Natural Gas Week articles from May 2008

Natural Gas Week archives from May 2008

Natural gas weekly spot prices.
May 5, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 4/29-5/5 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

BLM leasing plans draw unusual fire of late in Nevada, Colorado.
May 5, 2008... Over the past two weeks, the Bureau of Land Management's quarterly cycle of oil and gas lease sales in Nevada, Colorado and other western states has faced an unusual amount of criticism. Among the more novel: conservation-minded experts...

Chemical business-cycle downturn could be bearish for gas market.(Industry overview)
May 5, 2008... After a decade of economic growth, the US chemical industry is bracing itself for a possible downturn in its business cycle. Worries about a slowdown in the US, skyrocketing natural gas prices, the security of future energy supplies, and the...

Industry leaders, experts push cleaner natural Gas Technology.
May 5, 2008... As debate brews over carbon control legislation to be considered in Congress this summer, natural gas industry leaders are stepping up efforts to push efficient gas technologies that could potentially reduce carbon emissions and lower prices...

Shell unit inks pact with mariner union to hire more US LNG crews.
May 5, 2008... A simple signing ceremony last week means a wider door has been opened for US officers and crews to find jobs on the growing international LNG tanker fleet. A memorandum of understanding between Shell Ship Management Limited and the...

PNM pressured.(Late news ...)
May 5, 2008... PNM pressured: In an effort to shore up its finances in the wake of divesting merchant plants and disappointing regulatory decisions, PNM Resources' Albuquerque-based utility, Public Service New Mexico (PNM), has entered into two binding...

Pennsylvania project.(Late news ...)
May 5, 2008... Pennsylvania project: Exelon Power, a unit of mega-utility Exelon Corp., will pursue the development of a 600-MW natural gas-fired power plant in Pennsylvania. Exelon is looking at potential sites for the $700 million project and hopes to have...

Neptune update.(Late news ...)
May 5, 2008... Neptune update: Marathon Oil Chief Executive Clarence Cazalot says the delayed Neptune project in the Gulf of Mexico could begin production in the third quarter and that operator BHP reports the repair design is continuing. An unspecified...

Bentek study warns gas storage overbuilt in SE, along Gulf Coast.
May 5, 2008... A study released Friday by Bentek Energy paints an interesting picture for the Southeast and the Gulf Coast by suggesting that the natural gas storage projects currently planned in the region could add more deliverability than outbound...

Intrastate weekly spot prices.
May 5, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 4/29-5/5 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

Despite a reversal of fortune, Cheniere's CEO retains optimism.
May 5, 2008... Cheniere Energy Chief Executive Charif Souki may have retained his optimism about the prospects of the US LNG business in general and his company in particular, but investors don't share his enthusiasm. Cheniere's common shares have fallen...

Prices and differentials for major hubs and selected city gates.
May 5, 2008... May 5, 2008 US$/MMBtu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 4/28 4/29 4/30 5/1 5/2 HH-NY +0.83 +0.92 +0.93 +0.81 +0.67 HH-Chicago +0.08 +0.13 +0.01 +0.01 +0.04 AECO-CHIC...

Something new: May gas contract expires over $11; June wobbles.
May 5, 2008... Nymex gas futures made a historic move last week, rolling off the board at more than $11/MMBtu--a first for the May contract. Fundamental issues like supply and demand don't seem to matter much in a momentum driven market, as June gas...

Composite spot wellhead price.
May 5, 2008... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2008 7.83 8.30 9.03 9.86 2007 6.25 7.79 6.52 7.07 7.34 7.03 6.03 6.10 5.53 6.49...

Speakers: natgas demand poised for explosive generation growth.
May 5, 2008... "We always predict natural gas prices incorrectly," said MIT economics professor, Paul Joskow, at EIA's 2008 Energy Conference held recently in Washington. And if you believe Joskow and many other conference speakers, predicting the course...

Natural gas futures.
May 5, 2008... NATURAL GAS FUTURES Trading Dates: April 28 - May 2 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Study: natural gas generation tops in water usage efficiency.
May 5, 2008... Natural gas came out on top in a recent survey measuring the water efficiency of most common energy sources and power generating methods. The study was released by Tamim Younos, a professor at Virginia Tech and undergraduate student...

