BC Hydro CEO Bob Elton told the business community in the city of Nanaimo on Vancouver Island last Thursday that the utility company plans to take a C$120 million (US$89 million) charge against earnings this year for the stalled Georgia Strait Crossing (GSX) gas pipeline project and the gas-fired 265 MW Vancouver Island Generation Project (VIGP). The power project was rejected by British Columbia regulators last fall as being too costly (see NGI, Sept. 15, 2003).
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New Gas Midstream Company Purchases El Paso Assets for $120M
Newly formed gas midstream company Regency Gas Services has acquired approximately 2,300 miles of natural gas gathering lines and four processing plants as well as pipeline assets from El Paso Corp. for $120 million.
June 16, 2003
EOTT Picks Up $120M of Enron Energy Assets
In a $120 million deal with Enron Corp., EOTT Energy Partners LP has purchased a Texas-based hydrocarbon processing complex and a natural gas liquids storage facility, as well as a liquids pipeline grid system. EOTT also signed a 10-year tolling agreement for production from the hydrocarbon complex and a 10-year storage and transportation agreement to use the pipeline and storage systems with an Enron affiliate.
July 3, 2001
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