Natural Gas Week articles from September 2008

Natural Gas Week archives from September 2008

Natural gas weekly spot prices.
September 1, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 8/26-9/1 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

McCain's VP pick seen strategic: Obama focusing on alternatives.
September 1, 2008... Energy policy continued its starring role as a central topic in this year's presidential race as Democrats talked up Sen. Barack Obama's plans to tackle global warming and rising energy costs at their convention in Denver, Colorado, last week....

Mixed early winter forecasts mostly see cold start to season.
September 1, 2008... As usual, preliminary early winter forecasts vary widely for the 2008-09 season. Depending on whom you ask and what science you ascribe to, there's either a potentially cooler start followed by a warmer end to the coming winter--or vice-versa....

NatGas bears wrestle Hurricane bulls as Gustav takes bead on Gulf.
September 1, 2008... With about 15% of US gas and 25% of its crude oil produced in the Gulf of Mexico, the specter of a Hurricane Gustav ripping through Gulf oil and gas fields in the days ahead was enough to support prices last week. But in testament to just how...

Dueling Alaskan pipeline plans take field for North Slope prize.
September 1, 2008... The race to connect Alaska's northern natural gas fields to markets in the lower 48 states is heating up between Canadian pipeline company TransCanada and the state's two biggest oil producers. Alaska Gov. Sarah Palin signed legislation...

Mexico LNG.(Late news ...)
September 1, 2008... Mexico LNG: Sempra Energy has inaugurated the first LNG terminal on North America's west coast. The $1.2 billion project in Mexico will pump gas to both US and Mexican consumers. The Energia Costa Azul terminal, located just south of the...

Pipeline rupture.(Late news ...)
September 1, 2008... Pipeline rupture: Energy Transfer Partners' Oasis Pipeline remained shut Friday after a rupture Thursday on a portion of its 36-inch natural gas pipeline in a remote area of Texas between San Antonio and Austin. A company spokesperson said ETP...

Coal lawsuit.(Late news ...)
September 1, 2008... Coal lawsuit: The Sierra Club has filed suit to stop a consortium's plans to build a coal-burning power plant in Texas. The lawsuit, filed in a federal court against Sandy Creek Associates, a joint venture of Dynegy and LS Power Group, is the...

Intrastate weekly spot prices.
September 1, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 8/26-9/1 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High...

'Compelling Case' for new NGVs obvious in Colonial Williamsburg.
September 1, 2008... While taking a tour of the past at Virginia's Colonial Williamsburg, you'll be riding into the future. A fleet of natural gas buses ferries tourists to all the historic buildings. The last diesel bus left town eight years ago. The Colonial...

Prices and differentials for major hubs and selected city gates.
September 1, 2008... SELECTED DAILY DIFFERENTIALS Differential 8/25 8/26 8/27 8/28 8/29 HH-NY +0.51 +0.45 +0.38 +0.29 +0.29 HH-Chicago -0.04 -0.12 -0.18 -0.18 -0.18 AECO-CHIC +0.98 +0.84 +1.17 +1.28 +1.28 AECO-PG&E...

Alabama LNG terminal would use modified open-loop regas system.
September 1, 2008... The company behind an LNG terminal proposed for offshore Alabama says it has found a way to make open-loop LNG re-gasification technology more environmentally sound. Backers of the Bienville Offshore Energy Terminal say the new technology...

Composite spot wellhead price.
September 1, 2008... COMPOSITE SPOT WELLHEAD PRICE January 2004 to Present ($/MMBtu) Year Jan. Feb. Mar. Apr. May Jun. Jul. Aug. 2008 7.83 8.30 9.03 9.86 10.47 11.97 10.81 7.83 2007 6.25 7.79 6.52 7.07 7.34 7.03 6.03...

Precision drilling acquiring US peer Grey Wolf; reach expanding.
September 1, 2008... Canada's largest drilling firm, Precision Drilling Trust, has reached a deal to buy its US peer Grey Wolf for US$2 billion in cash and stock. The combined company will be one of the largest onshore oil and gas rig operators in North...

Natural gas futures.
September 1, 2008... NATURAL GAS FUTURES Trading Dates: August 25 - August 29 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last Volume...

Excelerate finds new business in LNG services; short spot supply.
September 1, 2008... When the former management team of what was then El Paso Energy Bridge and their financial backer acquired the business from the financially strapped former energy merchant in late 2003, they expected to be global merchants in the liquefied...

