Standard & Poor’s (S&P) Rating Services placed the credit rating of Southern Union Co. on CreditWatch with “negative implications” after the distribution company announced in late December that it and AIG HighStar Capital LP had reached a definitive deal to buy CMS Energy’s Panhandle natural gas pipelines and liquefied natural gas (LNG) facilities for an estimated $1.83 billion.
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Southern Union’s Buy of CMS Assets Elicits S&P Warning
Standard & Poor’s (S&P) Rating Services placed the credit rating of Southern Union Co. on CreditWatch with “negative implications” Monday after the distribution company announced that it and AIG HighStar Capital LP had reached a definitive deal to buy CMS Energy’s Panhandle natural gas pipelines and liquefied natural gas (LNG) facilities for an estimated $1.83 billion.
El Paso Allocation Case Elicits Mixed ADR Reviews
A group of natural gas producers has called on FERC to step in and settle once and for all the controversial issue of re-designing the capacity-allocation procedures of El Paso Natural Gas so that “firm” capacity on El Paso would really come to mean firm, and the practice of overbooking firm primary transportation capacity would become history at the pipeline’s SoCal/Topock delivery point into California.
CPUC Complaint Against El Paso Elicits Support
A small group of producers and marketers yesterday said they”fully support[ed]” the complaint in which California regulatorsaccused El Paso Natural Gas and its marketing affiliate El PasoMerchant Energy Co. of anti-competitive practices and affiliateabuse in connection with the $38.5 million contract arrangementbetween the two.
Inspection Program Elicits Debate
State regulators yesterday called on the Department ofTransportation (DOT) to put a hold on any proposed changes to aprogram that gives states authority to act as agents of the federalgovernment to conduct safety inspections of interstate pipelines intheir respective states.
NiSource Play for Columbia Elicits 3rd-Party Interest
Against the backdrop of NiSource Inc.’s hostile takeover bid forColumbia Energy Group, a number of U.S. and foreign electriccompanies were emerging last week as potential third-party suitorsfor the diversified energy concern.
FERC’s Relaxation of Ex Parte Rules Elicits Support, Concerns
The proposed rulemaking calling for a relaxation of FERC’srestrictive policy for off-the-record communications is “essentialto providing timely and adequate information” for the Commissionstaff to conduct environmental reviews of proposed pipelineprojects, the Interstate Natural Gas Association of America (INGAA)said last week.
Gas Options Paper Elicits Lawmakers’ Interest
The natural gas policy options paper, still officially underwraps at FERC, apparently has blown enough of its cover to piquethe interest of lawmakers on Capitol Hill, and start the war-drumswithin the industry, according to sources.