The master limited partnership of Williams Energy Partners LP (WEG), has signed an agreement to acquire a refined petroleum products pipeline system from Tesoro Petroleum Corp. for $110 million. The acquisition is expected to close during mid-October, pending approval from appropriate regulatory agencies.
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TransCanada Buys Williams’ Interest in Northern Border Partners
TransCanada Pipelines Ltd. announced late Friday it completed a deal to buy Williams Cos. Inc’s interest. in Northern Border Partners LP for $12 million (US). The transaction provides TransCanada with a general partnership stake in Northern Border Partners, which owns 70% of the Canada-to-Midwest Northern Border Pipeline, and increases TransCanada’s indirect ownership interest in the pipeline.
Southern Buys Georgia Assets, Customers of NewPower
Atlanta-based Southern Co. said Friday it closed on a deal to buy the Georgia customers, operations and gas inventory of Enron-affiliated NewPower Holdings Inc. for an estimated $60 million (see Daily GPI, June 13).
Southern Buys Georgia Assets, Customers of NewPower
Atlanta-based Southern Co. said Friday it closed on a deal to buy the Georgia customers, operations and gas inventory of Enron-affiliated NewPower Holdings Inc. for an estimated $60 million (see Daily GPI, June 13).
WPS Buys De Pere Power Unit from Calpine, Inks Deal for Sherry Plant Capacity
Wisconsin Public Service Corp. (WPS) signed agreements to purchase the 180 MW De Pere Energy Center from Calpine for $120 million and to enter into a $250 million power purchase agreement for up to 235 MW of capacity and energy for 10 years from Calpine’s proposed Sherry Energy Center to be located near Marshfield, MI.
Exelon Buys Remaining Interest in Sithe’s 4,400 MW of NE Generation
Exelon Generation Co. LLC is buying the other half of Sithe New England Holdings LLC from Sithe Energies, Inc. for a $543 million note, plus the assumption of $1.15 billion of project debt. Exelon currently owns 49.9% of the company, which operates 4,400 MW of generation produced by seven gas or gas and oil fired power plants in New England.
El Paso Buys Plains Line; Plans Gas Conversion
If El Paso continues on its current path, there will be nopipelines left to buy. The Houston-based energy giant stretched itsstreak of purchases yesterday by announcing an agreement betweenits subsidiary, El Paso Natural Gas Co., and Plains All AmericanPipeline L.P. to buy a portion of the All American Pipeline for$129 million. El Paso said it plans to invest $75 million toconvert a segment of the pipeline from an oil pipeline to a naturalgas pipeline upon FERC approval.
El Paso Buys Plains Line; Plans Gas Conversion
If El Paso continues on its current path, there will be nopipelines left to buy. The Houston-based energy giant stretched itsstreak of purchases yesterday by announcing an agreement betweenits subsidiary, El Paso Natural Gas Co., and Plains All AmericanPipeline L.P. to buy a portion of the All American Pipeline for$129 million. El Paso said it plans to invest $75 million toconvert a segment of the pipeline from an oil pipeline to a naturalgas pipeline upon FERC approval.
EnCana Buys 500 Bcf of Rockies Reserves from El Paso for $292M
Less than two weeks after being formed by a merger of AEC and PanCanadian, EnCana Corp. has embarked on a major expansion of its Rocky Mountain region producing assets by purchasing 500 Bcf of long-life natural gas and associated natural gas liquids reserves and about 338,000 net acres of land in northwestern Colorado from El Paso Corp. (see Daily GPI, April 5)
Sempra Energy Buys More of Enron’s Metals Trading
Making its third purchase of some of Enron Corp.’s European metals trading businesses, Sempra Energy’s Stamford, CT-based trading arm Tuesday shelled out another $24 million in cash to acquire Liverpool (UK)-based Henry Bath Ltd and subsidiaries, a provider of warehousing services for non-ferrous metals in Europe and Asia.