Formal

EnCana Corp.’s revamped Deep Panuke natural gas project, which would be located about 250 kilometers offshore Halifax, received formal approval Tuesday by Nova Scotia and Canadian regulators even though the company has not yet decided whether to proceed.

A little less than a year after filing formal charges, the U.S. Commodity Futures Trading Commission (CFTC) said last week that a U.S. District Court judge in New York has imposed monetary sanctions of more than $3.6 million, a permanent injunction and other relief against Matthew Doyle of Wantagh, NY for using losing natural gas futures transactions to defraud his employer, Natural Futures LLC (NFL) — a New York Mercantile Exchange (Nymex)-registered floor broker.

A little less than a year after filing formal charges, the U.S. Commodity Futures Trading Commission (CFTC) said Wednesday that a U.S. District Court judge in New York has imposed monetary sanctions of more than $3.6 million, a permanent injunction and other relief against Matthew Doyle of Wantagh, NY for using losing natural gas futures transactions to defraud his employer, Natural Futures LLC (NFL) — a New York Mercantile Exchange (Nymex)-registered floor broker.

Public Service Enterprise Group (PSEG) and Exelon Corp. last week said that Exelon has given PSEG formal notice of termination of the merger agreement announced Dec. 20, 2004, and the companies have agreed to withdraw their application for merger approval, which had been pending before the New Jersey Board of Public Utilities (NJBPU) for more than 19 months.

Public Service Enterprise Group (PSEG) and Exelon Corp. on Thursday said that Exelon has given PSEG formal notice of termination of the merger agreement announced Dec. 20, 2004, and the companies have agreed to withdraw their application for merger approval, which has been pending before the New Jersey Board of Public Utilities (NJBPU) for more than 19 months.

NiSource and Piedmont Natural Gas have teamed up to develop a new 12 Bcf natural gas storage field in Hardy and Hampshire counties, WV. The Hardy Storage Company LLC filed a formal project application last week with the Federal Energy Regulatory Commission (FERC).

NiSource and Piedmont Natural Gas have teamed up to develop a new 12 Bcf natural gas storage field in Hardy and Hampshire counties, WV. The Hardy Storage Company LLC filed a formal project application this week with the Federal Energy Regulatory Commission (FERC).

As expected, Colorado Interstate Gas (CIG), a subsidiary of El Paso Corp., last week filed a formal application with FERC to construct the proposed Raton Basin expansion project (see NGI, Jan. 10). The project’s targeted date for initial service is Oct. 1, 2005, with full completion in December 2005. The $61 million expansion will add 104,600 Dth/d of natural gas transmission capacity from the Raton Basin to Midcontinent delivery systems in south-central Colorado and the Oklahoma Panhandle. El Paso said the project includes 102 miles of 16-, 20-, and 24-inch pipeline looping, 1,770 horsepower of additional compression and new metering facilities. “With this expansion, CIG will have more than 380,000 Dth/d of daily firm delivery capacity available to the production community in the Raton Basin. Both producers and shippers will benefit from our enhanced ability to deliver gas to premium growth markets,” said James Cleary, president of El Paso’s Western Pipeline Group. Five producing shippers have executed firm agreements with minimum 10-year terms for transportation services on the project. They are Pioneer Natural Resources Co., El Paso Energy Raton LLC, Red River Ranch Holding LLC, Apple Tree Holdings LLC and XTO Energy.

As expected, Colorado Interstate Gas (CIG), a subsidiary of El Paso Corp., on Tuesday filed a formal application with FERC to construct the proposed Raton Basin expansion project (see Daily GPI, Jan. 7). The project’s targeted date for initial service is Oct. 1, 2005, with full completion in December 2005.