Giant

Energy giant Duke Energy and Cinergy Corp. on Tuesday filed an application with the Federal Energy Regulatory Commission seeking approval of their $9 billion all-stock merger by early 2006.

Energy giant Duke Energy Corp. announced Monday that it has entered into a definitive agreement to acquire Cincinnati, OH-based Cinergy Corp. for $9 billion in stock, creating a formidable utility company with 5.4 million natural gas and electric customers. Company officials also hinted the future might see Duke splitting off its natural gas assets and going forward as a pure electric play.

Natural gas utility giant AGL Resources last Tuesday said it had up to 1,100 MDth of working gas storage available to contract immediately at its Jefferson Island Storage & Hub facility near Henry Hub at Erath, LA.

Natural gas utility giant AGL Resources said Tuesday it has up to 1,100 MDth of working gas storage available to contract immediately at its Jefferson Island Storage & Hub facility near Henry Hub at Erath, LA.

While TransCanada Pipe Lines continues its push to revive its original route for the Alaska gas pipeline, another Canadian pipeline giant, Enbridge Inc., which made its mark in oil pipelines and now is moving into natural gas, is pressing the Canadian government to open up the field for competition.

While TransCanada Pipe Lines continues its push to revive its original route for the Alaska gas pipeline, another Canadian pipeline giant, Enbridge Inc., which made its mark in oil pipelines and now is moving into natural gas, is pressing the Canadian government to open up the field for competition.

While no one is putting a time estimate on it, the Australian resources giant BHP Billiton faces some detailed data requests from federal and state officials trying to put together a final draft environmental assessment of Billiton’s proposed liquefied natural gas (LNG) receiving terminal offshore Oxnard, CA. The government agencies stopped the regulatory clock on the Cabrillo Offshore LNG project during the first week of the New Year.

ExxonMobil Corp. and Qatar Petroleum said Wednesday they lined up $7.5 billion in financing for their giant Qatargas II project, which will export liquefied natural gas (LNG) to Great Britain. The companies said they tapped 57 financial institutions to fund the project, which carries an overall price tag of $12 billion. About $6.5 billion of the $7.5 billion raised to date is in the form of debt. Qatar Petroleum holds a 70% stake in the project, while ExxonMobil owns the remaining 30%. The two companies also said they had awarded $4.5 billion in engineering and construction contracts linked to the project, under which LNG shipments would commence during the winter of 2007-08 using eight tankers engaged on 25-year charters. The Qatargas II project will ship up to 7.8 million tons per year of LNG from a liquefaction plant at Qatar’s Ras Laffan Industrial City to a regasification terminal at Milford Haven in Wales. The initial $700 million construction phase of the Wales project was awarded last month to Texas-based Chicago Bridge & Iron Co.

A subsidiary of Paris-based E&P giant Total has signed a 20-year agreement with Cheniere Energy Inc. for 1 Bcf/d of regasification capacity at the proposed Sabine Pass, LA, liquefied natural gas (LNG) import terminal, which received a favorable draft environmental review by the Federal Energy Regulatory Commission last month (see Daily GPI, Aug. 13).