Bankrupt Mirant Corp. said Monday that it is taking bids on its Mirant Canada Energy Marketing operations, which include all of its remaining Canadian natural gas marketing and transportation contracts and related assets. The sale of these assets would mean the company’s exit from the Canadian energy business.
The sale would include about 43 MMcf/d in long-term gas transportation agreements, IT system equipment, office space in Calgary and the transfer of the company’s remaining employees. Bids will be due Dec. 18 and any sale would be subject to a ruling by Court of Queen’s Bench.
In May, Mirant sold the majority of its Canadian gas marketing, trading and aggregation operations to Iowa agricultural conglomerate Cargill. The deal transferred gas aggregation contracts for supply from more than 500 Canadian natural gas producers, covering about 3.5 Bcf/d. It also included 380 MMcf/d of gas transportation contracts and 1.3 Bcf of natural gas storage contracts.
Additional information on Mirant Canada Energy Marketing is available at www.mirant.com.
The Atlanta-based merchant energy company filed for Chapter 11 protection in July. The filing, which came as Mirant was due to pay back a $1.13 billion bank loan and conclude a major bond exchange offer, included Mirant Corp., Mirant Americas Generation LLC and substantially all of the companies’ wholly-owned subsidiaries in the United States. Mirant’s operations in the Philippines and the Caribbean were not included. Mirant still owns or controls more than 21,000 MW of power generation and continues to market and trade gas and power.
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