The American Gas Association (AGA) says it is “highly disturbed”by ANR Pipeline’s request that FERC “reinterpret” the scope of theHinshaw Amendment as part of its deliberations into whether tocertificate the proposed Guardian Pipeline.
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Independents Driving U.S. Y2K Gas Spending
North American exploration and production in 2000 will be nearlyall about gas and all about independents, with spending plans ofthe majors largely forsaking this country for opportunitiesoverseas. That’s one finding of Lehman Brothers, which from Nov. 6to Dec. 10 surveyed 320 companies in what it calls “the mostextensive study of oil company spending plans that has ever beendone.”
Aquila Scores a $264 M Supply Deal
Utilicorp United’s Aquila Energy signed the Nebraska-basedAmerican Public Energy Agency (APEA) to a 12-year, $264 million gassupply contract, the company said last week. The deal isretroactive to Dec. 1. Aquila said it is the single largestlong-term gas contract to be financed through the issuance oflong-term taxable revenue bonds. Under the terms of the contract,the APEA purchased 142 Bcf of supply at a price based on a NorthernNatural-Demarc index.
Aquila Scores a $264 Million Supply Deal
Utilicorp United’s Aquila Energy signed the Nebraska-basedAmerican Public Energy Agency (APEA) to a 12-year, $264 million gassupply contract, the company said yesterday. The deal isretroactive to Dec. 1 and based on a Northern Natural-Demarc index.Aquila said it is the single largest long-term gas contract to befinanced through the issuance of long-term taxable revenue bonds.Under the terms of the contract, the APEA purchased 142 Bcf ofsupply.
Storage and Weather Reports Cause Choppy Trading
Price points throughout the country varied in their responses toweather forecasts, the American Gas Association storage reportexpectations, and a rising futures screen yesterday. Despite thelack of direction, many traders agreed that weather, which wasresponsible for significant increases in the East and Midcontinentearlier in the week, is set to regain its leadership role in themarket, and push prices down heading into the weekend.
FERC Slaps CNG’s Hand, Grants NAEC’s Complaint
FERC gave CNG Transmission a slap on the hand and ordered it tohonor North American Energy Conservation’s (NAEC) right of firstrefusal (ROFR) on 13,350 Dth/d of firm transportation capacity for atleast one year. But the Commission also intends to take a closer lookat CNG’s capacity reservation and posting practices and wants thepipeline to explain why it discriminated against NAEC in awarding thecapacity to another shipper (see Daily GPI, Sept. 8).
CNG Urges FERC to Dismiss ROFR Complaint
North American Energy Conservation Inc.’s (NAEC) complaintaccusing CNG Transmission Corp. of ignoring its claim to right offirst refusal (ROFR) for expiring capacity is a last-ditch effortto win the capacity back, the pipeline said.
CNG Urges FERC to Dismiss ROFR Complaint
North American Energy Conservation Inc.’s (NAEC) complaintaccusing CNG Transmission Corp. of ignoring its claim to right offirst refusal (ROFR) for expiring capacity is a last-ditch effortto win the capacity back, the pipeline said.
ARCO Shareholders OK Merger With BP Amoco
ARCO shareholders approved the company’s proposed $27 billioncombination with BP Amoco. The all-share deal will involve theexchange of 0.82 BP Amoco American Depository Shares (ADS) for eachARCO share. BP Amoco’s shareholder meeting to vote on thecombination is scheduled for Wednesday in London. The combinationremains subject to the approval of regulatory authorities,including the US Federal Trade Commission (FTC) and the EuropeanCommission. The companies currently are working to close thetransaction later in the year.
TransCanada Sees Gas Market at 87 Bcf/d by 2010
A continental supply and demand analysis released by TransCanadaPipelines in its most recent Update projects the North American gasmarket will grow to 87 Bcf/d by 2010 from 68 Bcf/d in 1998, a 28%increase, with gains made in every region of the continent.