Drawing

A proposed C$1 billion (US$881 million) natural gas pipeline ostensibly designed to move liquefied natural gas (LNG) from Kitimat, BC, to North American markets by 2009 is drawing a lot of interest from oilsands producers, according to officials.

Drawing on robust results in its energy trading and utility businesses, San Diego-based Sempra Energy Wednesday reported record net income for all of 2005 totaling $920 million, or $3.65/diluted share, compared with $895 million, or $3.83/diluted share in 2004. For the fourth quarter last year, net income was $255 million, or $1.38/diluted share, compared with $346 million, or $1.46/diluted share, for the same period of the previous year.

Of the nearly 60 liquefied natural gas (LNG) import terminals on the drawing board for North America, only six to 10 are likely to be built by 2012, according to an energy consultant with Poten & Partners.

Of the nearly 60 liquefied natural gas (LNG) import terminals on the drawing board for North America, only six to 10 are likely to be built by 2012, according to an energy consultant with Poten & Partners.

As the two smallest of the private-sector energy utilities in Colorado, Kinder Morgan and Aquila are drawing a line in the Rocky Mountain clay soil with the state regulatory commission staff’s proposal to change the rules on how and what the electric and natural gas distributors must do to determine allocation of their costs. The two energy suppliers argue that the proposal will result in long, costly litigation fights among the companies, Public Utilities Commission (PUC) staff and customers.

As the two smallest of the private-sector energy utilities in Colorado, Kinder Morgan and Aquila are drawing a line in the Rocky Mountain clay soil with the state regulatory commission staff’s proposal to change the rules on how and what the electric and natural gas distributors must do to determine allocation of their costs. The two energy suppliers argue that the proposal will result in long, costly litigation fights among the companies, Public Utilities Commission (PUC) staff and customers.

EnCana Corp. said it is drawing strong interest in the conventional oil and gas producing assets and the gathering and processing assets that it plans to auction to the highest bidder over the next few months. Among the assets on the block are about 15 properties in central and southern Alberta, 1.4 million acres offshore in the Gulf of Mexico, five production blocks in Ecuador, and some gathering and processing facilities in the Rocky Mountain region.

EnCana Corp. said it is drawing strong interest in the conventional oil and gas producing assets and the gathering and processing assets that it plans to auction to the highest bidder over the next few months. Among the assets on the block are about 15 properties in central and southern Alberta, 1.4 million acres offshore in the Gulf of Mexico, five production blocks in Ecuador, and some gathering and processing facilities in the Rocky Mountain region.

Drawing on findings from a benchmarking study of the largest U.S.- and Europe-based oil and natural gas companies, a study by UK-based consultant Wood Mackenzie has found that development expenditures for upstream projects reached record levels over a five-year period ending in 2003 at $49.5 billion compared with $34.6 billion in 1998.