Definitive

Looking to extend its direct market access within the state of Ohio, Columbus, OH-based North Coast Gas Transmission LLC said it has executed a definitive agreement to acquire pipeline assets in northern Ohio that will interconnect with the company’s existing pipeline. The acquisition will extend North Coast’s direct market access from Fostoria, OH to Toledo and Marion.

The board of directors of NorthWestern Corp. on Tuesday said that the company has reached a definitive agreement with Babcock & Brown Infrastructure (BBI) under which BBI will acquire NorthWestern in an all-cash transaction at $37 per share, valuing NorthWestern at $2.2 billion.

Aquila Inc. signed definitive agreements last week to sell four utility businesses in Michigan, Minnesota, Missouri and Kansas for a total of $896.7 million, or about $20 million more than estimated in March when it announced its intention to divest the utility assets. The majority of the assets, including Michigan Gas Utilities and Minnesota Gas, went to WPS Resources Corp. for $558 million.

Aquila Inc. said Wednesday it signed definitive agreements to sell four utility businesses in Michigan, Minnesota, Missouri and Kansas for a total of $896.7 million, or about $20 million more than estimated in March when it announced its intention to divest the utility assets.

Princeton, NJ-based NRG Energy Inc. and Houston-based Texas Genco LLC Sunday announced they entered into a definitive agreement for NRG to acquire the outstanding equity of Texas Genco for $5.8 billion, including $4 billion cash and $1.8 billion in common and preferred stock. In addition, NRG said it will assume $2.5 billion of Texas Genco’s debt. The announcement came a scant six months after the partnership of investment firms holding Texas Genco bought the merchant generating unit from CenterPoint Energy for $3.65 billion.

Denver-based PRB Gas Transportation, Inc. and Calgary-based Enterra Energy Trust said Wednesday that they have finalized the definitive agreement to develop coal bed methane properties in an area of mutual interest in Wyoming and Montana. As reported in July (see Daily GPI, July 13), PRB will have the right to earn up to a 50% working interest in certain properties of Enterra’s recently acquired subsidiary, Rocky Mountain Gas (RMG).

Sempra Energy on Monday announced it reached a definitive agreement to sell an indirect subsidiary whose principle assets are two natural gas storage facilities, Bluewater Gas Storage and Pine Prairie Energy Center, for approximately $250 million to a joint venture of Plains All American Pipeline LP and Vulcan Capital.

Canada’s Irving Oil and Spain’s Repsol, a major player in the global liquefied natural gas (LNG) business, have signed definitive partnership agreements on development of the 1 Bcf/d Canaport LNG terminal in St. John, NB, which would be connected to Irving Oil’s refinery and the eastern Canadian pipeline grid. The terminal is expected to be operational, delivering regasified LNG into the marketplace, in 2008.

Canada’s Irving Oil and Spain’s Repsol, a major player in the global liquefied natural gas (LNG) business, have signed definitive partnership agreements on development of the 1 Bcf/d Canaport LNG terminal in St. John, NB, which would be connected to Irving Oil’s refinery and the eastern Canadian pipeline grid. The terminal is expected to be operational, delivering regasified LNG into the marketplace, in 2008.