North American weekly gas storage.
May 5, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Region Apr. 25 Apr. 18 Weekly Year Yr. Ago 5-year 5-year US Week Week Change Ago Change Average Change East 652 598 54...

Natural gas bidweek prices.
May 5, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 5/1-5/30 Price Point May Chg. High Low Avg. From $/MMBtu Prev. GULF COAST ANR SE ...

Buzzard field production boosts Nexen profits by more than 400%.(Financial report)
May 5, 2008... A field in the North Sea has turned into a red hot property for Nexen as the company reported a first-quarter profit increase of more than 400%. The oil and natural production from its Buzzard field in the North Sea more than compensated for...

NGW's monthly weighted averages.
May 5, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Apr-08 Mar-08 Feb-08 Jan-08 Dec-07 Nov-07 Gulf Coast ANR SE 10.20 9.41 8.53 7.87 7.08 7.01 Col. Gulf - Erath 10.04 ...

Georgia Power takes lead in nuke development.(Current)
May 5, 2008... Potential nuclear plant developers beware: Of a half-dozen representatives from utilities attending the Nuclear Energy Institute's Word Nuclear Fuel Cycle conference in Miami, not one had a firm, fixed-price offer on a new nuclear reactor. ...

FPL to retrofit oil-gas burning plants with gas-fired turbines.(Current)
May 5, 2008... Florida Power & Light unveiled plans last week to convert its Cape Canaveral and Riviera Beach power plants to solely burn natural gas and by doing so, reduce emissions and costs. "Modernizing these two power plants to high-efficiency...

PPL unit renovating hydroelectric plant.(Current)
May 5, 2008... PPL said last week that a subsidiary will renovate and recommission its Orono, Maine, hydroelectric plant, adding 20,000 MW-hours per year of renewable electricity to the region's power supplies. The new renewable energy is another benefit...

US Geothermal buys Nevada plant, land.(Current)
May 5, 2008... US Geothermal has completed a transaction with Michael B. Stewart and Empire Geothermal Power to acquire a 3.6-MW geothermal power plant and about 28,358 acres--roughly 44.3 square miles--of geothermal energy leases and ground water rights...

Spot electricity trading.(CURRENT)
May 5, 2008... SPOT ELECTRICITY TRADING Trading Dates: April 28-May 2, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
May 5, 2008... COMPARATIVE FUEL PRICES (Cash Market) May 5, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $99.50/ton $11.21/MMBtu $4.15/MMBtu ...

Coalition forming against Ruby Pipeline route in northern Utah.(Regional Market Roundup)
May 5, 2008... Opposition in Utah against the Ruby Pipeline project is growing and becoming more organized with members encouraging land owners to deny access to survey parties. The Stop the Ruby Pipeline coalition, including ranchers, farmers,...

Baker hughes rig count.(Regional Market Roundup)
May 5, 2008... BAKER HUGHES RIG COUNT Week Ended May. 2 Rotary Rigs Current Previous Year Week Week Ago Total US 1,839 1,842 1,747 Land ...

Gas price trends.(Regional Market Roundup)
May 5, 2008... GAS PRICE TRENDS ($/MMBtu) CALIFORNIA ROCKY MTNS NEW MEXICO South North May 5, 2008 Inter (well) -- -- 8.64 9.09 Intra (well) 9.70 --...

Alberta royalty doldrums boon to British Columbia, Saskatchewan.(Canadian Markets)
May 5, 2008... Changes in Alberta's royalty regime still are discouraging an upturn in drilling in Canada's major producing province despite strong commodity prices, but activities are picking up in neighboring areas of the Western Canadian Sedimentary Basin...

Human rights watchdog blasts Chevron ties to Myanmar regime.(World Roundup)
May 5, 2008... California-based oil major Chevron can be held legally accountable for ongoing human rights abuses in the regions surrounding the Yadana natural gas pipeline project in Myanmar, according to a report released last week by human rights group...

LNG cost increasingly linked to oil price.(World Roundup)
May 5, 2008... LNG is definitely not the cheap source of energy many once thought, nor is it likely to be in the future. "Buyers are increasingly prepared to pay prices for LNG which are close to oil price equivalent," Woodside Chairman Michael Chaney...

