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Liam Denning

Gas Bulls: Here Comes the Monster

New pipelines are the ripples in the cup. Appalachian gas is the monster.

North America's natural gas market just had a "Jurassic Park" moment. I'm referring to that scene in the old Spielberg movie where two children are puzzled by ripples in a water cup -- which turn out to herald the thunderous approach of a T-Rex.

In the gas market's case, the ripples took the less-poetic form of a couple of pipeline projects getting approved by the Federal Energy Regulatory Commission. Both projects, the Williams Cos. Inc.'s Atlantic Sunrise and Energy Transfer's Rover, will allow natural gas produced in the Appalachian region to be 'exported' to other parts of the U.S. and Canada.