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NiSource Hires Former Vastar CEO to Grow TPC

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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