Shell outlines Iraqi gas development.(World Roundup)
May 5, 2008... Royal Dutch Shell is laying out ambitious plans for Iraqi gas exports, starting with a modest 400 million cubic feet per day over the next four to seven years, possibly rising to 2 billion cubic feet per day by the end of the next decade. ...

Canadian price report.(World Roundup)
May 5, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Huntingdon/Sumas Kingsgate/Eastport Province Border ...

April tropical season forecasts high on stats, but low on skill.
May 5, 2008... On the wall of EIG's Houston bureau is a cartoon depicting William Gray as a wizard hunched over a crystal ball pronouncing "Verily... I see seventeen named storms!" But as amusing as that is, the now emeritus, former head of the Colorado...

Natural gas weekly spot prices.
May 12, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/6-5/12 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

Colorado, New Mexico mull ways to protect species, tighten regs.
May 12, 2008... Colorado regulators are proposing a new set of oil and gas drilling restrictions for upcoming years that would place three-month seasonal production bans during wildlife breeding and hibernation periods in areas populated by at least one of...

Exxon Mobil project highlights game change in CO2, H2S removal.
May 12, 2008... Exxon Mobil has developed a process that will remove carbon dioxide, hydrogen sulfide and other impurities from a natural gas production stream in a single step at a significantly lower cost than possible with current technology. The...

Production data points to record rebuild for natural gas storage.
May 12, 2008... With US gas inventories exiting a drawn-out winter at an unexpectedly low 1,230 billion cubic feet--just below the five-year average--bulls have had a strong fundamental to underpin the recent gas rally. But the real math shows that the US...

API: climate bill could cut gas production, move jobs overseas.
May 12, 2008... The American Petroleum Institute last week released a new study projecting what they see as a number of disastrous impacts on energy supplies, especially for natural gas, that could result if the US Senate's carbon control legislation scheduled...

Spending increased.(Late news ...)
May 12, 2008... Spending increased: The 2006 Joint Association Survey on Drilling Costs shows that the oil and natural gas industry in the US spent about $110 billion on drilling and equipping wells. The report shows that the energy industry spent 44% more in...

Land acquired.(Late news ...)
May 12, 2008... Land acquired: The Williams Cos. is buying a 24,000-acre stake in Colorado's Piceance Basin from SandRidge Energy and several private companies for $285 million. Williams already owns 170,000 acres in the region and company officials said the...

Hub remains offline.(Late news ...)
May 12, 2008... Hub remains offline: Operations at the Independence Hub platform and the Independence Trail pipeline remain suspended as repairs continue on a leak in a flex joint. The flex joint is in about 85 feet of water in the Gulf of Mexico and connects...

Independents continue to jostle for position in emerging shales.
May 12, 2008... Announcements by Chesapeake Energy, Devon Energy and EOG Resources over the last two weeks have highlighted the asset recognition and rationalization challenges that North American independents continue to face as more and more shale gas and...

Intrastate weekly spot prices.
May 12, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/6-5/12 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

Newfield, Exxon Mobil forming second South Texas joint venture.
May 12, 2008... Mid-size independent Newfield Exploration and super major Exxon Mobil have formed a joint venture to exploit a South Texas natural gas play, the second such arrangement the two companies have formed in the past three years. The deal covers...

Prices and differentials for major hubs and selected city Gates.
May 12, 2008... SELECTED DAILY DIFFERENTIALS Differential 5/5 5/6 5/7 5/8 5/9 HH-NY +0.86 +0.91 +0.92 +0.86 +0.79 HH-Chicago +0.03 -0.02 +0.04 +0.12 +0.06 AECO-CHIC +1.03 +0.99 +1.25 +1.40 +1.19 AECO-PG&E...

UK group joining US counterparts to advance tight gas production.(Conference notes)
May 12, 2008... The UK-based Industry Technology Facilitator has launched five separate Joint Industry Projects to tap the full potential of tight gas reserves. The $4 million research initiative is with two US-based research groups, with the remaining...

North American weekly gas storage.
May 12, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) May Apr. Weekly Year Yr. 5-year 5-year 2 25 Ago Region Week Week Change Ago Change Average...

