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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.
In light of the decline in publicly traded companies with substantial pipeline assets and the rise in master limited partnerships (MLP) in the pipe sector, FERC Thursday issued a draft policy statement that would allow the use of MLPs in proxy groups to determine oil and natural gas pipelines' returns on equity (ROE) for ratemaking purposes.
Phase I of Iroquois Gas Transmission System LP's 08/09 Expansion -- a 1.6-mile pipeline loop in Newtown, CT -- began flowing gas on Nov. 14. The three-phase 08/09 Expansion will allow Iroquois to receive an additional 200 MMcf/d at its interconnect with Algonquin Pipeline in Brookfield, CT, and deliver the volumes to National Grid's KeySpan system at South Commack in Long Island. Iroquois will act as a middleman between Algonquin and KeySpan. Algonquin has entered into a precedent agreement with KeySpan for 175,000 Dth/d of firm service effective Nov. 1 and an additional 25,000 Dth/d...