Currently

One of the energy sector’s currently financially healthy conglomerates, San Diego-based Sempra Energy purchased the natural gas trading book of financially struggling Michigan-based CMS Energy’s trading unit for $17 million, subject to final due-diligence reviews.

Transwestern Pipeline is disputing California regulators’ claims that an index-based rate contract negotiated with Dynegy Marketing and Trade violates a FERC order barring the Enron-affiliated pipeline from doing such deals for a one-year period.

Transwestern Pipeline is disputing California regulators’ claims that an index-based rate contract negotiated with Dynegy Marketing and Trade violates a FERC order barring the Enron-affiliated pipeline from doing such deals for a one-year period.

While noting his company’s good fortune to be thriving currently in the otherwise troubled energy sector, Sempra Energy’s CEO Stephen Baum last week reiterated in a third quarter financial results conference call that the company wants to stay “flexible” so it can go after assets that are increasingly being sold at deep discounts. Baum specifically mentioned trading books as being on Sempra’s radar screen.

While noting his company’s good fortune to be thriving currently in the otherwise troubled energy sector, Sempra Energy’s CEO Stephen Baum Tuesday reiterated in a third quarter financial results conference call that the company wants to stay “flexible” so it can go after assets that are increasingly being sold at deep discounts. Baum specifically mentioned trading books as being on Sempra’s radar screen.

Lawmakers meeting last Thursday to craft a comprehensive energy bill reached a compromise related to pipeline integrity inspections under which facilities with the highest risk factors will be given priority for completing inspections within a five-year period.

Citing a number of factors affecting the energy industry currently, Bedminster, NJ-based NUI Corp. reported earnings from continuing operations of $16.7 million ($1.18 per share) for the second quarter ended March 31, compared to $18.3 million ($1.41 per share) for the same quarter last year. Despite the decline, the company said it is not changing its current guidance of $1.80 – $1.90 per share for fiscal 2002, excluding the effect of the change in accounting and all non-recurring and discontinued items.

Transcontinental Gas Pipe Line announced that it is currently in the planning stages to develop an expansion of its pipeline system in the Northeast United States. Known as the Sentinel Expansion Project, Transco said the endeavor could have a capital cost of up to $300 million.

Transcontinental Gas Pipe Line announced that it is currently in the planning stages to develop an expansion of its pipeline system in the Northeast United States. Known as the Sentinel Expansion Project, Transco said the endeavor could have a capital cost of up to $300 million.