Commercial

After officially entering service on Jan. 1 (see NGI, Jan. 12), Dominion’s Cove Point liquefied natural gas (LNG) expansion project went into full commercial service last Thursday after the Maryland segment of the project — 48 miles of 36-inch diameter pipeline loop — was completed.

After officially entering service on Jan. 1 (see Daily GPI, Jan. 6), Dominion’s Cove Point liquefied natural gas (LNG) expansion project went into full commercial service Thursday after the Maryland segment of the project — 48 miles of 36-inch diameter pipeline loop — was completed.

The American Public Gas Association (APGA) is seeking the closure of a potential loophole in proposed regulations in order to prevent traders in exempt commercial markets (ECM) from amassing positions “well in excess of the intended speculative position limit,” it said.

The American Public Gas Association (APGA) is seeking the closure of a potential loophole in proposed regulations in order to prevent traders in exempt commercial markets (ECM) from amassing positions “well in excess of the intended speculative position limit,” it said.

Results in natural gas gathering and commercial sales businesses produced a strong quarter for CenterPoint Energy, which reported net income of $136 million (39 cents/share) for 3Q2008, up from $91 million (27 cents/share) in 3Q2007.

Results in natural gas gathering and commercial sales businesses produced a strong quarter for CenterPoint Energy, which reported net income of $136 million (39 cents/share) for 3Q2008, up from $91 million (27 cents/share) in 3Q2007.

Westport, CT-based NGS Energy LP subsidiary Tres Palacios Gas Storage LLC began commercial operation at its Matagorda County, TX, gas storage project on Wednesday, the company said.

Fully contracted but still not processing liquefied natural gas (LNG) shipments on a commercial basis, San Diego-based Sempra Energy’s Costa Azul LNG receiving terminal along the Pacific Coast of North Baja California, Mexico, was dedicated by Mexico’s President Felipe Calderon Thursday in ceremonies at the site hosted by Sempra CEO Donald Felsinger.

Commercial finance provider CIT Group Inc. has arranged $125 million in senior secured financings for Arcadia Gas Storage, a salt dome gas storage facility to be developed in north-central Louisiana (see Daily GPI, Jan. 25, 2007). Arcadia is owned by Cardinal Gas Storage, a 50/50 joint venture of Martin Resource Management Corp. and Energy Capital Partners. The facility is to be constructed in two phases over the next three years and will have 7.8 Bcf of working capacity. Financing for the transaction was provided by CIT Energy, a unit of CIT. The senior secured credit facilities included construction, pad gas and accordion financing.