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In a major victory for market speculators, a federal court in Washington, DC, Friday tossed out the Commodity Futures Trading Commission's controversial final rule aimed at limiting speculative trading in the swaps market.
With more questions than answers surrounding Greenwich, CT-based Amaranth Advisors LLC's significant losses due to a slumping natural gas market, Connecticut Attorney General Richard Blumenthal reiterated Tuesday his long-standing call for more oversight of hedge funds in general.
Two Asia-focused investors -- Temasek and RRJ Capital -- have agreed to put $468 million into Cheniere Energy Inc., the liquefied natural gas (LNG) developer said Monday, adding that it would use the proceeds to support development of liquefaction and export capability at the Sabine Pass LNG facility in Louisiana (see Daily GPI, April 18).
Allegheny Energy Inc. electric delivery subsidiary Allegheny Power requested permission last week from the Virginia State Corporation Commission (SCC) to recover the increased cost of purchasing power beginning July 1, 2007. With Dominion Virginia Power's similar filing earlier in the week, Allegheny's action marks the second such request last week by a Virginia utility due to the rising costs of power generation fuels.
Based on the proposed storage and pipeline infrastructure projects pending at FERC, the natural gas storage business is alive and well and is likely to grow in the short and long term, according to a federal energy official speaking as part of a panel discussion last Tuesday at GasMart 2010 in Chicago. Storage was called the perfect partner for new supply projects.