off their year-ago highs, but access to the limited US liquefied natural gas (LNG) import capacity continues to be a hot commodity as Shell Gas & Power demonstrated last week. The Royal Dutch/Shell unit has...

Composite Spot Wellhead Price.
January 7, 2002... COMPOSITE SPOT WELLHEAD PRICE January 1989 to Present ($/MMBtu) Jan. Feb. March April May June July August Sept. Oct. 1989 1.83 1.55 1.40 1.42 1.54 1.55 1.51 1.47 1.43 1.45 1990 2.23 1.68...

Canadians uneasy about 2002; project decisions lie ahead.
January 7, 2002... Gazing into their crystal balls, Canadian oil and gas industry insiders say 2002 will be a year of major decisions. "The year 2001 was falling prices and significant mergers, and the year 2002 will be a year of big project decisions," said...

Composite Spot Delivered-to-pipeline Price.
January 7, 2002... COMPOSITE SPOT DELIVERED-TO-PIPELINE PRICE (January 1989 to Present) ($/MMBtu) Jan. Feb. March April May June July August Sept. Oct. 1989 2.05 1.77 1.61 1.64 1.71 1.71 1.69 1.65 1.60 1.67 1990...

Energy firms keep taking hits for failed Telecom Investments.
January 7, 2002... Kansas City-based Great Plains Energy, the parent company of utility Kansas City Power & Light, is the latest in a growing list of energy companies that have been burned by failed investments in the telecommunications sector. Two of Great...

Salt Cavern Storage.
January 7, 2002... SALT CAVERN STORAGE (Billion Cubic Feet) Dec 28 MMcfd MMcfd Bcf Bcf Facility State Max ...

Mirant pulls out of purchase; firm victim of credit downgrade.
January 7, 2002... As bankrupt Enron tries to wind down its nascent global liquefied natural gas (LNG) business, an assumed buyer is returning one of its assets. Last week Mirant informed Enron and Edison International's Edison Mission that it will not be...

Gas Price Report.
January 7, 2002... GAS PRICE REPORT ($/MMBtu--Spot) January 7, 2002 Interstate Intrastate Delivered Wellhead Wellhead To ...

DG's implementation still slow; gas demand effect in question.
January 7, 2002... Slowly but surely, a number of utilities, regulators and businesses are embracing the concept of distributed generation (DG). But the implementation of DG technology and its affects on natural gas demand remain in question. If...

2002 Gas Price Outlook.
January 7, 2002... 2002 GAS PRICE OUTLOOK January 7, 2002/Week 1 12-Minth Strip Wellhead Delivered-to-Pipeline Nymex $2.38 $2.52 $2.566 NOTES: (1)Prices are in $/MMBtu and...

City Gate Prices.
January 7, 2002... CITY GATE PRICES January 7, 2002 ($/MMBtu) Bid Week Bid Week City for Jan. for Dec. Austin, Texas Valero Transmission Co. 2.66...

Power deregulation starts slowly in Texas. (Current).
January 7, 2002... Retail power deregulation took hold last week in Texas with more of a whimper than a bang. Most of the noise surrounding the event came from consumer advocates worried over a lack of consumer education efforts and pricing concerns. ...

AEP's power portfolio growing. (Current).
January 7, 2002... American Electric Power (AEP) recently expanded its already diverse portfolio of power generation facilities with the purchase of the 160-WM Indian Mesa Wind Power Project from Enron Wind of California for $175 million. A judge recently...

Group approves cross sound cable. (Current).
January 7, 2002... NEW HAVEN, Connecticut -- The Connecticut Siting Council approved plans for the Cross Sound Cable Project, a 24-mile high-voltage electric transmission cable that will stretch across the Long Island Sound from New Haven, Connecticut, to...

New energy provides Solar Power. (Current).
January 7, 2002... LOS ANGELES -- New Energy has signed a deal with Teixeira Farms of Santa Maria, California, to provide the company with High Concentrate Photovoltaic (HCPV) solar energy for 10 years. The contract includes four 1-MW HCPV generators, which are...

