Chicago

Craig Donohue, who has been CME Group’s CEO since 2004, will step down when his contract expires in December, the Chicago-based derivatives marketplace announced. The board has appointed current Executive Chairman Terrence Duffy to the expanded role of executive chairman and president, and current President Phupinder Gill to take over as CEO when Donohue’s contract expires. Additionally, the board extended Duffy’s and Gill’s contract agreements. “Donohue, Duffy and Gill, who have worked together in the office of the CEO for the last eight years, will work together over the next several months to effectuate an orderly leadership transition,” the board said. Duffy will continue to take a hands-on approach in government relations, corporate marketing and communications. Gill, who will report to Duffy, will be responsible for all other aspects of running the company. The current management team will remain in place, the board said.

Craig Donohue, who has been CME Group’s CEO since 2004, will step down when his contract expires in December, the Chicago-based derivatives marketplace announced Monday. The board has appointed current Executive Chairman Terrence Duffy to the expanded role of executive chairman and president, and current President Phupinder Gill to take over as CEO when Donohue’s contract expires. Additionally, the board extended Duffy’s and Gill’s contract agreements. “Donohue, Duffy and Gill, who have worked together in the office of the CEO for the last eight years, will work together over the next several months to effectuate an orderly leadership transition,” the board said. Duffy will continue to take a hands-on approach in government relations, corporate marketing and communications. Gill, who will report to Duffy, will be responsible for all other aspects of running the company. The current management team will remain in place, the board said.

A Vectren Corp. official told a panel of Indiana lawmakers on Tuesday that the state’s 30-year contract to purchase coal-to-substitute natural gas (SNG) from a New York company should be modified so smaller gas customers aren’t stuck with the bill should the deal prove to be a bad investment.

Generally moderate weather predictions, such as the Chicago area reaching the low to mid 50s Tuesday, didn’t suggest any likelihood of spot prices increasing Monday. But cash traders either thought otherwise or were looking ahead to near the end of the week, when cold fronts would be moving into such areas as the Midwest.

Atlanta-based AGL Resources and Naperville, IL-based Nicor Inc. received approval of their merger from the Illinois Commerce Commission (ICC), the final regulatory nod needed to create a natural gas distribution behemoth operating in seven states.

Aux Sable Midstream (ASM) plans to build a natural gas liquid (NGL) truck unloading facility at its Palermo Conditioning Plant in Palermo, ND to serve growing production of NGL-rich gas from the Bakken Shale.

Chicago-based Integrys Energy Group Inc. last Thursday moved into the natural gas transportation business, acquiring two compressed natural gas (CNG) fueling companies. It is a first for the owner/operator of six utilities in the Upper Midwest.

Aux Sable Liquid Products LP unit Sable NGL LLC is buying the Stanley Condensate Recovery Plant and Prairie Rose Pipeline from a unit of EOG Resources Inc., the company said Friday.

Chicago-area LDC Nicor Gas lifted Tuesday caps on deliveries into its system that had been in effect for weeks, saying storage injections at the Nicor Gas Hub would no longer be interrupted.