Associated

As another indication that it is still not “politically correct” to be associated with an out-of-state energy giant in California, one of the state’s three Republican candidates for governor, William Simon, Jr., drew political news media coverage last week for his disclosure that he and his family own about $16,750 of stock in El Paso Natural Gas Co.

As another indication that it is still not ‘politically correct’ to be associated with an out-of-state energy giant in California, one of the state’s three Republican candidates for governor, William Simon Jr., drew political news coverage this week for his disclosure that he and his family own about $16,750 of stock in El Paso Natural Gas Co.

Reliant Energy Wholesale Group unveiled a new natural gas index and associated financial risk management instrument, designed to enable natural gas traders to better hedge risk for their companies and portfolio clients during the heating season. The Weather-Sensitive Gas Load Index (WGLI) measures current and forecasted residential and commercial natural gas consumption. To work with the index, Reliant has developed a financial instrument tailored for gas traders, called the WGLI Swap.

Atmos Energy Corp. announced Tuesday it has reached a definitive agreement to acquire market area storage and associated pipeline facilities assets located in Kentucky from Kentucky Pipeline and Storage Company, Inc., an affiliate of WBI Holdings, Inc. Under the terms of the agreement, Atmos will purchase the assets for $13 million in cash. The transaction is subject to regulatory approval by the Kentucky Public Service Commission.

Calgary-based AltaGas is acquiring a 90% working interest in the 30 MMcf/d Cygnet-Prevo natural gas plant and associated 100-kilometer gathering system located near Red Deer, AB. Current throughput at the plant is 18 MMcf/d, and the facilities will be operated as part of AltaGas’ existing Bonnie Glen complex. With the acquisition and current activities, the midstream independent’s total gross processing capability in the Bonnie Glen area will be 80 MMcf/d. Closing is expected before July 31. According to the company, the Cygnet-Prevo system lies in a successful multi-zone producing region of the Western Canadian Sedimentary Basin. The gathering system encompasses about nine townships (83,915 square hectares), making it “well positioned to capture additional development in this area.”

A proposal by El Paso Natural Gas to build a new delivery point and associated lateral facilities to provide “full requirements” service of 410 MMcf/d to a new generation plant destined for the Arizona market has been met by a barrage of criticism from existing producer- and utility-shippers on the pipeline.

A proposal by El Paso Natural Gas to build a new delivery point and associated lateral facilities to provide “full requirements” service of 410 MMcf/d to a new generation plant under construction in Arizona has come under fire by producer and utility shippers on the pipeline.

The market went into the long Good Friday/Easter weekend Thursday with the anticipated softness associated with generally mild weather and the typical demand slump of a holiday period. Activity and volatility were noticeably quieter than usual, several traders said.

Williams’ proposal to reactivate the mothballed Cove Pointliquefied natural gas (LNG) terminal and associated facilities inCalvert County, MD, is coming under fire from all quarters -potential distribution customers and the state.