Fuel Tech signs utility deal. (Current).
January 7, 2002... STAMFORD, Connecticut -- Fuel Tech NV received a letter of intent last week from a utility company for the installation of Fuel Tech's "NoxOut Selective Non-Catalytic Reduction" technology. The contract is valued at $3.8 million and includes...

Comparative Fuel Prices.
January 7, 2002... COMPARATIVE FUEL PRICES (Cash Market) January 7, 2002 APPALACHIA Appalachian Pool Dlvd (Util) Ohio/Big Sandy River Coal S28.50/ton $2.77/MMBtu ...

FirstEnergy to supply giant eagle. (Current).
January 7, 2002... AKRON, Ohio -- FirstEnergy Solutions has signed a four-year contract with Giant Eagle, an Ohio Valley grocery store chain. FirstEnergy will supply electricity to 74% of Giant Eagle's stores and warehouse facilities in the Buckeye State. ...

UtiliCorp gets BC rate increase. (Current).
January 7, 2002... KELOWNA, British Columbia -- UtiliCorp Networks Canada said electricity rates in southern British Columbia have risen 4.5%, effective last week. The company--a UtiliCorp United subsidiary -- indicated that the BC Utilities Commission approved...

Susquehanna sets Nuclear record. (Current).
January 7, 2002... BERWICK, Pennsylvania -- PPL's Susquehanna nuclear plant set a record for electricity generation in 2001. The facility produced more than 17.8 billion kWh, breaking the record of 17.5 billion kWh set the previous year. The Susquehanna...

Natural Gas and Electricity Futures Trading.
January 7, 2002... NATURAL GAS AND ELECTRICITY FUTURES TRADING Trading Dates: December 31, 2001-January 4, 2002 New York Mercantile Exchange (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Thursday ...

Cash Market Hub Trading.
January 7, 2002... CASH MARKET HUB TRADING ($/MMBtu) Henry Hub, La. Jan. Feb. March April May June July August Sept. Oct. 1993 1.88 1.69 2.18 2.35 2.17 1.97 2.06 2.26 2.27 2.02 1994 2.34 2.71 2.21 2.04...

Natural Gas Rig Count.
January 7, 2002... NATURAL GAS RIG COUNT Jan. Feb. March April May June July 1998 Total 993 974 932 886 855 854 816 Gas 609 589 601 591 580...

M&NP, HubLine gain approvals; Projects to supply US Northeast. (Regional Market Roundup).
January 7, 2002... Maritimes & Northeast Pipeline and Algonquin Gas Transmission received final approval last week from the Federal Energy Regulatory Commission (FERC) for the Maritimes Phase III and Algonquin HubLine natural gas pipeline projects. The two...

Louisiana. (Regional Market Roundup).
January 7, 2002... Dominion will conduct an open season during the first quarter of 2002 to search for customers for high deliverability storage service from its Hackberry storage facility in southwest Louisiana. Dominion plans to construct compressor facilities...

Spot Prices on Interstate Pipeline Systems.
January 7, 2002... SPOT PRICES ON INTRASTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) January 7, 2002 This Weekly Bid Week Pipeline Week Change for Jan. ...

Illinois. (Regional Market Roundup).
January 7, 2002... Williams Energy Partners (WEP) purchased a natural gas liquids (NGL) pipeline from Aux Sable Liquids Products for $8.9 million. The pipeline is an 8.5-mile, 8-inch diameter line that extends from Aux Sable's gas processing plant in Channahon,...

Texas. (Regional Market Roundup).
January 7, 2002... Southern Union announced that its Southern Transmission subsidiary sold its Carrizo Springs pipeline to Midland, Texas-based West Texas Gas. Carrizo Springs consists of 43 miles of eight- and six-inch diameter pipeline located in Maverick...

Gulf of Mexico. (Regional Market Roundup).
January 7, 2002... Lafayette, Louisiana-based Stone Energy completed an acquisition of interest in eight producing oil and gas properties and related assets located in the Gulf of Mexico. The transaction was completed on the last day of 2001 for a purchase price...

Analysts Bullish on East Coast, but programs still in infancy. (Canadian Markets).
January 7, 2002... Analysts are predicting exploration and development activity on the East Coast of Canada will increase dramatically in the coming year and beyond, with several new projects and over C$2.5 billion in exploration work commitments on 33.4 million...

