An independent arbitration panel has ordered Duke Energy to enter into discussions with ExxonMobil Corp. to buy out the major producer’s 40% ownership stake in Duke Energy Trading and Marketing (DETM), an ExxonMobil spokesman said.
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Duke, ExxonMobil Weigh Possible Buy-Out of Duke Partnership
An independent arbitration panel has ordered Duke Energy to enter into discussions with ExxonMobil Corp. to buy out the major producer’s 40% ownership stake in Duke Energy Trading and Marketing (DETM), an ExxonMobil spokesman said.
Futures Rebound to 15-Month Highs as Isidore Poised to Re-Enter Gulf of Mexico
After pressuring prices lower ahead of the weekend, natural gas futures traders bid the market back up Monday in reaction to forecasts calling for Isidore to re-strengthen as it moves off the Yucatan Peninsula into the warm waters of the Bay of Campeche. Buying was seen in two distinct surges. Prices bubbled steadily higher throughout the morning and then spiked at the closing bell. The October contract finished at $3.978, 22 cents higher for the day and just off its new 15-month top at $3.99. The November contract, which will become the prompt contract after October goes off the board Thursday at 2:30 p.m. EDT, finished 18.3 cents stronger at $4.175.
Gas Prices To Enter Critical Time Period
According to a seasoned gas trader and analyst, natural gas prices will have some difficult times in the upcoming late summer and fall period. With expected low shoulder month demand, accompanied by abundant supplies, something has to give.
Sempra Energy Inks MOU for Bolivian LNG
Sempra Energy and Pacific LNG, a consortium of Repsol YPF, BG Bolivia Corp. and Pan American Energy LLC, last week inked a memorandum of understanding to enter into exclusive negotiations for a baseload supply of liquefied natural gas (LNG) from Bolivia to meet growing markets in northwestern Mexico and Southern California.
Sempra Energy Inks MOU for Bolivian LNG
Sempra Energy and Pacific LNG, a consortium of Repsol YPF, BG Bolivia Corp. and Pan American Energy LLC, have inked a memorandum of understanding to enter into exclusive negotiations for a baseload supply of liquefied natural gas (LNG) from Bolivia to meet growing markets in northwestern Mexico and Southern California.
Boston Judge Clears Way for LNG Shipments
A federal judge in Boston Monday cleared the path for liquefied natural gas (LNG) shipments to enter Boston Harbor and be off-loaded at Distrigas of Massachusetts LLC’s terminal in Everett, MA, concluding that there was “no discernible claim” by the city of Boston that the LNG tankers posed a threat in the wake of the Sept. 11 terrorist strikes.
Kinder Morgan, Exelon Enter into TX Gas Supply Agreement
Subsidiaries of Kinder Morgan Energy Partners LP and Exelon Generation Co. LLC reported on Monday that they have entered into a long-term natural gas supply agreement. Under the terms of the transaction, Kinder Morgan Texas Pipeline will supply gas to ExTex LaPorte Ltd. Partnership’s new 160 MW generating facility located in LaPorte, TX.
Duke, BP Enter into Gathering and Processing Deal
Jumping into the rush to expand the Rocky Mountain region’s natural gas infrastructure, Duke Energy Field Services (DEFS) and BP America Inc. have signed a 12-year agreement to expand gathering and processing infrastructure and services to accommodate BP’s Greater Green River Basin drilling program in Wamsutter, WY.
Northern Border Enters Canadian Midstream
Northern Border Partners LP announced its intention to enter theCanadian midstream business. The company is buying the 87 MMcf/dMazeppa sour gas processing plant southeast of Calgary and aminority interest in the 85-mile Gregg Lake/Obed Pipeline (150MMcf/d of capacity), which is west of Edmonton, AB, from DynegyCanada. The purchase is expected to close during the first quarter.