Byron Wright, vice president, Corporate Development, of El Paso Corporation , will present tomorrow, November 13, at the Wachovia Liquefied Natural Gas Conference in Houston, Texas at 8:35 a.m. Central Time. An audio webcast and presentation slides will be available on the Investors page of El Paso's Web site at http://www.elpaso.com. Presentation slides will be available about one hour before the presentation.
El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns North America's largest interstate natural gas pipeline system and one of North America's largest independent natural gas producers. For more information, visit http://www.elpaso.com.
Tuesday, November 13, 2007
Monday, November 12, 2007
Natural Gas Choice of Home Owners
It's a bad time to be a heating oil customer.
Not only are they paying record-high prices to heat their homes, they're also being blamed by some for the region's dependence on foreign oil and for contributing to global warming.
Natural gas delivery companies say they have the answer: Convert to gas. The companies say that the price of natural gas is significantly lower than heating oil right now and that switching to "green natural gas technologies" will help prevent climate change.
Steve Holliday, the chief executive of National Grid PLC, the British company that recently purchased Keyspan Energy Delivery, the state's largest gas utility, says his company's 53 percent market share in the Greater Boston area should be closer to 90 percent.
"Natural gas is way out there as the cleanest fossil fuel there is," Holliday said. "There's a huge opportunity here to clean things up by burning natural gas."
In the struggle for supremacy in New England between heating oil dealers and natural gas utilities, everything right now is going the way of natural gas. Gas is cheaper, more versatile, more secure, and, by some measures, more environmentally friendly.
US Census data indicate nearly half of Massachusetts households already use natural gas, while roughly 35 percent use heating oil. Gas utilities have taken market share away from heating oil dealers over the last decade, but the pace of oil-to-gas conversions has slowed.
National Grid numbers indicate conversions within the Keyspan territory reached a peak of 16,800 in 2003, when the company was giving away standard-size boilers and furnaces to homeowners who switched to gas. After the giveaways were replaced with a program offering new customers discounts on boilers and heating oil tank removals, conversions fell to 10,900 in 2006 and were off 9 percent through the first nine months of this year.
The target market for conversions tends to be homeowners who are facing a significant outlay of money to replace an aging boiler or furnace, but that's not always the case.
Not only are they paying record-high prices to heat their homes, they're also being blamed by some for the region's dependence on foreign oil and for contributing to global warming.
Natural gas delivery companies say they have the answer: Convert to gas. The companies say that the price of natural gas is significantly lower than heating oil right now and that switching to "green natural gas technologies" will help prevent climate change.
Steve Holliday, the chief executive of National Grid PLC, the British company that recently purchased Keyspan Energy Delivery, the state's largest gas utility, says his company's 53 percent market share in the Greater Boston area should be closer to 90 percent.
"Natural gas is way out there as the cleanest fossil fuel there is," Holliday said. "There's a huge opportunity here to clean things up by burning natural gas."
In the struggle for supremacy in New England between heating oil dealers and natural gas utilities, everything right now is going the way of natural gas. Gas is cheaper, more versatile, more secure, and, by some measures, more environmentally friendly.
US Census data indicate nearly half of Massachusetts households already use natural gas, while roughly 35 percent use heating oil. Gas utilities have taken market share away from heating oil dealers over the last decade, but the pace of oil-to-gas conversions has slowed.
National Grid numbers indicate conversions within the Keyspan territory reached a peak of 16,800 in 2003, when the company was giving away standard-size boilers and furnaces to homeowners who switched to gas. After the giveaways were replaced with a program offering new customers discounts on boilers and heating oil tank removals, conversions fell to 10,900 in 2006 and were off 9 percent through the first nine months of this year.
The target market for conversions tends to be homeowners who are facing a significant outlay of money to replace an aging boiler or furnace, but that's not always the case.
Natural Gas Choice of Home Owners
It's a bad time to be a heating oil customer.
Not only are they paying record-high prices to heat their homes, they're also being blamed by some for the region's dependence on foreign oil and for contributing to global warming.
Natural gas delivery companies say they have the answer: Convert to gas. The companies say that the price of natural gas is significantly lower than heating oil right now and that switching to "green natural gas technologies" will help prevent climate change.
Steve Holliday, the chief executive of National Grid PLC, the British company that recently purchased Keyspan Energy Delivery, the state's largest gas utility, says his company's 53 percent market share in the Greater Boston area should be closer to 90 percent.
"Natural gas is way out there as the cleanest fossil fuel there is," Holliday said. "There's a huge opportunity here to clean things up by burning natural gas."
In the struggle for supremacy in New England between heating oil dealers and natural gas utilities, everything right now is going the way of natural gas. Gas is cheaper, more versatile, more secure, and, by some measures, more environmentally friendly.
US Census data indicate nearly half of Massachusetts households already use natural gas, while roughly 35 percent use heating oil. Gas utilities have taken market share away from heating oil dealers over the last decade, but the pace of oil-to-gas conversions has slowed.
National Grid numbers indicate conversions within the Keyspan territory reached a peak of 16,800 in 2003, when the company was giving away standard-size boilers and furnaces to homeowners who switched to gas. After the giveaways were replaced with a program offering new customers discounts on boilers and heating oil tank removals, conversions fell to 10,900 in 2006 and were off 9 percent through the first nine months of this year.
