Many of the “incendiary” allegations arising from Natural GasClearinghouse’s (NGC) acquisition of 1.3 Bcf/d of firmtransportation capacity from El Paso Natural Gas – that thecontracted amount far exceeded NGC’s market needs, that NGC hasacquired monopoly control over pipeline capacity into California,that California border prices have shot up as a result, and thatthe contracts contain a “covenant” whereby NGC and El Paso haveagreed not to compete – have generated a lot of smoke, but no realfire, the Houston-based gas marketer says.
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