KeySpan Energy Delivery, which includes Brooklyn Union Gas and anumber of other company affiliates, has reached a proposedagreement with New York officials aimed at restructuring the ratesand services for its natural gas customers in the state.
Tag / Affiliates
SubscribeAffiliates
Articles from Affiliates
Bay Gas to Quadruple Gas Storage for Southern Affiliates
EnergySouth’s Bay Gas Storage Co. Ltd. inked a 15-year naturalgas storage contract with Southern Company Services Inc. last week,quadrupling the amount of natural gas storage it already providesits parent Southern Co., and giving Southern’s six utilitiessalt-dome storage capacity of up to 3.2 million MMbtu of naturalgas.
Rift Opens Between Mobil, Maritimes
A dispute has erupted in the Canadian courts between affiliatesMobil Oil and the Maritimes & Northeast Pipeline. Maritimes hasfiled a lawsuit with the Nova Scotia Supreme Court against Mobil,seeking C$3.29 million, plus C$100,000 in general damages,interest, legal costs and all out-of-pocket expenses.
Rift Opens Between Mobil, Maritimes
A dispute has erupted in the Canadian courts between affiliatesMobil Oil and the Maritimes & Northeast Pipeline. Maritimes hasfiled a lawsuit with the Nova Scotia Supreme Court against Mobil,seeking C$3.29 million, plus C$100,000 in general damages,interest, legal costs and all out-of-pocket expenses.
Industry Briefs
Coho Energy is exiting bankruptcy protection with new seniormanagement and a new bank facility. Coho and five of its affiliatesfiled for Chapter 11 Aug. 23. At the time, Coho listed totalliabilities of $425 million. Under the reorganization plan, Coho’sthree largest institutional bondholders converted their debt into90% of the equity of the reorganized company. These bondholdersalso provided the majority of the $72 million of subordinatednotes, as provided under the reorganization plan. The bondholdersare Appaloosa Management, Oaktree Capital Management and PPMAmerica.
Orion Power Buys Generation Assets
Orion Power Holdings Inc., jointly owned by affiliates ofGoldman, Sachs & Co. and Constellation Energy, bought theAstoria Generating Station, Gowanus Gas Turbine and Narrows GasTurbine facilities from Consolidated Edison Co. of New York forabout $550 million.
Orion Power Buys Generation Assets
Orion Power Holdings Inc., jointly owned by affiliates ofGoldman, Sachs & Co. and Constellation Energy, bought theAstoria Generating Station, Gowanus Gas Turbine and Narrows GasTurbine facilities from Consolidated Edison Co. of New York forabout $550 million.
Industry Briefs
Coral Energy affiliates have signed a deal to supply gas to andpurchase the power from the proposed 830 MW Tenaska GatewayGenerating Station in Rusk County, TX. Construction of the plant isscheduled to begin this summer and be completed in spring 2001. Aspart of the deal, Coral also has gained an equity position inTenaska Gateway Partners, which will build, own and operate thefacility. It is Omaha-based Tenasaka’s second power project in thelast two years. “Joining with Tenaska in the Gateway GeneratingStation supports Coral’s strategy to build a power generationplatform that complements our marketing and trading activities,”said Coral CEO Charlie Crisp. Terms of the deal were not disclosed.
Union Pacific, Koch Swapping Assets
Union Pacific Fuels and three Wichita, KS-based affiliates ofKoch Industries exchanged certain gas and gas liquids assets inEast Texas and Southern Louisiana. The Koch companies will receivea portion of Union Pacific’s interest in the Panola Pipeline, whichruns from Carthage, TX, to Mont Belvieu, TX. In addition, the Kochcompanies will receive Union Pacific’s interest in the Mont BelvieuI fractionator as well as the Patterson and Calumet gas plants inSouthern Louisiana.
Producers, Industrials: Columbia Proposal ‘Premature’
Natural gas producers and industrial customers insist theyaren’t the least bit interested in the Columbia pipelineaffiliates’ proposals to negotiate terms and conditions of service,saying pipelines have the potential now to offer them and othercustomers innovative services on a tariffed basis. Utilities, onthe other hand, were mixed in their reaction.