Mirant Corp. subsidiary Mirant Energy Trading LLC said last Thursday that it has agreed with the U.S. Department of Justice (DOJ) on a resolution of the seven-year investigation into the knowing submission of inaccurate natural gas trade reports in 2000 by traders of former subsidiary Mirant Americas Energy Marketing LP (MAEM). Under terms of the agreement, Mirant Energy Trading is to pay an $11 million penalty to the U.S. Treasury.
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Analyst: Administration, Congress Have Tools to Respond to ‘Natural Gas Emergency’
If Hurricane Rita significantly disrupts domestic natural gas production off the coast of Texas, the Bush administration and Congress have a number of tools at their disposal to help the energy markets and their customers recover, said energy analyst Christine Tezak. Rita, which has been upgraded to a Category Five hurricane, is poised to severely hobble oil and natural gas production in the Western Gulf of Mexico, coming just three weeks after Hurricane Katrina disrupted activity offshore and onshore Louisiana.
September 22, 2005