North American weekly gas storage.
September 1, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. Aug. Yr. 22 15 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Natural gas bidweek prices.
September 1, 2008... NATURAL GAS BIDWEEK PRICES Flow Dates: 9/1-9/30 September Chg. Prev. Price Avg. from Bid- Point $/MMBtu Prev. High Low ...

Ngw's monthly weighted averages.
September 1, 2008... NGW'S MONTHLY WEIGHTED AVERAGES $/MMBtu Price Point Aug-08 Jul-08 Jun-08 May-08 Apr-08 Mar-08 Gulf Coast ANR SE 8.24 11.20 12.59 11.21 10.20 9.41 Col. Gulf - Erath 8.33...

Obama, McCain tussle over US nuclear future.(CURRENT)
September 1, 2008... If Democrat Barack Obama is elected president in November, US nuclear energy policy could shift significantly from its path under President George W. Bush. Obama has expressed major reservations about the Bush administration's general...

Alabama Power cites 46% spike in NatGas prices for rate increase.(CURRENT)
September 1, 2008... Despite a fuel adjustment clause built into its rate base which allows it to recover fuel costs, Southern Co. subsidiary Alabama Power says rising natural gas and coal prices are forcing the utility to raise residential customer rates by 14.6%....

NorthWestern plans 200-MW NatGas plant.(CURRENT)
September 1, 2008... NorthWestern Energy, based in Helena, Montana, has begun the application process to build a 200-MW natural gas plant in the state to help foster reliability and support new wind power. The utility has applied for an air quality permit from...

Spot electricity trading.(CURRENT)
September 1, 2008... SPOT ELECTRICITY TRADING Trading Dates: August 25-August 29, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
September 1, 2008... COMPARATIVE FUEL PRICES (Cash Market) September 1, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $122.00/ton $8.42/MMBtu ...

Santa Barbara Board says chance remote for repeat of 1969 spill.(Regional Market Roundup)
September 1, 2008... Reflecting growing national support for offshore production, a group of local officials in southern California say the chance for the kind of oil spill that once ravaged their region's shoreline is improbable thanks to safer offshore extraction...

Baker Hughes rig count.(Regional Market Roundup)
September 1, 2008... BAKER HUGHES RIG COUNT Week Ended Aug. 29 Rotary Rigs Current Week Previous Week Year Ago Total US 2,031 1,998 1,829 Land 1,938 ...

Gas price trends.(Regional Market Roundup)
September 1, 2008... ($/MMBtu) CALIFORNIA ROCKY MTNS NEW MEXICO South North Sep 1, 2008 Inter (well) -- -- 4.21 6.50 Intra (well) 7.24 ...

Falling Canadian exports to hit markets much harder after 2015.(Canadian Markets)
September 1, 2008... Canadian natural gas exports to the US should begin tapering off noticeably by 2010 in the US Northeast and around 2015 in the US Midwest as Canadian supplies shrink and domestic demand grows for the remaining gas, according to a study by...

Methane hydrates may be key to South Korea NatGas Independence.(World Roundup)
September 1, 2008... A South Korean task force is set in November to submit updated reserve estimates for gas hydrates lying in the Ulleung Basin in the East Sea, which straddles South Korea and Japan, to the Ministry of Knowledge Economy. The government last...

Petrobras, Japan's Modec ink FPSO deal.(World Roundup)
September 1, 2008... Brazil's Petrobras has signed a letter of intent with Tokyo-based Modec for the supply, charter and operation of a floating production, storage and offloading (FPSO) vessel for use on the giant Tupi field in the offshore Santos Basin. The...

Japanese holding tough on LNG price.(World Roundup)
September 1, 2008... Japanese buyers have yet to fold in their struggle to avoid unimpeded oil price indexation for LNG contracts. Despite reports that Japanese utilities have agreed on renewed contracts for Indonesian LNG at $15-$16/MMBtu based on $100/bbl...

Canadian price report.(World Roundup)
September 1, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Gas productive capacity in relation to Hurricane Gustav's forecasted path.
September 1, 2008... [ILLUSTRATION OMITTED]

2005 redux: Gustav gooses gas expiration; Gulf industry braced.
September 1, 2008... As Natural Gas Week went to press, Hurricane Gustav was poised to plow through Central Gulf energy infrastructure, but it had already worked its magic on the market. Not only did it ignite an impressive rally in natural gas, it bolstered the...

Natural gas weekly spot prices.
September 8, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/2-9/8 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low Vol....

