Closes

FERC has given final environmental clearance to Tractebel Calypso Pipeline LLC for its proposed $132 million pipeline project, which would bring regasified liquefied natural gas (LNG) to Florida’s East Coast from a proposed import terminal in the Bahamas. This places the project on a fast track to receive a certificate from the Commission.

Dynegy Inc. officially stepped out of the natural gas midstream business on Tuesday, with the $2.475 billion sale of its gas gathering, processing and liquids operations to Targa Resources Inc., a tightly held Houston-based midstream operator affiliated with private equity investor Warburg Pincus. Dynegy now plans to consider “every opportunity” for its remaining power generation business, the CEO said.

Boosted by stronger results in its regulated business units, El Paso Corp. reported last week that it recorded a profit in 2Q2004. With Securities and Exchange Commission (SEC) approval, El Paso filed the quarterly statement late to reconcile prior income statements between 2001 and 2003.

To no one’s surprise, swing prices for the last day of June kept falling Tuesday. The usual suspects were at work: overall mild weather with daily highs unable to struggle higher than the 80s virtually everywhere outside the desert Southwest and Florida, and energy futures weakness the day before that remained in force Tuesday.

FERC on Friday issued final environmental clearance to Freeport LNG Development LP’s proposed liquefied natural gas (LNG) import terminal and natural gas pipeline facilities on Quintana Island in Brazoria County, TX, putting the project on track to become the second new LNG terminal approved for construction in the United States in the last 25 years.

FERC on Friday issued final environmental clearance to Freeport LNG Development LP’s proposed liquefied natural gas (LNG) import terminal and natural gas pipeline facilities on Quintana Island in Brazoria County, TX, putting the project on track to become the second new LNG terminal approved for construction in the United States in the last 25 years.

The slide that started Wednesday in cash prices got quite a bit steeper Thursday in trading done through the end of the month because of the Memorial Day holiday. Friday’s deals will be done for flows next Tuesday.

American Electric Power (AEP) executives last Tuesday said that the utility is in the final stages of selling Louisiana Intrastate Gas Co. (LIG) and is mulling options related to Houston Pipe Line Co. (HPL), which AEP purchased from now-bankrupt Enron Corp. in 2001.

American Electric Power (AEP) executives on Tuesday said that the utility is in the final stages of selling Louisiana Intrastate Gas Co. (LIG) and is mulling options related to Houston Pipe Line Co. (HPL), which AEP purchased from now-bankrupt Enron Corp. in 2001 (see Daily GPI, June 4, 2001).