Drawing

FERC has sent Dominion Resources and its merged partner,Consolidated Natural Gas (CNG), back to the drawing board to expandthe scope of the pipeline marketing affiliate rule to apply to allenergy affiliates within their corporate family.

FERC sent Dominion Resources and its merged partner,Consolidated Natural Gas (CNG), back to the drawing board last weekto expand the scope of the pipeline marketing-affiliate rule toapply to all energy affiliates within their corporate family. Thisaction is in keeping with the Commission’s crackdown on abusesbetween pipelines and affiliates.

Those bemoaning the lackluster performance of integrated gas andutility stocks can blame their woes, at least in part, on theInternet and the technology revolution, according to one analyst.Prudential Securities’ Carol Coale said investors have beenshifting their attention, and their dollars, from the “old economy”to a new one. “Whether it’s Internet or high-tech, we’re seeing amajor sector shift,” she told NGI. Also to blame, Coale said in aPrudential research note, is bearish gas market sentiment.

Those bemoaning the lackluster performance of integrated gas andutility stocks can blame their woes, at least in part, on theInternet and the technology revolution, according to one analyst.Prudential Securities’ Carol Coale said investors have beenshifting their attention, and their dollars, from the “old economy”to a new one. “Whether it’s Internet or high-tech, we’re seeing amajor sector shift,” she told Daily GPI. Also to blame, Coale saidin a Prudential research note, is bearish gas market sentiment.

Producers and marketers have asked FERC to send Natural GasPipeline Co. of America (NGPL) back to the drawing board to makethe changes to its auction tariff procedures that were ordered bythe Commission.

Neither the interstate pipelines nor gas producers wereparticularly enamored of FERC’s latest attempt to create a morebalanced, lighter-handed system for regulating gas pipelines on theOuter Continental Shelf (OCS). They both agree the Commission fellshort of its goal in the July proposed rulemaking.

Neither the interstate pipelines nor gas producers wereparticularly enamored with FERC’s latest attempt to create a morebalanced, lighter-handed system for regulating gas pipelines on theOuter Continental Shelf (OCS). They both agree the Commission fellshort of its goal in the July proposed rulemaking.

FERC sent one major Midwest-to-Northeast pipeline project backto the drawing board last week but gave another competing project afinal green light. The $447 million Vector Pipeline emergedvictorious, receiving FERC’s final approval and a presidentialpermit in a draft order, while the $400 million TriState Pipelinewas told it must redesign the pipeline-lease portion of itsproposal to get FERC’s rubber stamp.

The Canadian-Nova Scotia Offshore Petroleum Board and the NovaScotia Petroleum Directorate awarded 19 offshore Nova Scotiaexploration licenses and three onshore licenses yesterday for atotal of C$592 million, the largest investment in petroleumexploration ever made in Nova Scotia.