Acting

Louisiana Gov. Kathleen Babineaux Blanco, who has been a strong proponent of liquefied natural gas (LNG) import terminal construction in her state, has sent a letter to Acting Maritime Administrator John Jamian warning that she will oppose construction of LNG terminals off the Louisiana coast that use the “open rack” vaporization (ORV) process.

Underscoring FERC’s successful track record in quickly acting on merger proposals, FERC Commissioner Joseph Kelliher last Thursday said that he doesn’t think it makes sense for the federal agency to alter its existing approach to merger applications.

President Bush announced the nomination Friday of a new top administrator of the Environmental Protection Agency (EPA), Stephen Johnson, a 24-year EPA veteran who has served as acting administrator since January. The move was a departure from the recent practice of naming a more visible political figure to the top job and did not sit well with some environmentalists.

Acting on remand, FERC last Wednesday reinstated a policy of permitting interstate pipelines to limit selective shipper discounts to the primary receipt and delivery points specified in a shipper’s contract (RP00-463-006). At the same time, the natural gas industry signaled that, for the most part, it was satisfied with the agency’s selective discounting policy as is.

Acting on remand, FERC on Wednesday reinstated a policy of permitting interstate pipelines to limit selective shipper discounts to the primary receipt and delivery points specified in a shipper’s contract (RP00-463-006).

Petro-Canada, acting on a request by the Canadian government, Thursday filed a preliminary prospectus with securities regulators in connection with the sale of the government’s remaining 19% stake in the company, amounting to 49,390,104 common shares, through a public offering. Plans for the sale, which would bring the government over $2 billion, were revealed in the federal budget last March (see Daily GPI, March 24).

Acting as contrarians to many energy prognosticators, Southwest Securities consultants said Tuesday that recent natural gas storage injections against the backdrop of significantly hotter weather than a year ago, and consequently, stronger power generation gas demand, imply “considerable” year-over-year weakness in industrial gas demand, and therefore, lower prices.

Acting as contrarians to many energy prognosticators, Southwest Securities consultants said Tuesday that recent natural gas storage injections against the backdrop of significantly hotter weather than a year ago, and consequently, stronger power generation gas demand, imply “considerable” year-over-year weakness in industrial gas demand, and therefore, lower prices.

Hearings on Enron Corp.’s reorganization plan began last week in a New York City courtroom, and barring any legal glitches, acting CEO Stephen Cooper said he expects the final plan to be approved. Although it still faces hundreds of lawsuits, Enron could emerge from bankruptcy by the end of the year.