Shell Energy North America (Canada) Inc., a subsidiary of Shell Energy North America (US) LP, has closed on its acquisition of the Canadian natural gas and power customer contract portfolio of Integrys Energy Services of Canada Corp., a subsidiary of Integrys Energy Services Inc. The deal was announced in July (see Daily GPI, July 20). Effective Oct. 1 the customer contracts will be integrated into Shell Energy’s existing gas and power portfolio. Shell is one of the top North American gas marketers, according to NGI‘s Top North American Gas Marketers ranking. In a separate transaction, Integrys Energy Services completed the sale of its 2 Bcf gas storage contract to TransCanada Gas Storage Partnership, a subsidiary of TransCanada Corp., one of the largest natural gas storage providers in North America with approximately 370 Bcf of capacity. With these transactions Integrys Energy Services has exited power and gas marketing in all provinces in Canada, leaving it only New Brunswick-based power generation and associated electricity production. As a result, Integrys Energy Group’s collateral support requirements, which include corporate guarantees, letters of credit and cash, are expected to be reduced by approximately $300 million by year-end 2009.

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