The target market for conversions tends to be homeowners who are facing a significant outlay of money to replace an aging boiler or furnace, but that's not always the case.
Not only are they paying record-high prices to heat their homes, they're also being blamed by some for the region's dependence on foreign oil and for contributing to global warming.
Natural gas delivery companies say they have the answer: Convert to gas. The companies say that the price of natural gas is significantly lower than heating oil right now and that switching to "green natural gas technologies" will help prevent climate change.
Steve Holliday, the chief executive of National Grid PLC, the British company that recently purchased Keyspan Energy Delivery, the state's largest gas utility, says his company's 53 percent market share in the Greater Boston area should be closer to 90 percent.
"Natural gas is way out there as the cleanest fossil fuel there is," Holliday said. "There's a huge opportunity here to clean things up by burning natural gas."
In the struggle for supremacy in New England between heating oil dealers and natural gas utilities, everything right now is going the way of natural gas. Gas is cheaper, more versatile, more secure, and, by some measures, more environmentally friendly.
US Census data indicate nearly half of Massachusetts households already use natural gas, while roughly 35 percent use heating oil. Gas utilities have taken market share away from heating oil dealers over the last decade, but the pace of oil-to-gas conversions has slowed.
National Grid numbers indicate conversions within the Keyspan territory reached a peak of 16,800 in 2003, when the company was giving away standard-size boilers and furnaces to homeowners who switched to gas. After the giveaways were replaced with a program offering new customers discounts on boilers and heating oil tank removals, conversions fell to 10,900 in 2006 and were off 9 percent through the first nine months of this year.
The target market for conversions tends to be homeowners who are facing a significant outlay of money to replace an aging boiler or furnace, but that's not always the case.
Sunday, November 11, 2007
Retail Natural Gas Customers - Prices Neutral
As oil prices surged over the last few months, natural gas prices in the United States did something that could help to cushion the economic shock. They fell.
A result is that those who heat their homes with natural gas — by far the dominant fuel in the United States — will see prices roughly in line with last winter’s. But for those who use heating oil, as many do in the Northeast, prices seem likely to be about 50 percent higher than they were last winter.
Oil and gas prices have never moved in lock step, in part because each has different users. But the bigger reason is that one is part of a global market and the other is not.
A result is that those who heat their homes with natural gas — by far the dominant fuel in the United States — will see prices roughly in line with last winter’s. But for those who use heating oil, as many do in the Northeast, prices seem likely to be about 50 percent higher than they were last winter.
Oil and gas prices have never moved in lock step, in part because each has different users. But the bigger reason is that one is part of a global market and the other is not.
Saturday, November 10, 2007
Florida Natural Gas
A deepwater port project that could supply a quarter of Florida's natural gas received a green light at the completion of the U.S. Coast Guard's draft environmental impact statement.
The Coast Guard determined that Suez Energy North America's proposed Calypso LNG Deepwater Port poses little impact to area marine life, air and water quality, and geological resources. The project is in a 30-day public comment period, at the end of which it will move to the governor's office for approval.
The Coast Guard determined that Suez Energy North America's proposed Calypso LNG Deepwater Port poses little impact to area marine life, air and water quality, and geological resources. The project is in a 30-day public comment period, at the end of which it will move to the governor's office for approval.
Friday, November 9, 2007
Natural Gas in Storage Today - 3.55 Trillion Cubic Feet
It was reported today that the natural gas in storage in the United States grew last week and is approximately 8.9 percent above the five-year average for this time of year, a government report said Thursday.
The Energy Department's Energy Information Administration said in its weekly report that natural gas inventories that are being held in underground storage in the lower 48 United States increased by 36 billion cubic feet to about 3.55 trillion cubic feet for the week ending November 2, 2007.
The natural gas inventory level was well above the five-year average of more than 3.25 trillion cubic feet in underground storage, and ahead of the year-ago level of 3.45 trillion cubic feet as well, according to the government data.
In morning trading, natural gas for December delivery fell more than a penny to about $7.61 per 1,000 cubic feet on the New York Mercantile Exchange.
The Energy Department's Energy Information Administration said in its weekly report that natural gas inventories that are being held in underground storage in the lower 48 United States increased by 36 billion cubic feet to about 3.55 trillion cubic feet for the week ending November 2, 2007.
The natural gas inventory level was well above the five-year average of more than 3.25 trillion cubic feet in underground storage, and ahead of the year-ago level of 3.45 trillion cubic feet as well, according to the government data.
In morning trading, natural gas for December delivery fell more than a penny to about $7.61 per 1,000 cubic feet on the New York Mercantile Exchange.
Thursday, November 8, 2007
Petrobras Maintains Natural Gas Holdings in Bolivia
Bloomberg.com is reporting tonight that Petroleo Brasileiro SA, Brazil's state-controlled oil company, plans to invest in Bolivia to maintain current shipments of natural gas at 30 million cubic meters a day.
Output would fall if Petrobras, as the company is known, doesn't invest to maintain fields and explore for new ones, Petrobras President Jose Sergio Gabrielli said today at a news conference in Brasilia. Petrobras canceled some plans to invest in Bolivia after the country forced it to sell refineries.
Output would fall if Petrobras, as the company is known, doesn't invest to maintain fields and explore for new ones, Petrobras President Jose Sergio Gabrielli said today at a news conference in Brasilia. Petrobras canceled some plans to invest in Bolivia after the country forced it to sell refineries.
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