Business

Reiterating that it does not own or want to own an energy trading business, Kinder Morgan Inc. (KMI)and Kinder Morgan Energy Partners LP (KMP) reaffirmed their comfort with consensus earnings estimates for both the second quarter and the year.

With all of its business segments contributing, Kinder Morgan Inc. (KMI) Wednesday reported a 51% increase in first quarter earnings, with net income up 56%. The returns were fueled by a 39% earnings increase of KMI’s general partner Kinder Morgan Energy Partners LP (KMP), which is expected to lead the Houston-based midstream company on a path toward double-digit earnings growth this year.

Although no one can tell what sort of business it will be, Enron Corp. traders are expected to begin work soon under their UBS Warburg Energy banner “NetCo” once the Swiss-based investment banker officially takes over. The deal is scheduled to close as early as this week, but it still may be several weeks before actual trading can begin.

Dynegy Inc. said Wednesday that it has appointed Matt K. Schatzman, previously president of Energy Trading, to the positions of president and CEO of the company’s energy convergence business. In his new roles, Schatzman will add energy marketing and origination, commercial asset management, operations and development of Dynegy’s U.S. generation facilities, and Dynegy Canada to his current responsibilities, which include all energy transportation, logistics and risk management activities. He will continue to report to Steve Bergstrom, Dynegy Inc. president and COO. Schatzman joined Dynegy in 1990 as director of transportation after spending three years at Transcontinental Gas Pipe Line Corp. Cliff Hare, formerly senior vice president of marketing and origination for the Southeast, will replace Schatzman as president of Energy Trading. After spending 10 years with Southern Natural Gas Co., Hare joined Natural Gas Clearinghouse, Dynegy’s predecessor company, in 1987 and has served in various departments within the company, including transportation, gas trading, power fuel and gas and power marketing. He will relocate to Dynegy’s Houston headquarters and will report to Schatzman.

Williams said last Wednesday that it has completed the first phase of the Transco pipeline system’s MarketLink expansion project, which will provide much needed incremental natural gas transportation capacity into the northeastern United States. The company added that this project represents the first interstate pipeline expansion completed to serve the New York metropolitan area since 1992.

Williams said Wednesday that it has completed the first phase of the Transco pipeline system’s MarketLink expansion project, which will provide much needed incremental natural gas transportation capacity into the northeastern United States. The company added that this project represents the first interstate pipeline expansion completed to serve the New York metropolitan area since 1992.

Atmos Energy Corp.’s nonutility holding Co. Atmos Energy Holdings Inc., has bought some Kentucky-based market area storage facilities and associated pipeline assets for $13 million in cash. The assets will be utilized by subsidiary Woodward Marketing LLC, which also recently expanded its operations though the $3 million purchase of Innovative Gas Services Inc. (IGS) and the common stock of Southern Resources Inc.

Atmos announced plans to acquire the East Diamond Storage Field and pipeline facility assets in July. The storage field contains 1.8 Bcf of working gas capacity and has deliverability of about 20 MMcf/d.

Caminus Corp. expanded its customer base to approximately 300 energy trading and marketing companies with the completion of its acquisition of the software operations of Altra Energy Technologies, Inc., announced Tuesday.