Page 10 - Intelligence Press News Today

With mother nature largely in control of the natural gas market, forecasting prices can be a real headache. Winter Henry Hub prices (November-March), for example, could average anywhere from $4 to $11.50, depending on whether temperatures are 13% warmer than normal or 12% colder than normal this winter, Energy and Environmental Analysis Inc. (EEA) said in its latest Monthly Gas Update. EEA's best guess is an $8.48 winter average at the hub.

U.S. and European exchange officials Monday said they supported Congress issuing a mandate for central clearing to increase transparency and reduce counterparty risk in credit default swaps (CDS), a form of insurance against the default of debt securities, which have contributed to much of the tumult in the credit markets. U.S. exchanges say they are ready or near ready to proceed with clearing of certain CDS transactions now.

Spectra Energy's long-under-attack New Jersey-New York Expansion early last week received unanimous approval from FERC, which means firm natural gas transportation service into Manhattan could be operational sometime during the fourth quarter of 2013.

Carolyn Davis, Author at Natural Gas Intelligence - Page 341 of 543

IntercontinentalExchange (ICE) received a ruling from the U.S. Internal Revenue Service (IRS) designating ICE Futures as a "qualified board or exchange," which provides U.S. participants in ICE Futures markets with "60/40 tax treatment."

Natural gas and electric utilities drove results in the second quarter for Rapid City, SD-based Black Hills Corp. but: Despite flat results in the second quarter when its utilities drove increased profits, CEO Dave Emery last week talked up the company's early stage horizontal drilling in the San Juan and Piceance basins.

NiSource Inc. subsidiary Columbia Gas Transmission Corp. said Thursday it is testing the waters to determine the interest of Appalachian producers in a potential expansion of its existing natural gas pipeline system that would permit delivery of additional supplies to markets in the Upper Southeast, Mid-Atlantic and Northeast regions.

Following the long holiday weekend, traders on Monday wasted virtually no time getting their positions across as the December natural gas futures contract plummeted on its final day. After burrowing below the $11.030 support level (from Nov. 7) to record a trade at $10.880 just before 1:30 p.m. EST, the expiring prompt month rallied to go off the board at $11.180, down 44 cents for the day.

A pair of Alaska lawmakers are asking the state's governor and attorney general to take another look at the natural gas pipeline license issued to TransCanada Alaska Co. LLC under the Alaska Gasline Inducement Act (AGIA) to see if it is still a good deal for the state. Gov. Sarah Palin said the resolution is unnecessary.

FERC Thursday approved a request to begin constructing looping of Columbia Gas Transmission's pipeline system to transport natural gas to and from affiliate Hardy Storage Co.'s underground storage project, which is under construction in West Virginia.