Speeding train: $126 oil lifting June NatGas contract ever higher.
May 12, 2008... On the back of historic $126 oil prices, Nymex gas futures muscled to their highest point since December 2005, when prompt-month prices surged to nearly $16. Now trading in the $11 range, June gas futures are seemingly immune to the normal...

Natural gas futures.
May 12, 2008... NATURAL GAS FUTURES Trading Dates: May 5 - May 9 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Tropical warning: uncoventional forecast warns of high Gulf risk.
May 12, 2008... It didn't get a lot of attention from the outside world last week, but a very unconventional, two-page forecast by a small Houston-company was the buzz of the Offshore Technology Conference in Houston last week. The Weather Research Center...

Pipeline capacity utilization.
May 12, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow May (2008) May (2007) Month-to-Date Month-to-Date Transco Zone 6 NY 5/5/2008 1,224,910 1,304,962 1,373,599...

Despite flak, Entergy says nuclear spinoff a go.(CURRENT)
May 12, 2008... Despite objections by the New York State attorney general's office and environmental groups, Entergy, one of the nation's largest nuclear plant owners, says it is on track to spin off its unregulated reactors by October. Entergy wants to...

Georgia Power reveals cost of new Gen III+ nuke to top $12 B.(CURRENT)
May 12, 2008... Although required by Georgia Public Service Commission (PSC) rules, no bids were received in response to Georgia Power's recent base load capacity request for proposals to compete with its $6.4 billion share--nearly half the costs--of its...

Spot electricity trading.(CURRENT)
May 12, 2008... SPOT ELECTRICITY TRADING Trading Dates: May 5-May 9, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
May 12, 2008... COMPARATIVE FUEL PRICES (Cash Market) May 12, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $104.00/ton $11.62/MMBtu $4.33/MMBtu...

Millennium pipeline online by winter; link in grid expansion.(Regional Market Roundup)
May 12, 2008... In the words of Millennium Pipeline President Dick Leehr, "We are real. We are bringing new energy to the Northeast. We will be in service to serve New York markets this winter." Millennium Pipeline has secured all the pipeline contractors...

Baker Hughes rig count.(Regional Market Roundup)
May 12, 2008... BAKER HUGHES RIG COUNT Week Ended May. 9 Rotary Rigs Current Previous Year Week Week Ago Total US 1,846 1,839 1,740 Land ...

Gas price trends.(Regional Market Roundup)
May 12, 2008... GAS PRICE TRENDS ($/MMBtu) CALIFORNIA ROCKY MTNS NEW MEXICO South North May 12, 2008 Inter (well) -- -- 8.40 8.97 Intra (well) 9.68 --...

Canadian production continues drop; NatGas storage also down.(Canadian Markets)
May 12, 2008... April production in the Western Canadian Sedimentary Basin (WCSB) reached a year-to-date high of almost 16.3 billion cubic feet per day, but that month is typically the seasonal peak in a given calendar year as it is at the end of the winter...

Developments bode well for LNG output rising in Indonesia, Egypt.(World Roundup)
May 12, 2008... LNG markets look set to receive modestly increased LNG supply from Indonesia this year for the first time in years, easing a bit an ongoing global supply squeeze in a year that is also expected to see nearly 2.7 billion cubic feet per day in...

Canadian price report.(World Roundup)
May 12, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Total Huntingdon/Sumas Kingsgate/Eastport Province Border ...

Gulf role as resource play only growing with deepwater activity.
May 12, 2008... The deepwater frontier region of the Gulf of Mexico is playing an even larger role in oil and gas production from the region and the trend is for that growth to continue. That is one of the conclusions of a new federal study of the Gulf of...

Natural gas weekly spot prices.
May 19, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 5/13-5/19 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg....

Oregon weighs LNG with Rockies supply; Becomes campaign issue.
May 19, 2008... Just a few months ago, opposition to three LNG terminals planned off in Oregon was limited to the idea that only one terminal was needed to meet consumer demand. And in the eyes of state officials, the federal approval process under way for...

Kinder Morgan opening Rex-West last leg flow to Midwestern pipes.
May 19, 2008... Moving Rockies natural gas supplies as far eastward as central Missouri, the second and final arm of the Rockies Express West pipeline is ready to come online, according to project co-owners Kinder Morgan, Sempra and ConocoPhillips. ...

