NGC Reorganizes Trading, Marketing Operations
NGC Corp. announced it is reorganizing its marketing and trading
operations to reflect continued convergence of the gas and power
industries and to "meet growing and different customer demands for
a single source supplier." In particular, the company announced
plans to combine the trading functions of Natural Gas Clearinghouse
and Electric Clearinghouse, its gas and power marketing operations,
and to make its gas liquids business a separate enterprise.
"By combining the electric and gas trading operations, NGC will
be better able to achieve efficiencies and synergies that will
result in enhanced service for customers," said Stephen W.
Bergstrom, senior vice president of NGC Corp. and president of both
subsidiaries. "Additionally, through the establishment of a unit to
manage the downstream liquids business, we believe we can improve
the value of this business."
Joel M. Staib has been appointed president of the energy trading
division. Matthew K. Schatzman has been named president of energy
marketing and origination, and Mark J. Stubbe has been named
president of a new liquids marketing division. Rocco Canonica
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