Tenaska Marketing Ventures/Tenaska Marketing Canada/Tenaska Gas Storage (collectively TMV) has renewed a $1 billion committed credit facility for a four-year term maturing in July 2014. The facility, first established in 2006, will be used to finance TMV’s natural gas inventory transactions and as liquidity support for TMV’s operations. TMV is the natural gas marketing affiliate of Tenaska, which recently was ranked eighth in NGI’s North American natural gas quarterly trading survey (see Daily GPI, June 10). Tenaska regained control of TMV in January 2009 after completing a repurchase from affiliates of American International Group Inc., which at the time owned a half stake in the venture (see Daily GPI, Jan. 9, 2009). BNP Paribas and Societe Generale were co-lead arrangers of the credit facility renewal; the Bank of Tokyo-Mitsubishi UFJ, Ltd., Rabobank Nederland, Natixis and Credit Agricole CIB were co-documentation agents. A total of 20 lenders participated in the facility.
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Long-Term Investments Key, Says ExxonMobil Exec
To successfully meet the world’s future energy needs, the oil and gas industry has to make investments and be committed for the long haul, Rich Kruger, president of ExxonMobil Production Co., said last week.
ExxonMobil Exec Urges Industry to Make Long-Term Commitments
To successfully meet the world’s future energy needs, the oil and gas industry has to make investments and be committed for the long haul, Rich Kruger, president of ExxonMobil Production Co., said Monday.
BP Revamps Alternatives Business But Says Strategy Unchanged
BP plc remains committed to moving the company “beyond petroleum” despite a decision to downsize its alternative energy unit, company officials said last week.
BP Revamps Alternatives Business But Says Strategy Unchanged
BP plc remains committed to moving the company “beyond petroleum” despite a decision to downsize its alternative energy unit, company officials said this week.
Senate Panel to Tackle Hot-Button Energy Issues After Recess
The Senate Energy and Natural Resources Committee began its mark-up of a broad energy bill last Tuesday, focusing first on the less contentious issues — such as energy efficiency — and then moving to the meatier and more controversial issues following a two-week recess for Easter and Passover.
Horn River Producers Take Fort Nelson Capacity
Seven Horn River Basin producers have committed to 760 MMcf/d of gathering and processing capacity on an expansion of Spectra Energy Corp. facilities in Fort Nelson, British Columbia, the company said last Thursday. The expansion could accommodate up to 830 MMcf/d of incremental gas from the burgeoning Horn River.
Horn River Producers Step Up for Fort Nelson Capacity
Seven Horn River Basin producers have committed to 760 MMcf/d of gathering and processing capacity on an expansion of Spectra Energy Corp. facilities in Fort Nelson, British Columbia, the company said Thursday. The expansion could accommodate up to 830 MMcf/d of incremental gas from the burgeoning Horn River.
Linda Lay Says Husband Committed No Crimes
The widow of Enron Corp. founder Kenneth Lay stated in a court filing in Houston Friday that her husband never committed any crimes, and she is entitled to keep all of the property and money that the government is seeking from his estate.
Gulf Crossing Pipe Project Gets FERC Environmental Nod
FERC Friday awarded a favorable draft environmental review to Gulf Crossing Pipeline Co. LLC and Gulf South Pipeline LP, subsidiaries of Boardwalk Pipeline Partners LP, to build a major pipeline and associated facilities that would transport gas from supply regions in Texas and Oklahoma to the Perryville Hub in northern Louisiana.
