California Gov. Gray Davis’ $68 billion fiscal 2001 budgetproposal unveiled this week includes little or no emphasis onenergy issues, although some of the stated concerns about”infrastructure” may spill over into reliability issues in the gasand electricity transmission/distribution industries. For energyindustry observers there are mostly unanswered questions, includingpeople within state government.
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GRI Studies Alternatives: ‘What if’ Supply Estimates Derailed?
While the Gas Research Institute maintains the most likelyfuture for natural gas includes low prices and a 31 Tcf market by2015, it is hedging its bets with a new study examining the outcomeif not all the expected pieces fall into place.
GRI Study: ‘What if’ Supply Estimates Derailed?
While the Gas Research Institute maintains the most likelyfuture for natural gas includes low prices and a 31 Tcf market by2015, it is hedging its bets with a new study examining the outcomeif not all the expected pieces fall into place.
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Joseph W. Sutton has been promoted to vice chairman of Enron.Sutton will join Enron’s office of the chairman, which includesChairman and CEO Kenneth L. Lay and President and COO Jeffrey K.Skilling. Sutton, previously chairman and CEO of Enron’sinternational business unit, will help oversee the day-to-dayoperations of Enron’s business units.
Enogex Buying Transok for $700 M
Shell Oil affiliate Tejas Energy agreed to sell its Transokaffiliate to Enogex Inc. for about $700 million, which includesEnogex’s assumption of $173 million of long-term debt. Transok isheadquartered in Tulsa and operates more than 5,000 miles ofpipelines with capacity of about 2.5 Bcf/d and nine gas processingand treating plants.
Producers Advised to Reinvent the Business
The only thing John Olson, senior energy analyst for SandersMorris and Mundy, needed last week following his speech at aproducers’ conference on gas supply and demand at the Canadianembassy in Washington, D.C., was a producer to volunteer to step upon stage and be slapped around.
Maritimes Gets Environmental OK in Maine
Maritimes & Northeast Pipeline received approval from theMaine Board of Environmental Protection (BEP) to construct Phase IIof its project. Phase II includes about 200 miles of 24-inch and30-inch diameter mainline pipeline traversing southern, central andeastern Maine from Westbrook to Baileyville, ME, as well as about120 miles of proposed laterals and spurs to serve Maine industrialsand electric generators.
Peoples Energy Buys mc2 Retail Portfolio
Peoples Energy Services has purchased the Midwest portfolio ofKN Energy subsidiary mc2 for an undisclosed sum. The transactionincludes 8,000 gas contracts, inventories and related receivables,increasing PE Services’ customer base to more than 20,000 Chicagoarea businesses, the largest of any supplier in the Chicago market,the company said.
Foothills Throws in with Alaska LNG Project
Foothills Pipe Lines Ltd. has joined as a sponsor of the AlaskaNorth Slope Gas Project, adding its pipeline expertise to the mixwhich includes producers and a marketer behind the multi-billiondollar project to carry North Slope gas to the Alaskan coast,liquefy it and ship the LNG to Pacific Rim markets.
Calpine Acquires Dow Power Plant
Independent power producer Calpine Corp. acquired Dow Chemical’s70 MW gas-fired power plant at Dow’s Pittsburg, CA, chemicalfacility for about $13 million. The deal includes Dow’s gaspipeline system that provides the plant with low-cost fuel fromSacramento basin gas fields. Key to the transaction is Calpine’splan to build a 500 to 700 MW gas-fired power plant adjacent toDow’s Pittsburg chemical plant. The new power plant will requirecapital of $250 million to $350 million and will generate enoughelectricity to power half a million households. The existing plantuses 16,000 MMBtu/d, and the new plant will use 80,000 to 90,000MMBtu/d.