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In a move FERC said will “create a more integrated and efficientinterstate pipeline grid,” the Commission adopted standards thisweek that will expand from one to three the number of intra-daynomination opportunities for shippers on all interstate pipelines.The intra-day nomination schedule was proposed by the Gas IndustryStandard’s Board in March, by FERC in a notice of proposedrulemaking in April and this week was made part of the Commission’sregulations with required pipeline implementation by Nov. 2.

FERC last week gave New York utilities a conditional go-ahead tocreate the New York Independent System Operator (NYISO), making itthe fourth ISO that the Commission has approved so far.

As part of a major reorganization plan, the American PetroleumInstitute (API) says it plans to establish a “natural gascomponent” aimed at attracting medium-to-small sized companies asnew members and at retaining current API members.

FirstEnergy Corp. and Belden & Blake Corp. agreed to createa joint venture called FE Holdings to acquire natural gasproperties. The companies also agreed to buy privately held MarbelEnergy Corp., a fully integrated natural gas company. “The creationof FE Holdings – with access to low-cost, high-quality explorationand production capabilities combined with utility distribution andtransportation facilities – will produce tremendous opportunitiesfor our company, customers and shareholders,” said FirstEnergy CEOWillard R. Holland. “The ability to offer customers bothelectricity and natural gas, as well as a wide range of otherenergy-related products and services, will further enhance ourposition as a strong competitor in the evolving energy industry.”

TransEnergy Management and SABRE Energy Network will interfacetheir respective software products. Under the agreement, users willhave the ability to submit pipeline nominations and to receiveconfirmations through TransEnergy’s Energy Marketing Systemelectronically using SABRE Energy’s SEN*Net product. SEN*Net is astandardized alternative to the numerous pipeline electronicbulletin boards (EBBs) through which most nominations andconfirmations for gas transactions are now made.

Halliburton Co. and Dresser Industries announced a $7.7 billionmerger agreement yesterday that will create the world’s largestdrilling and energy engineering company with combined 1997 revenuesof $16 billion and combined market capitalization of over $19billion. The firm, which will retain the Halliburton name will have100,000 employees worldwide. It will be based in Dallas, TX.