NiSource Hires Former Vastar CEO to Grow TPC
NiSource has named former Vastar CEO William A. (Andy) Lang as
the new president and COO of TPC Corp., which it purchased from
PacifiCorp for $150 million in April. Lang and several other new
officials have been hired to rebuild TPC's energy marketing
operations and grow its exiting portfolio management business.
NiSource Senior Vice President James K. Abcouwer said the
company expects to add about 20 employees to bring the total to
about 65 before the end of the year in an effort to re-enter energy
marketing and build on the supply and transportation management
that has been TPC's core business. NiSource has folded its existing
Midwest marketing operation, NEM, into TPC, as well as subsidiary
Bay State Gas's Energy Express marketing arm. It also hopes to add
Columbia Energy Group's marketing division if the proposed
acquisition of Columbia goes through.
"TPC is a key component of NiSources's strategy to create a
highly competitive energy company with assets located along a
corridor stretching from Texas to Maine," said Abcouwer. TPC holds
a 66% ownership in Market Hub Partners, which operates the Moss
Bluff and Egan salt cavern storage facilities and is in the process
of building the NE Hub storage plant in western Pennsylvania. "We
are committed to growing TPC's market presence and investment in
natural gas wholesale services. As part of that commitment, we are
quickly building the TPC team with experienced talent."
NiSource has hired Peter I Tumminello as vice president,
structured transactions, and Tom Pisula as vice president of
trading. Tumminello previously was vice president of wholesale
marketing at TXU Energy Trading. Prior to that he managed the
eastern U.S. wholesale business for TPC. Pisula was previously was
vice president of eastern trading at TXU Energy Trading.
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