Rig count. (Canadian Markets).
January 7, 2002... There were 341 rigs drilling for natural gas and oil in Western Canada as of Jan. 2, an decrease of 29 from two weeks ago, when the Canadian Association of Oilwell Drilling Contractors (CAODC) released is last survey. During the same...

Working gas. (Canadian Markets).
January 7, 2002... Working gas in all Canadian storage facilities decreased to 89.6% of capacity as of Dec. 28, up from 91.2% a week ago, according to the most recent data available from the Canadian Gas Association (CGA). Canadian storage facilities were...

The composite spot import price. (Canadian Markets).
January 7, 2002... The composite spot import price this week is US$2.47/MMBtu for gas leaving Canada and entering the United States through six border crossing points. Natural Gas Week's Jan. 8, 2001, average for Canadian exports was US$9.13/MMBtu. ...

Canadian Price Report.
January 7, 2002... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) JANUARY 2001 BRITISH COLUMBIA ALBERTA Huntingdon/ Kingsgate/ ...

Gulfstream seeks phased-in plan.
January 7, 2002... Gulfstream Natural Gas last week asked federal regulators to allow it to phase in portions of the massive pipeline project that stretches across the Gulf of Mexico. In a filing with the Federal Energy Regulatory Commission (FERC),...

Gas Price Trends.
January 7, 2002... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO TEXAS Gulf Coast ...

Rising snowpack in Pacific NW drain prospects for Gas demand.
January 7, 2002... The year-long drought in the Pacific Northwest is over, and with it a significant bullish factor for natural gas. Natural gas markets should suffer upwards of 250 Bcf of lost demand in 2002 due to the rapidly improving situation for western...

Sold! (Late News).
January 14, 2002... UBS Warburg last Friday wins EnronOnline (EOL), heart of Enron's still-warm carcass, for undisclosed sum. EOL, once viewed as indispensable to gas and power trading, is fast being left in dust as trading goes on elsewhere with nary a hiccup in...

How low will it go? (Late News).
January 14, 2002... US commodity prices taking affect on domestic drilling, as least productive rigs taken out of service. Baker Hughes reports 719 rigs in US drilling for natural gas, lowest since 716 reported on Jul. 14, 2000.

Yucca gets nod. (Late News).
January 14, 2002... US Energy Secretary Spencer Abraham chooses Yucca Mountain in Nevada to be nation's burial site for thousands of tons of nuclear waste. Abraham concluded site -- 80 miles northwest of Las Vegas -- "scientifically sound and suitable" as...

Ready. Set. Drill. (Late News).
January 14, 2002... Grey Wolf, subsidiary of Abraxas Petroleum, to spud first well of six-well program to be drilled on its prolific Ladyfern prospect in British Columbia this winter.

Millennium meets new struggle in charge of environmental racism.
January 14, 2002... When is a pipeline not just a pipeline? When the pipeline comes to represent a myriad of perceived opportunities and ills in the minds of those most affected by its construction. The case of the Millennium Pipeline -- which was recently...

Gas storage at a crossroads, but time running out on winter.
January 14, 2002... There is very little time remaining for a sustained cold snap in key consuming regions to significantly strengthen natural gas prices this winter, and with bearish fundamentals permeating the marketplace, many observers are already beginning to...

Market will have to wait longer for expected gas supply fall.
January 14, 2002... Gas industry pundits hold as an article of faith that supply will fall in the coming year due to a steady drop in drilling, one of the few grounds for bullishness in an otherwise dreary market. But many are set to be disappointed with the pace...

UBS buys enron trading stake; firm beats out rival Citigroup. (Enron Fallout).
January 14, 2002... Enron and its creditors chose Swiss bank UBS to buy a 51% stake in the collapsed energy giant's main trading business, after a drawn-out auction that was concluded in overtime last Friday morning. Although it was known that UBS was a...

Enron's moves creating scandal; Andersen, lay at probe's center. (Enron Fallout).
January 14, 2002... Is the Enron situation evolving from a financial crisis to a political scandal replete with financial connections to senior government officials and flavored with criminal charges? Disclosures last week of a plethora of events, largely on...