Natural gas projects butt heads with competing concerns in Utah.
September 8, 2008... Given Utah's vast natural gas and oil shale resources, producers have typically enjoyed a much friendlier relationship with regulators and land managers than the industry finds in many other states. Lately however, some producers have faced a...

Rockies prices plummet under $1 amid protested Rex maintenance.
September 8, 2008... In the midst of some highly protested pipeline system maintenance in the Rockies region, spot prices at many Rockies points collapsed last week, with some points averaging well under $1/MMBtu. "It didn't make any sense to schedule testing...

Gas oscillates; defies seasoned market trends and expectations.
September 8, 2008... Last week's laundry list of unusual trading activity in October natural gas futures proved again that there's never a dull moment in the natural gas business. [GRAPHIC OMITTED] "In my 20 years of trading natural gas, this is the first...

Louisiana power outages hinder Gustav recovery; light Gulf blow.
September 8, 2008... Producers were prepared for the worst last week when Hurricane Gustav swept through the Gulf of Mexico as a Category 3 storm. One-hundred percent of crude and 95.4% of natural gas production were shut-in in anticipation of the storm's arrival....

CEO recommendations.(Late news ...)
September 8, 2008... CEO recommendations: Business Roundtable, an association of chief executives of leading US companies with $4.5 trillion in annual revenue, sent a letter to Congress outlining its energy policy recommendations. The CEOs consider recent increases...

Bakken prospects.(Late news ...)
September 8, 2008... Bakken prospects: The largest landholder in the Bakken shale, Continental Resources, believes the region may hold a second, untapped productive zone that lies just beneath the Middle Bakken target zone. The company has completed its third and...

Bribery scandal.(Late news ...)
September 8, 2008... Bribery scandal: A former official of Halliburton's one-time KBR affiliate has pleaded guilty to charges of taking part in a scheme to bribe Nigerian officials from 1995-2004. Former KBR Chief Executive Albert Jackson Stanley faces seven years...

BLM drafts plan for Rockies oil shale; debate flares in Congress.
September 8, 2008... The Green River Formation, stretching across 46 million acres in Colorado, Utah and Wyoming, is known to contain more oil reserves in shale rock than Saudi Arabia's proven conventional oil resources. Unfortunately--or fortunately, depending on...

Intrastate weekly spot prices.
September 8, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/2-9/8 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

Prices and differentials for major hubs and selected city gates.
September 8, 2008... PRICES AND DIFFERENTIALS FOR MAJOR HUBS AND SELECTED CITY GATES September 8, 2008 US$/MMBfu, Volume-Weighted SELECTED DAILY DIFFERENTIALS Differential 9/1 9/2 9/3 9/4 9/5 HH-NY +0.52 N/A +0.89...

FERC says competing Alaska gas pipeline projects should merge.
September 8, 2008... The Federal Energy Regulatory Commission told Alaska state officials last week that commission staff would be severely strained if it had to handle two separate applications for a North Slope natural gas pipeline. Alaska Gov. Sarah Palin,...

Talisman reporting good results from Utica Shale well in Quebec.
September 8, 2008... Talisman Energy said last week that it is "encouraged" by results from its first successful well in one of North America's lesser-known emerging shale gas plays, after announcing it would shift more attention toward the continent's...

North American weekly gas storage.
September 8, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Aug. Aug. Yr. 29 22 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

BP hopping onto Fayetteville band wagon with Chesapeake asset buy.
September 8, 2008... Supermajor BP and independent Chesapeake Energy will team up in the Fayetteville Shale play of Arkansas, the companies announced last week. It is the second US shale deal of the year for the duo and a welcome infusion of cash for Chesapeake....

Natural gas futures.
September 8, 2008... NATURAL GAS FUTURES Trading Dates: September 2 - September 5 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

McCain would rely on market for greener US, Obama more hands-on.
September 8, 2008... Republican John McCain and Democrat Barack Obama are both employing the rhetoric of energy independence on the campaign trail this presidential election season to promote their policy proposals. But their approaches are anything but similar....

Pipeline capacity utilization.
September 8, 2008... PIPELINE CAPACITY UTILIZATION Location FlowDate Flow Sep. (2008) Sep. (2007) Month-to-Date Month-to-Date Transco 9/4/2008 1,328,343 1,255,090 1,248,564 Zone 6 NY ...

