Northern Border Pipeline Co. said Thursday it has received commitments from shippers to support a proposed 130 MMcf/d expansion of its system into the Chicago market area.
Articles from Commitments
Northern Border Pipeline Co. said last Thursday it has received commitments from shippers to support a proposed 130 MMcf/d expansion of its system into the Chicago market area.
The asset that Enron Corp. sold to Dynegy Corp. last November to briefly boost its liquidity became Dynegy’s salvation as well last week, after the distressed energy marketer said it would sell its entire stake in Northern Natural Gas Co. (NNG) to Berkshire Hathaway’s MidAmerican Energy Holdings Co. for $928 million in cash and the assumption of $950 million in outstanding NNG debt. Dynegy took a $600 million loss on the deal, but gained the liquidity it needed to not just continue to operate, but also convince investors likewise.
Marking the fifth year in a row that it has met or exceeded its earnings growth commitments to Wall Street, UtiliCorp United reported Thursday full-year 2001 operating earnings of $2.44 per diluted share, a 17% increase over the previous year’s operating earnings per diluted share of $2.08. Earnings before interest and taxes (EBIT) for 2001 were $704.7 million, up 31% from $540 million a year earlier. The company also reported that sales for the year were up 39%, from $29 billion in 2000 to $40.4 billion for 2001.
Williams Transco pipeline has 526,000 Dt/d of binding commitments for its Momentum Expansion Project which “will be one of the largest mainline expansion projects constructed in Transco’s 50-plus year history,” according to Gary Lauderdale, senior vice president and general manager of the line.
Although no conclusions or commitments have been reached,Chevron is very actively pursuing studies leading to thedevelopment of a liquefied natural gas (LNG) receiving terminal ata still undetermined spot along the California coast to regasifythe equivalent of 500 MMcf/d of LNG from the Northwest Shelf offWestern Australia (see Daily GPI, March 20). Chevron is a one-sixthowner of the huge NW Shelf LNG Project involving 15 Tcf of gas nowbeing liquefied and shipped to markets in the Far East, and atwo-seventh partner in the not-yet-producing Gorgon Projectoffshore Western Australia.