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The Natural Gas Council (NGC), which includes the major gas associations in Washington, DC, Wednesday said it opposed Democratic legislation that would strip FERC of its existing authority to review, approve and site liquefied natural gas (LNG) import terminals.

The number of parties challenging the Environmental Protection Agency’s (EPA) December endangerment finding has grown into quite a crowd that includes three states and a number of industry groups.

The number of parties challenging the Environmental Protection Agency’s (EPA) December endangerment finding has grown into quite a crowd that includes three states and a number of industry groups.

MRT said it will implement a System Protection Warning (SPW) effective at the start of the Nov. 26 (Thanksgiving) gas day until further notice. It includes restrictions against the creation of daily long imbalances and make-up of short due-pipe positions. See the bulletin board for details.

FERC on Friday gave Vector Pipeline LP the go-ahead to place into service its Athens Compressor Expansion Project in Michigan and Indiana.

Canadian Superior Energy Inc. shareholders voted to approve the acquisition of Challenger Energy Corp. and voted in favor of a new board of directors, which now includes Kerry R. Brittain, Marvin M. Chronister, James Funk, William Roach, Gregory G. Turnbull and Richard Watkins. All other annual meeting resolutions also were approved by shareholders, the Calgary-based producer said. Canadian Superior, which restructured after filing for bankruptcy in April, said in June it would acquire Challenger in a friendly transaction worth an estimated C$78 million, including debt (see Daily GPI, June 22). The combined company would produce an estimated 3,050 boe/d, 85% weighted to natural gas. Besides undeveloped assets in Alberta and British Columbia, the company would hold diversified assets in Trinidad and Tobago and North Africa.

A subsidiary of Plains All American Pipeline LP (PAA) will pay $220 million for Vulcan Capital’s 50% interest in PAA Natural Gas Storage, the companies said. The purchase price includes $90 million cash, 1.9 million PAA common units valued at $90 million and deferred contingent cash consideration up to $40 million. The transaction is expected to close Thursday. The transaction will give PAA 100% of the natural gas storage business and related operating entities, which will be accounted for on a consolidated basis. At closing PAA will repay the joint venture’s outstanding project finance debt using joint venture cash and borrowings under its revolving credit facility. As of June 30 the joint venture had approximately $450 million of debt and approximately $52 million of cash. PAA management intends to recommend to its board of directors an increase in the partnership’s quarterly distribution level to 92 cents/unit effective with the November distribution.

A tentative deal to close California’s $26 billion budget deficit includes provisions for reopening limited offshore oil drilling along the Santa Barbara coast. A similar compromise for boosting state revenues with the first new drilling in 40 years was rejected last January by the California State Lands Commission, but has been given new life in the budget talks (see Daily GPI, Feb. 2).

With the start of the 2008-2009 winter heating season less than a week away, new storage and pipelines facilities are revving up to serve markets in the Northeast, Pacific Northwest, Southeast and South. The Federal Energy Regulatory Commission has given the go-ahead to place in service a pipeline expansion in Florida, storage-related pipeline facilities in Louisiana and a storage withdrawal expansion in the Pacific Northwest, and is mulling over requests for a Nov. 1 start-up of a new storage cavern along the Gulf Coast and pipeline expansion facilities to serve the Long Island and New York markets.