Entire

Questar Pipeline Co. said it is moving forward with its Southern Trails pipeline project, following a deal with Duke Energy for the entire 80,000 Dth/d of firm transportation capacity on the eastern segment (east of California) of the 705-mile pipeline, a converted oil line which runs from Blanco, NM, to Long Beach, CA. However, the 120,000 Dth/d of firm capacity on the western segment will go unused until Southern California Gas’s tariff is changed, a spokesman said.

Duke Energy reported on Monday it would be willing to acceptless money for the power it sold in California during January andFebruary, as long as assurances are made by the CaliforniaIndependent System Operator (Cal-ISO) and the California PowerExchange (Cal-PX) that it will be paid. Duke said if guarantees aremade, it will waive the credit premiums on its bids and accept theFederal Energy Regulatory Commission’s (FERC) clearing price fortransactions during those months.

Duke Energy Monday offered to manage San Diego Gas andElectric’s entire power supply in its comments to the FederalEnergy Regulatory Commission on proposals for solving California’snagging wholesale electricity problems. There are no negotiationsongoing, and SDG&E initially indicated it has not received anyformal offer from Duke.

Duke Energy Monday offered to manage San Diego Gas andElectric’s entire power supply in its comments to the FederalEnergy Regulatory Commission on proposals for solving California’snagging wholesale electricity problems. There are no negotiationsongoing, and SDG&E initially indicated it has not received anyformal offer from Duke.

Calgary’s Petrobank Energy and Resources Ltd. has agreed to sellabout 85% of its entire production — petroleum and natural gasinterests in the Alder Flats and Cynthia areas of Alberta — forC$85 million to an unidentified “large independent oil and gasproducer.” Petrobank said the sale is effective Aug. 1, subject toregulatory and shareholder approvals. Closing is expected in earlyJanuary. Proceeds from the sale will be used to pay down debt andprovide capital for new projects.

AES Power Direct LLC, a retail electric provider, completed itspurchase of the entire stock of bankrupt marketer Titan Energy Inc.of Toronto for an estimated $6 million in cash last Thursday aftera bankruptcy judge in Georgia authorized the sale earlier in theweek.

Expected rises in gas demand, a relatively slow storage buildup,strong crude oil prices and fears of a repeat of last summer’s heatwave in key gas-consuming areas will pave the way for unprecedentednatural gas prices for the rest of the year, the Energy InformationAdministration (EIA) said in its short-term energy outlook forJune.

Expected rises in gas demand, a relatively slow storage buildup,strong crude oil prices and fears of a repeat of last summer’s heatwave in key gas-consuming areas will pave the way for unprecedentednatural gas prices for the rest of the year, the Energy InformationAdministration (EIA) said in its short-term energy outlook forJune.

After trading within a tight, 20-cent range for almost theentire month of March, natural gas futures finally broke throughstubborn resistance just before the closing bell yesterday in alocal and fund led rally. Advancing 7.8 cents to finish at $2.914,the April contract narrowly edged out the 7.6 gain achieved by theMay contract. Estimated volume was moderate with 74,886 contractschanging hands.