Ex-Enron employees organizing; seek funds, creditors' voice.
January 14, 2002... Various groups of former, retired, and laid-off Enron employees are beginning to fight back, demanding the once giant trading company either to pony up funds Enron owes them, restore their vanished retirement accounts, or otherwise make...

Judges move on California cases.
January 14, 2002... Federal regulatory judges last week moved forward on cases involving power refunds in California and the question of whether El Paso withheld pipeline capacity on its system serving the Golden State. Federal Energy Regulatory Commission...

Group unveils Desert Crossing; Pipe, cavern to serve Southwest.
January 14, 2002... The fastest growing gas consuming region in North America -- the Southwest, and specifically the Las Vegas area -- could get a new source of supply in the form of a salt cavern storage project and associated pipeline that could provide...

Major market prices: January 14, 2002.
January 14, 2002... MAJOR MARKET PRICES January 14, 2002 ($/MMBtu) This Weekly Bid Week Week Change for Jan. Chicago City Gate 2.25 -0.30 2.68 New York City Gate 2.77 -1.14 3.91...

California officials sue PG&E; Claim utility funded affiliates.
January 14, 2002... California state officials claim that their lawsuit against PG&E Corp., the parent company of Pacific Gas & Electric (Pacific Gas) utility, is a result of fraudulent business practices and broken promises to the state. But the suit is more...

Spot prices on intrastate pipeline systems: Delivered-to-Pipeline ($/MMBtu) January 14, 2002.
January 14, 2002... SPOT PRICES ON INTRASTATE PIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) January 14, 2002 This Weekly Bid Week Pipeline Week Change for Jan. Louisiana...

Balance sheet surgery needed; Enron effect carries into '02.
January 14, 2002... The Enron collapse is forcing US power producers and traders to focus on shoring up balance sheets and rebuilding confidence with shaken investors in the first half of 2002. As a result, US energy companies are shelving a growing number of...

Salt cavern storage.
January 14, 2002... SALT CAVERN STORAGE (Billion Cubic Feet) Jan 4 MMcfd MMcfd Bcf Bcf Facility State Max ...

Prices and differentials for Major hubs and Selected city gates: January 14, 2002.
January 14, 2002... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES January 14, 2002 US$/MMBtu Sumas, Wash. $1.96 Malin Ore. $2.06 Los Angeles City Gate $2.63 AECO-C Hub $1.90 Kingsgate,...

2002 gas price outlook: January 14, 2002/Week 2.
January 14, 2002... 2002 GAS PRICE OUTLOOK January 14, 2002/Week 2 Wellhead $2.33 Delivered-to-Pipeline $2.46 12-Month Strip Nymex $2.510 NOTES: (1)Prices are in $/MMBtu and are for the calendar year. The cashprice...

Unocal, Spinnaker lead in Deep gas drilling. (E & P Update).
January 14, 2002... The US Gulf of Mexico shelf is gaining a new life through deep gas drilling, where oil and gas companies target larger gas fields in shallow waters more than 15,000 feet below the sea floor. The most heavily drilled offshore province, the...

Gas rigs vs. total rigs.
January 14, 2002... Gas Rigs Vs. Total Rigs Total Rigs Gas Rigs 1/1/96 993 609 1/1/99 587 461 1/1/00 774 631 1/1/01 1118 879 12/7/01 928 769 12/14/01 907 756...

NSR consideration raises Ire in Northeast. (Current).
January 14, 2002... The emissions hit the fan last week over possible changes by the Bush administration to air pollution rules for electric power plants, with the attorneys general from six northeastern states threatening legal action and prominent senators...

Cancelled contracts attract Beacon.
January 14, 2002... The list of casualties from the much-publicized collapse of energy trader Enron is extensive; but so is the number of opportunities created and companies poised to step into those opportunities. McLean, Virginia-based energy consultant...

MISO, PJM Eyeing Joint Market. (Current).
January 14, 2002... CARMEL, Indiana and VALLEY FORGE, Pennsylvania -- The Midwest Independent Transmission System Operator (MISO) and PJM Interconnection drafted a letter of intent expressing their desire to create a joint wholesale electricity market for much of...

