FERC Reviewing Certificate Policy

A FERC official last week confirmed that the Commission staff isreviewing its crucial “need” test used in certifying new pipelineprojects to determine whether any changes are warranted.

May 12, 1998

Voyageur Expansion Project in Doubt

Viking Gas Transmission, a partner in the Viking Voyageurpipeline expansion project, formally confirmed it has been unableto secure sufficient shipper support for the proposed expansion andis “reviewing its alternatives” on the project with its partners,TransCanada PipeLines and Nicor.

April 22, 1998

Unocal Scales Back Production, Spending Plans

Unocal Corp. confirmed its 1998 oil and gas production andcapital spending will be lower than originally anticipated becauseof the lower oil price outlook, but said it would continue toevaluate spending plans throughout the year. Production is expectedto be down 5% from earlier forecasts to 178,000 barrels of oilequivalent (BOE) per day. Capital spending is expected to total$1.30-$1.35 billion, about 10-13% percent below its earlierforecast.

April 22, 1998

Glynn Sees PG&E Trimming Assets

Without giving specifics, the CEO of PG&E Corp.confirmedhe is looking to sell some of its recently acquiredmulti-billion-dollar gas and electric assets in the U.S. andAustralia later this year.

April 20, 1998
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