Regional renewables group strives to power west.(CURRENT)
September 8, 2008... Although the state of Colorado has long been home to the National Renewable Energy Laboratory, the state has arguably been best known for its prolific fossil fuels. Now, however, the Centennial State is rapidly gaining a reputation as a...

Crews scramble to repair power lines toppled by Hurricane Gustav.(CURRENT)
September 8, 2008... Hurricane Gustav's bluster robbed Louisiana's largest load centers of power last week--and for many probably for weeks to come--downing transmission lines between New Orleans and the state capital, Baton Rouge. Impacted Entergy subsidiaries...

Texas utility seeks to cover materials.(CURRENT)
September 8, 2008... TNMP has filed for an $8.7 million revenue increase in its latest effort to shore up its ailing transmission and distribution utility in Texas, PNM Resources. TNMP cited "the rising cost of poles, wire and other basic construction materials,"...

NY OKs Iberdrola purchase of Energy East.(CURRENT)
September 8, 2008... Although New York state regulators have unanimously approved Spanish power company Iberdrola's takeover of Energy East, Iberdrola wants to consider the state's requirements before moving ahead with the $4.5 billion transaction proposed a year...

Spot electricity trading.(CURRENT)
September 8, 2008... SPOT ELECTRICITY TRADING Trading Dates: September 2-September 5, 2008 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Avg. Price Avg. Price This Last Year Month POINT ...

Comparative fuel prices.(CURRENT)
September 8, 2008... COMPARATIVE FUEL PRICES (Cash Market) September 8, 2008 APPALACHIA Appalachian Pool Ohio/Big Sandy River Coal Dlvd (Util) $100.00/ton $7.75/MMBtu ...

FERC issues preliminary EIS for proposed LNG terminal in Oregon.(Regional Market Roundup)
September 8, 2008... The Federal Energy Regulatory Commission has released a draft environmental impact statement for the Jordan Cove LNG receiving terminal and associated natural gas pipeline proposed for Oregon. The FERC report concluded that the...

Baker Hughes rig count.(Regional Market Roundup)
September 8, 2008... BAKER HUGHES RIG COUNT Week Ended Sep. 5 Rotary Rigs Current Week Previous Week Year Ago Total US 2,013 2,031 1,814 Land 1,919 ...

Gas price trends.(Regional Market Roundup)
September 8, 2008... GAS PRICE TRENDS ($/MMBtu) ROCKY NEW CALIFORNIA MTNS MEXICO South North Sep 8, 2008 Inter (well) -- -- 2.91 5.40...

FirstEnergy storage survey shows WCSB NatGas storage filling fast.(Canadian Markets)
September 8, 2008... Canadian production may still be sliding downward, though at a slightly more moderate pace, but Canadian storage is getting close to the full mark, well ahead of the end of the injection season. In FirstEnergy Capital's most recent survey,...

Australia's NWS train 5 begins operations; major Asian supplier.(World Roundup)
September 8, 2008... The fifth train at Australia's massive North West Shelf (NWS) LNG project has begun production, according to companies involved in the joint venture. The new $2.1 billion train at the Karratha plant in Western Australia will add almost 600...

Japanese firms pay up for Trinidad cargos.(World Roundup)
September 8, 2008... Japanese buyers are showing a willingness to pay dearly for needed spot LNG supply from Trinidad, a prime source for US spot cargos. Japan's Mitsubishi has confirmed buying an August cargo in Trinidad at a reported price of $18/MMBtu....

Exxon may appeal ban of advertisement.(World Roundup)
September 8, 2008... Exxon Mobil may appeal a decision by Britain's Advertising Standards Authority to ban it from showing a TV advertisement saying gas is one of the cleanest fuels. Viewers challenged Exxon's claim that "natural gas is one of the world's...

Canadian price report.(World Roundup)
September 8, 2008... CANADIAN PRICE REPORT ($U.S. per MMBtu/$Can per Gigajoule) BRITISH COLUMBIA Huntingdon/ Kingsgate/ Total Sumas ...

Curiouser and curiouser: Gustav wrath, Ike approach discounted.(World Roundup)
September 8, 2008... The market may have fallen down the rabbit hole with Gustav. Who would have thought the market would fall so hard early this week even when Gulf energy infrastructure appeared to have taken a hit hard enough to knock the LOOP oil import...

Natural gas weekly spot prices.
September 15, 2008... NATURAL GAS WEEKLY SPOT PRICES Flow Dates: 9/9-9/15 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu High Low Vol. Deals...