El Paso expanding Linden plant. (Current).
January 14, 2002... LINDEN, New Jersey -- El Paso said it expects to complete the expansion of a gas-fired plant in Linden, New Jersey, by the middle of this month. The expansion unit -- which is being built by El Paso's Merchant Energy unit -- will add 172 MW to...

MidAmerican picks Iowa plant site. (Current).
January 14, 2002... COUNCIL BLUFFS, Iowa -- MidAmerican Energy announced last week that Council Bluffs, Iowa, is the preferred site for a 900-MW coal-fueled electric generating plant the company is planning to build. The development of the $1.4 billion plant will...

FPL brings on Wind Power Projects. (Current).
January 14, 2002... ODESSA, Texas and WALLA WALLA, Washington -- FPL Energy began full operation last week of two large wind power plants, one in Texas and the other in Washington state. The company said the two plants -- the 278-MW King Mountain Clean Energy...

Comparative fuel prices.
January 14, 2002... COMPARATIVE FUEL PRICES (Cash Market) January 14, 2002 EAST COAST Natural Gas New York Harbor: New York Heating Residual Residual City Gate Oil--No. 2 (*) 0.3% 1% ...

Natural gas and Electricity futures trading: Trading Dates: January 7-January 11,2002.
January 14, 2002... NATURAL GAS AND ELECTRICITY FUTURES TRADING Trading Dates: January 7-January 11,2002 New York Mercantile Exchange (NYMEX) (Henry Hub) Monday Tuesday Wednesday Thursday Last/Volume...

Cash market Hub trading.
January 14, 2002... CASH MARKET HUB TRADING ($/MMBtu) Henry Hub, La. Jan. Feb. March April May June July 1993 1.88 1.69 2.18 2.35 2.17 1.97 2.06 1994 ...

Natural gas rig count.
January 14, 2002... NATURAL GAS RIG COUNT Jan. Feb. March April May June July August Sept. 1998 Total 993 974 932 886 855 854 816 792 774 Gas 609 589 601 591 580 585 549 565 559...

Duke brings on Colorado plant, Increases processing capacity. (Regional Market Roundup).
January 14, 2002... Duke Energy Field Services (DEFS) said last week that it completed start-up testing operations and began commercial operations at its new Platteville natural gas processing plant in Platteville, Colorado. The Platteville plant -- located...

Wyoming. (Regional Market Roundup).
January 14, 2002... A Williams unit has completed the upgrade of its Echo Springs natural gas plant near Wamsutter, Wyoming. The $45 million upgrade project added a third cryogenic gas processing unit to expand the processing capacity of the plant to 390...

Massachusetts. (Regional Market Roundup).
January 14, 2002... Tennessee Gas Pipeline (TGP), a subsidiary of El Paso, has accepted a certificate from the Federal Energy Regulatory Commission (FERC) authorizing construction of the Dracut Expansion Project. The $35 million Dracut project will expand the...

Kinder Morgan Energy Partners (KMEP) increased its stake in the 1,900-mile US-Canadian Cochin Pipeline System. (Regional Market Roundup - Alberta).
January 14, 2002... Kinder Morgan Energy Partners (KMEP) increased its stake in the 1,900-mile US-Canadian Cochin Pipeline System to 45% with the purchase of the 10% stake held by Calgary-based Nova Chemicals. The US$29 million deal is expected to close in...

Texas Eastern Products Pipeline (TEPPCO) will purchase the Chaparral and Quanah pipelines from a pair of Diamond-Koch. (Regional Market Roundup).
January 14, 2002... Texas Eastern Products Pipeline (TEPPCO) will purchase the Chaparral and Quanah pipelines from a pair of Diamond-Koch partnerships for $130 million. The transaction is expected to dose next month and immediately add to TEPPCO's income and cash...

Spot prices on Interstate Pipeline Systems -- Part 1 & Part 2. (Regional Market Roundup).
January 14, 2002... SPOT PRICES ON INTERSTATEPIPELINE SYSTEMS Delivered-to-Pipeline ($/MMBtu) January 14, 2002 PART 1 This Weekly Bid Week Pipeline Week...