Handed

Williams, EnCana, Enserco Pay Millions to Settle Market Manipulation Charges

The U.S. Commodity Futures Trading Commission (CFTC) last week handed U.S. taxpayers a total of $43 million from civil monetary penalties from Williams, EnCana and Enserco for settling charges of attempted gas market manipulation and false price reporting to gas index publications. In the settlements, the companies neither admitted nor denied the findings in the CFTC’s orders.

August 4, 2003

Analyst: Bitumen Policy Will Strain Already Tight Canadian Gas Market

Although a final decision has not yet been handed down by the Alberta Energy and Utilities Board (EUB) on its proposed plan to shut in 900 natural gas wells in the Athabasca Oil Sands area in northeastern Alberta on Aug. 1 in order to preserve crude bitumen production, such a decision could have a significant upward impact on Canadian gas prices, according to Thomas Driscoll of Lehman Brothers. Driscoll estimates that gas consumption in Canada would have to decline 6-10% this year as a result of the policy decision.

July 14, 2003

Analyst: Bitumen Policy Will Strain Already Tight Canadian Gas Market

Although a final decision has not yet been handed down by the Alberta Energy and Utilities Board (EUB) on its proposed plan to shut in 900 natural gas wells in the Athabasca Oil Sands area in northeastern Alberta on Aug. 1 in order to preserve crude bitumen production, such a decision could have a significant upward impact on Canadian gas prices, according to Thomas Driscoll of Lehman Brothers. Driscoll estimates that gas consumption in Canada would have to decline 6-10% this year as a result of the policy decision.

July 9, 2003

FERC Gives Nods to Pipe, LNG and Storage Projects to Serve Southeast

The Federal Energy Regulatory Commission last week handed out certificates for a pipeline expansion in the Mid-Atlantic region and a new Gulf Coast storage project, and issued a preliminary determination (PD) on non-environmental grounds for an expansion at El Paso’s Elba Island liquefied natural gas (LNG) import terminal in Georgia. All of the projects are designed to serve growing gas demand, primarily from gas-fired power generation, in the Southeast region.

November 25, 2002

FERC Gives Nods to Pipe, LNG and Storage Projects

The Federal Energy Regulatory Commission on Wednesday handed out certificates for a pipeline expansion in the Mid-Atlantic region and a new Gulf Coast storage project, and issued a preliminary determination (PD) on non-environmental grounds for an expansion at El Paso’s Elba Island liquefied natural gas (LNG) import terminal in Georgia. All of the projects are designed to serve growing gas demand, primarily from gas-fired power generation, in the Southeast region.

November 21, 2002

Andersen’s Sentence, Fine Harshest Allowed Under Law

U.S. District Judge Melinda Harmon handed Arthur Andersen LLP the maximum sentence in Houston on Wednesday — five years probation and a $500,000 fine — for obstructing justice in its handling of Enron Corp.-related documents that stymied a federal investigation of the company’s finances. Although it seemed minuscule when compared to the substantial market damage caused by the Enron scandal, the punishment was the harshest allowed under law. Andersen attorneys said they would appeal.

October 21, 2002

Andersen’s Sentence, Fine Harshest Allowed Under Law

U.S. District Judge Melinda Harmon handed Arthur Andersen LLP the maximum sentence in Houston on Wednesday — five years probation and a $500,000 fine — for obstructing justice in its handling of Enron Corp.-related documents that stymied a federal investigation of the company’s finances. Although it seemed minuscule when compared to the substantial market damage caused by the Enron scandal, the punishment was the harshest allowed under law. Andersen attorneys said they would appeal.

October 17, 2002

FERC Gives Nod to Several Pipeline, Storage Projects

The Federal Energy Regulatory Commission was in a giving mood last Thursday as it handed out a number of certificates and permits for pipeline and storage expansion projects filed by Colorado Interstate Gas Co. (CIG), Maritimes & Northeast Pipeline LLC, Egan Hub Partners LP, Iroquois Gas Transmission and Reef International LLC.

June 3, 2002

Senate Dems to Press FERC on CA Price Relief

On the same day that he was handed the reins of the Senate Energy and Natural Resources Committee, Senator Jeff Bingaman (D-NM) said that bipartisan legislation directing FERC to set cost-based rates to ensure just and reasonable wholesale energy prices in California could get consideration from the panel within the next couple of weeks. Separately, newly-minted Senate Majority Leader Tom Daschle (D-SD) made it clear earlier this week that he stands ready to support such legislation if FERC falls short of meeting its just and reasonable obligations.

June 7, 2001

AGL, VNG Enter into an Energy Services’ First

Following an approval handed down by the Virginia StateCorporation Commission, AGL Energy Services will now provide energyservices including natural gas acquisition and gas transportationmanagement to Norfolk-based Virginia Natural Gas’ 230,000 customersin southeastern Virginia.

December 11, 2000