The Kansas City Board of Trade’s board of directors have submitted new rules encouraging natural gas “strip” trading in its Western Natural Gas Options contracts to the Commodity Futures Trading Commission (CFTC) for approval. The exchange already has rules governing strip trading in gas futures. The new rules allow strips to be quoted and traded as a single price. Absent CFTC rejection, the new rules will go into effect Feb. 9.

The U.S. Department of Energy (DOE) and a consortium of gas utilities are collaborating on efforts to develop and manufacture competitively priced, high-efficiency gas-fired heating and cooling units with lower installation and operating costs. The consortium includes Southern California Gas, Mississippi Valley Gas, Southwest Gas, and Williams Gas Pipelines/Texas Gas, who make up a limited liability company called Unitary Gas Heating and Cooling Products. The company initially will focus on commercialization of a new technology called GAX, or generator-absorber heat exchange. GAX uses an aqua ammonia absorption (chemical) cycle fueled by gas to produce heating and cooling.

Williams and Mapco last week mailed joint proxy statements seeking shareholder approval for Williams to acquire Mapco in a non-taxable, stock-for-stock deal. Special shareholder meetings are scheduled for 10 a.m. central time Feb. 26, not Feb. 25 as previously announced. Both meetings are in Tulsa. The new date reflects a 30-day period from mailing of the proxy. Proxies are going to shareholders of record at the close of business Jan. 26.

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