Hopes

To set the stage for what it hopes will lead to more natural gaspipelines between the Lone Star State and Mexico, the TexasRailroad Commission has been named the lead agency to coordinatepermit requirements for Texas/Mexico cross-border pipelineprojects. The TRC will be responsible for issuing permits andcoordinating other state agencies’ activities.

A weather forecast that had ignited bullish hopes late last week(see Daily GPI, Feb. 2) appeared to begetting heavily discounted Monday. The result was huge downturns inboth cash and futures prices. California led the way with dollar-plusdrops, and all other markets were falling between about 50 cents and adollar.

Calgary-based Berkley Petroleum Corp. continues to fend off a C$1.4billion hostile takeover bid by Hunt Oil, announcing Monday that itwill open its data rooms next week to third parties in an attempt tolure a better buyer. Hunt, an independent based in Dallas, saw itsbid rejected last week by Berkley management (see Daily GPI, Jan. 2; Dec. 29,2000).

Expressing frustration but continuing its resolve, Texas-basedWestern Hub Properties is ironing out some “technical issues” offinancing with California regulators and now expects to startconstruction in February on its delayed Lodi gas storage field innorthern California.

Expressing frustration but continuing its resolve, Texas-basedWestern Hub Properties is ironing out some “technical issues” offinancing with California regulators and now expects to startconstruction in February on its delayed Lodi gas storage field innorthern California.

Avista-STEAG LLC and NRG Energy have entered into a partnershipin the hopes of adding 633 MW of power generation to Texas’ powerpool in 2003. The partnership will build, manage and operate thenatural gas-fired Brazos Valley project to be located in Fort BendCounty, TX, about 30 miles southwest of Houston.

Shell Energy Services Co. LLC, the third largest natural gas marketer in Georgia, hopes to extend its success in the residential arena to the large commercial and industrial market in the state with several new product offerings and a new website, www.shellenergyconnect.com.

Shell Energy Services Co. LLC, the third largest natural gasmarketer in Georgia, hopes to extend its success in the residentialarena to the large commercial and industrial market in the statewith several new product offerings and a new web site,www.shellenergyconnect.com.

A gang of heavy-hitters hopes to take global over-the-counter(OTC) trading of energy, metal and other commodities to a whole newballpark — the Internet, where liquidity is expected to be big.Last week’s announcement of the plan was followed by a relatedupset of Nymex board members and speculation that others will befollowing the group’s lead.