Page 9 - Intelligence Press News Today

A bipartisan group of senators last week called on the Bush administration to release the final $100 million in emergency funding for Low-Income Home Energy Assistance Program (LIHEAP) that helps needy families pay their utility bills. They also recommended that the annual LIHEAP budget be expanded.

With Hurricane Emily's path looking less threatening to a majority of Gulf of Mexico production, August natural gas futures on Monday probed the downside, trading as low as $7.560 before settling at $7.652, down 19.7 cents from Friday.

A major interstate natural gas pipeline group and gas utility association have called on FERC to conduct regional technical conferences to address coordination issues between the gas and electricity markets, while a group of New York Transmission Owners (NYTO) recommended that independent system operators/regional transmission organization (ISOs/RTOs) be required to submit compliance filings identifying how they plan to respond to coordination problems.

With natural gas prices as low as they are, one would think there is no good reason to drill for the stuff. Actually, there are several reasons to pursue gas; but they're pretty much going away, according an analysis by Standard & Poor's (S&P).

The U.S. Department of Energy (DOE) last week granted three separate authorizations for the export of domestic liquefied natural gas (LNG) to SB Power Solutions Inc. (SPS), Gulf LNG Liquefaction Co. LLC and Southern LNG Co. LLC. Exports are to be allowed to countries with which the United States has a free trade agreement (FTA).

FERC Monday approved a record $30 million agreement resolving claims that Energy Transfer Partners LP (ETP) and three affiliates manipulated physical natural gas prices at key Texas trading points from late 2003 through 2005.

FERC has issued an amended certificate giving Trunkline Gas Co. LLC the go-ahead to increase the size of an agency-approved looping project that would serve affiliate Trunkline LNG's expansion of its liquefied natural gas (LNG) terminal in Lake Charles, LA.

Chesapeake Midstream Partners LP has agreed to acquire the Spring Ridge gas gathering system and related facilities in the Haynesville Shale from Chesapeake Midstream Development LP, a subsidiary of Chesapeake Energy Corp. (Chesapeake), for $500 million cash.

Lee R. Raymond, who served as a lightning rod for environmental critics while steadily guiding ExxonMobil Corp. to become the world's richest public company, on Thursday said he will retire at the end of this year.

The U.S. Court of Appeals for the District of Columbia Circuit will review former Amaranth natural gas trader Brian Hunter's appeal of FERC's order denying rehearing of claims that he manipulated the natural gas market.