Affiliates

FERC Friday gave a favorable initial environmental nod to El Paso Corp. affiliates Southern LNG Inc., Elba Express Co. and Southern Natural Gas pipeline to double the storage and sendout capacity of Southern LNG’s liquefied natural gas (LNG) import terminal in Georgia and build a new 190-mile, 1.2 Bcf/d gas pipeline to move revaporized LNG to growing Southeast markets.

El Paso Corp. affiliates Southern LNG Inc., Elba Express Co. and Southern Natural Gas pipeline have filed applications at FERC seeking to double the storage and sendout capacity of Southern LNG’s liquefied natural gas (LNG) import terminal in Georgia and to build a new 190-mile, 1.2 Bcf/d gas pipeline to move revaporized LNG to the growing Southeast markets.

El Paso Corp. affiliates Southern LNG Inc., Elba Express Co. and Southern Natural Gas pipeline have filed applications at FERC seeking to double the storage and sendout capacity of Southern LNG’s liquefied natural gas (LNG) import terminal in Georgia and to build a new 190-mile, 1.2 Bcf/d gas pipeline to move revaporized LNG to downstream gas markets.

The former chief of the American Electric Power’s (AEP) Gulf trading desk agreed to pay a $350,000 fine to the Commodity Futures Trading Commission (CFTC) to settle charges that he directed AEP natural gas traders to submit misleading or knowingly inaccurate information to two Platts’ publications, Gas Daily and Inside FERC’s Gas Market Report for almost two years (see Daily GPI, Sept. 21, 2005).

A subsidiary of Dallas-based independent EXCO Resources Inc., which went public in February, signed a deal to buy Winchester Energy Co. and affiliates from Progress Energy Inc. for $1.2 billion in cash last Monday. In conjunction with the purchase, the company announced plans for an initial public offering of units in a new master limited partnership that will hold the Progress Energy assets as well as some of EXCO’s existing assets.

A subsidiary of Dallas-based independent EXCO Resources Inc., which went public in February, signed a deal to buy Winchester Energy Co. and affiliates from Progress Energy Inc. for $1.2 billion in cash on Monday. In conjunction with the purchase, the company announced plans for an initial public offering of units in a new master limited partnership that will hold the Progress Energy assets as well as some of EXCO’s existing assets.

A settlement agreement filed with Indiana regulators preserves ProLiance’s gas supply relationship with its utility affiliates, Vectren Energy Delivery and Citizens Gas & Coke Utility, through March 2011. The settlement, which was reached with the utilities, ProLiance and three consumer representatives, is subject to approval by the Indiana Utility Regulatory Commission (IURC).

EnCana Corp. and some of its affiliates agreed to sell virtually all of their gas storage interests to private equity fund Carlyle/Riverstone Global Energy and Power Fund for about $1.5 billion after adjustments.

In a week filled with earnings news and the announced departure of its CEO (see Daily GPI, Oct. 27), EnCana Corp. on Thursday said it has reached an agreement with some of its affiliates to sell substantially all of its natural gas liquids (NGL) business to Provident Energy Trust for $586 million (C$697 million). The sale is expected to close by the end of the year.