Alaska Governor seeks input of major producers on gas pipeline.
September 15, 2008... Alaska Governor Sarah Palin, the Republican vice-presidential nominee, is reaching out to the state's biggest oil producers about participating in a North Slope natural gas pipeline project being led by TransCanada. The governor's office...

Congress dashing to compromise before OCS ban expires on Sep. 30.
September 15, 2008... The congressional ban on oil and natural gas production in the US Outer Continental Shelf (OCS) expires in two short weeks. And given the recent tide of US leaders who have come out in favor of expanded access to domestic energy reserves,...

Markets call Gustav, Ike bearish; 2008 storm season winding down.
September 15, 2008... So far, the 2008 hurricane season has proved to be a much more active season compared to the past couple of years. However, as the season winds down, Hurricane's Gustav and Ike have been vastly different from Hurricane's Katrina and Rita,...

Hurricane Ike sets its sights on Gulf coast of Texas, Houston.
September 15, 2008... A major refining and petrochemical hub located along the Houston Ship Channel was in Hurricane Ike's direct line of fire at press time Friday. Nearly a half-dozen refineries had begun shutting in operations as the storm inched closer to the...

Storm update.(Late news ...)
September 15, 2008... Storm update: Hurricane Ike was expected to come ashore the Texas Gulf Coast as a Category 2 or 3 storm with 100 mph winds and a possible 20-foot-plus storm surge early Saturday morning. The storm was expected to plow through the Houston Ship...

Nuke closure.(Late news ...)
September 15, 2008... Nuke closure: The South Texas Project nuclear power plant near Bay City near the Texas Gulf Coast will shut if hurricane-force winds reach the area, the US Nuclear Regulatory Commission said on Friday. Hurricane-force winds are 74 mph and...

New find.(Late news ...)
September 15, 2008... New Find: Brazil's Petrobras said it made a major subsalt oil discovery. The Iara field holds between 3 billion and 4 billion barrels of recoverable oil and gas reserves. It is more evidence the subsalt region offshore southeastern Brazil could...

Offshore royalty agents accused of sexual liaisons, accepting gift.
September 15, 2008... More than a dozen federal workers assigned to collect public royalties from offshore producers received gifts from employees of oil and natural gas companies that they were in communication with, with sexual impropriety in some instances,...

Intrastate weekly spot prices.
September 15, 2008... INTRASTATE WEEKLY SPOT PRICES Flow Dates: 9/9-9/15 Avg. Avg. Sep. Price Daily Daily Bid Point $/MMBtu Chg. High Low...

October contract eying $6 area; NatGas bears take firm control.
September 15, 2008... Nymex October natural gas futures fell lower last week as Hurricane Ike moved into the Gulf of Mexico on a path that kept damage to offshore production platforms to a minimum. Based on the current downward trend throughout the energy complex,...

Prices and differentials for major hubs and selected city gates.
September 15, 2008... SELECTED DAILY DIFFERENTIALS Differential 9/8 9/9 9/10 9/11 9/12 HH-NY +0.56 +0.42 +0.39 +0.49 +0.51 HH-Chicago -0.23 -0.29 -0.42 -0.60 -1.39 AECO-CHIC +1.30 +1.12 +1.10 +1.16 +0.80 AECO-PG&E...

Increasing biofuels long-term bullish factor for natural gas.
September 15, 2008... Biofuels could make up 10% to 15% of the future global fuels energy mix in the next 10 to 20 years, according to a new study released by consulting group Accenture. If the study's findings hold correct, this could be a bullish prospect for...

North American weekly gas storage.
September 15, 2008... NORTH AMERICAN WEEKLY GAS STORAGE (Billion Cubic Feet) Sep. Aug. Yr. 5 29 Weekly Year Ago 5-year 5-year Region Week Week Change Ago Change Average Change US ...

Natural gas futures.
September 15, 2008... NATURAL GAS FUTURES Trading Dates: September 8 - September 12 NEW YORK MERCANTILE EXCHANGE (NYMEX) (HENRY HUB) Monday Tuesday Wednesday Last Volume Last Volume Last...

US, Canadian terminals rushing into LNG storage, re-export play.(LNG Update)
September 15, 2008... Not only has Cheniere joined Freeport LNG in applying for permission to re-export LNG from the US as a means of improving the economics of underutilized North American receiving terminals, but Canadian developers are also hoping to get in on...

Prices for major Atlantic Basin LNG hubs.(LNG Update)
September 15, 2008... [ILLUSTRATION OMITTED] * 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 most current delivery date. New...