Mirant said it has completed the sale of its 44.8% ownership stake in Bewag, a Berlin-based utility to the Vattenfall group for $1.63 billion. Mirant received more than $1 billion in net proceeds after repayment of $600 million in debt associated with its Bewag investment. “Consistent with our announced business plan, this sale is yet another step in strengthening Mirant’s balance sheet and improving its liquidity,” said CEO Marce Fuller. “Other asset sales continue to be pursued by Mirant.”

SolArc Inc., a provider of enterprise trade management solutions for global commodity businesses, announced that Englewood, CO-based MarkWest Hydrocarbon Inc. has selected SolArc RightAngle to manage its energy commodity trading operations. Under the agreement, MarkWest’s gathering, processing and marketing (GPM) business unit will use SolArc RightAngle in their Colorado, Ohio and Pennsylvania offices for natural gas liquid (NGL) and natural gas marketing activities. The company expects their Appalachian NGL production to increase to 450,000 gallons per day. “SolArc RightAngle gives MarkWest a scalable solution that will enable them to grow their trading business without the burden of increasing incremental trading costs,” said Brad Anderson, CEO of Tulsa, OK-based SolArc. “With SolArc RightAngle Portfolio Analysis Tool, MarkWest will be able to view their market position accurately, with timely profit and loss reporting and inventory data down to the barrel — giving them the edge they need to manage complex trading activities.” SolArc said the software integrates the entire transaction process, including every form of trade capture (physical and financial deals), storage and inventory management, pooled scheduling, logistics and transportation management, trade accounting, position management and real time and forward-looking profit and loss reporting capabilities in one complete end-to-end solution.

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