-----Original Message-----
From:  webmaster@cera.com@ENRON 
[mailto:IMCEANOTES-webmaster+40cera+2Ecom+40ENRON@ENRON.com] 
Sent: Friday, February 16, 2001 9:08 PM
To: insights@cera.com
Subject: Monthly Gas Briefing: A Shift in the Wind - CERA Monthly Briefing


Title: Monthly Gas Briefing: A Shift in the Wind
URL: http://www20.cera.com/eprofile?u=35&m=2271


WEATHER CALMS THE MARKET, BUT TROUBLESOME SUPPLY MEANS PRICES STILL MUST
DISCOURAGE DEMAND
The focus in the gas market has shifted markedly from the crisis this winter,
and how high prices might rise, to the spring shoulder months and how low
prices might fall. Wellhead supply remains troublesome, however, and prices
must remain above those of alternative fuels, keeping most flexible end users
out of the gas market.

* For the remainder of February and March the gas market is not yet out of the
woods; prices could still rebound quickly with cold weather.

* Storage inventories, though still well into record low territory, are higher
than was expected and feared earlier this winter, and the prospect of 
inventory
levels that would test overall system reliability and cause widespread
curtailments of firm services appears less and less likely.

* For March, occasional weather-driven price spikes may still occur, but in 
the
context of prices settling toward a level just adequate to keep a necessary
amount of demand out of the gas market. This pattern should result in an
average price of $6.50 per MMBtu at the Henry Hub.


**end**

Follow above URL for full report.


E-mail Category: Monthly Briefing
CERA Knowledge Area(s): North American Gas,

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