Gone

A new 500 MMcf/d interconnect has gone into service in Macomb County, MI, offering two-way service between Bluewater Gas Storage’s facilities and Vector Pipeline’s system, the two companies said Friday.

A new 500 MMcf/d interconnect has gone into service in Macomb County, MI, offering two-way service between Bluewater Gas Storage’s facilities and Vector Pipeline’s system, the two companies said Friday.

Natural gas-fueled vehicles (NGVs) have not gone the way of the dodo bird, but with only 130,000 NGVs on the road today and the government’s attention now solely focused on hydrogen fuel-celled vehicles (FCV), that outcome could be on the horizon.

Indicative of just how far the parent has gone in dispossessing a wayward child, the San Francisco-based energy utility holding company PG&E Corp. said in a financial filing last Wednesday that it will go to trial next year over a $361 million tax refund its bankrupt former merchant energy unit, PG&E National Energy Group (NEG), is claiming as its own.

The two-year-old Liberal government in British Columbia, setting out to keep a promise to Canadian natural gas producers, has gone to bat for the latest effort to connect some of their hottest drilling targets to markets.

The two-year-old Liberal government in British Columbia, setting out to keep a promise to Canadian natural gas producers, has gone to bat for the latest effort to connect some of their hottest drilling targets to markets.

Dynegy Inc. on Monday cut its workforce about 14%, with nearly 600 positions lost in Houston and another 180 cut from offices around the United States, Canada and Europe. The news should not have been a surprise; Dynegy had prepared employees late last month with warnings that reductions would be coming (see Daily GPI, Sept. 30).

Most points registered double-digit losses ranging from a little more than a dime to about a quarter Monday. The exceptions of declines less than a dime tended to cluster in the Rockies and California, while significantly larger plunges of more than 30 cents and 80 cents were recorded at the Florida citygate and San Juan Basin respectively.

The senior executive bonuses for this year are gone, some of the long-term executive incentives have been eliminated, capital spending has been reduced even more, and up to $2 billion more in assets will be sold. As El Paso Corp.’s chairman noted, the interstate pipeline leader is not reacting, but rather responding to what shareholders and the marketplace now demand. “We are doing what management is supposed to do,” explained CEO William Wise on Thursday. “We are all sharing the pain.”