CMS Marketing, Services and Trading (CMS-MST) continued itsliquefied natural gas (LNG) buying binge last week, announcing 10more deliveries from Qatar to the CMS Trunkline LNG facility inLake Charles, LA. The deals bring the number of announced LNGcargoes headed to the Trunkline facility over the next two years to26.
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CMS Keeps the LNG Ships Cruising
CMS Marketing, Services and Trading (CMS-MST) continued itsliquefied natural gas (LNG) buying binge yesterday by announcing 10more deliveries from Qatar to the CMS Trunkline LNG facility inLake Charles, LA. The deals bring the number of announced LNGcargoes headed to the Trunkline facility over the next two years to26.
FPL Buys Plethora of Power Plants
FPL Group, parent of Florida Power and Light, is buying 66gas-fired turbines (model 7FA) and a generation services agreementfrom General Electric for $3.7 billion. The turbines will supportthe expansion underway at Florida Power as well as the continuedrapid growth of the corporation’s independent power productionsubsidiary, FPL Energy LLC. Under the agreement, GE will deliverthe turbines starting this year through 2004 and will providesupport services through 2011.
Tested Again, Resistance Turns Back Bulls
Led by local buying, the natural gas futures market made twodistinctive thrusts higher Friday, as traders set their sights onresistance at $2.90. However it was not to be and after the secondsurge was thwarted shortly after noon (CST), the market tumbledlower amid light profit taking and position squaring. Oddly, theprompt month April suffered the smallest declines of any contract,slipping 1.1 cents to finish the week at $2.836. By comparison, theMay contract slipped 1.4 cents lower and the 12-month strip gaveback 1.5 cents. Estimated volume was moderate, with 69,063contracts changing hands.
Williams Takes Stake in Houston Street Exchange
Williams Energy Marketing & Trading is buying an undisclosedminority stake in Houston Street Exchange, a Web-based powertrading exchange that Williams believes will be actively taken upby the energy trading community.
Williams Takes Stake in Houston Street Exchange
Williams Energy Marketing & Trading is buying an undisclosedminority stake in Houston Street Exchange, a Web-based powertrading exchange that Williams believes will be actively taken upby the energy trading community.
BP Amoco Buying Another Third of Destin
BP Amoco grew its share of the Destin Pipeline from one-third totwo-thirds by acquiring the one-third share of Southern Natural GasCo. Tejas Destin LLC holds the remainder.
El Paso Buying Oneok Processing Plant
El Paso Field Services continued its strategy of growingshort-term earnings in its midstream business while working tosecure long-term strategic gas supply for its affiliated pipeline,El Paso Natural Gas.
El Paso Buying Oneok Processing Plant
Oneok Inc. of Tulsa, OK, agreed to sell its 42.3% interest inthe Indian Basin Gas Processing Plant and gathering system for $55million to El Paso Field Services Co. The transaction is expectedto close by the end of March.
BP Amoco Buying Another Third of Destin
BP Amoco exercised its right of first refusal to buy SouthernNatural Gas Co.’s one-third interest in the Destin Pipeline,growing its share to two-thirds. Tejas Destin LLC holds theremainder.