Traders mull slew of gas market events; Contract losing altitude.
May 19, 2008... Energy traders had a lot to digest last week as Congress passed measures to regulate over the counter markets, AccuWeather's Hurricane Summit forecasted a somewhat active tropical season, and IntercontinentalExchange went blank. Meanwhile, June...

Gazprom gets stake in Quebec's Rabaska, North American foothold.
May 19, 2008... Russian natural gas super major Gazprom finally has a stake in the North American natural gas sector and Rabaska, the LNG import terminal proposed for near Montreal, Quebec, has the badly needed supply source that should move it from concept to...

Report delayed.(Late news ...)(Report)
May 19, 2008... Report delayed: A key regulatory report for the $16.2 billion Mackenzie Gas Project is being delayed by several months, pushing the start-up date for the stalled project back again, according to Imperial Oil, the lead company in the project....

Storm preparations.(Late news ...)
May 19, 2008... Storm preparations: Federal officials said the Gulf of Mexico is ready for the 2008 hurricane season, including a new effort to strengthen "high-consequence" structures in the US Gulf of Mexico. "We are much better prepared than we were three...

Financial problems, cancellations hit merchant LNG terminals hard.
May 19, 2008... Prospects for merchant LNG receiving terminals in North America are not too good these days, as the plunge in Cheniere Energy's stock price illustrates. The company's shares dropped as low as $3.65 after it recorded a $50 million loss in the...

Intrastate weekly spot prices.
May 19, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 5/13-5/19 Avg. Avg. May Price Daily Daily Bid Point $/MMBtu Chg. High...

Offshore drilling industry about to explode; Deep Gulf a hot spot.
May 19, 2008... The global offshore drilling industry is expected to grow by about 50% over the next four years. That was the finding of a market intelligence report commissioned by Scottish Enterprise and released at the recent Offshore Technology...

Prices and differentials for major hubs and selected city gates.
May 19, 2008... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES May 19, 2008 US$/MMBtu, Volume-Weighted [ILLUSTRATION OMITTED] SELECTED DAILY DIFFERENTIALS Differential 5/12 5/13 5/14 5/15 5/16 HH-NY ...

Methane hydrate research takes off as Japanese unlock its secrets.(Conference notes)
May 19, 2008... Once seen as nothing more than problem drillers encountered, methane hydrates are increasingly becoming recognized as a huge potential energy source for the world. Methane hydrates, found in abundance around the world, are naturally...

North American weekly gas storage.
May 19, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) May May Yr. 9 2 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

OTC survey: higher salaries can work against worker recruitment.
May 19, 2008... A lack of skilled people is the largest recruiting difficulty facing the energy industry today. That is the short version of the results of a survey taken on 100 energy companies at the recently held Offshore Technology Conference 2008 in...

Natural gas futures.
May 19, 2008... NATURAL GAS FUTURES Trading Dates: May 12 - May 16 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Energia Costa Azul LNG finishes testing; first West Coast terminal.(LNG Update)
May 19, 2008... Sempra LNG has hung the "open for business" sign out in front of its Energia Costa Azul LNG receiving terminal in Baja California after the facility completed its last round of performance tests. The facility is now ready for commercial...

LNG Netbacks to US & European terminals.(LNG Update)
May 19, 2008... LNG NETBACKS TO US & EUROPEAN TERMINALS May 2008 US$/MMBtu Trinidad Algeria Qatar Nigeria Oman US Lake Charles 9.23 8.91 8.16 8.74 8.25 Elba Island 9.91 9.67...

Prices for major Atlantic basin LNG hubs.(LNG Update)
May 19, 2008... PRICES FOR MAJOR ATLANTIC BASIN LNG HUBS ($US/MMBtu) * European gas prices are four-week spot averages from World Gas Intelligence. US gas prices are Natural Gas Week's volume-weighted composites from delivery first day of month through...

Experts weigh pitfalls in natural gas portfolios.(CURRENT)
May 19, 2008... Those charged with utility resource planning likely feel as though they are on the tail end of a losing streak where the cards are marked, but they don't know the code. And more than ever, natural gas is the wild card. The spark spread...