Inks

Marathon Oil Corp. said Tuesday it signed an agreement with BP Energy Co. to receive 58 Bcf of natural gas annually in the form of liquefied natural gas (LNG) for a minimum term of five years beginning in mid-2005.

Dominion last week said that it has reached an agreement to acquire three electric power generation facilities from USGen New England Inc., a subsidiary of National Energy & Gas Transmission Inc. (NEGT), for $536 million in cash, plus an adjustment for inventory and reimbursement of certain capital expenditures incurred prior to closing.

A subsidiary of Paris-based E&P giant Total has signed a 20-year agreement with Cheniere Energy Inc. for 1 Bcf/d of regasification capacity at the proposed Sabine Pass, LA, liquefied natural gas (LNG) import terminal, which received a favorable draft environmental review by the Federal Energy Regulatory Commission last month (see NGI, Aug. 16).

Adding to its portfolio of energy management services clients, Cinergy Corp. on Tuesday said its marketing and trading affiliates will provide a number of services for generating facilities located in the Southeast that were recently sold by Duke Energy to KGen Power LLC. Terms of the services agreement were not disclosed.

ONEOK Energy Marketing & Trading on Friday signed multi-year, multi-million dollar gas supply agreement with Chicago-based Peoples Gas Light and Coke Co. Although the companies did not specify the quantity of gas to be delivered by ONEOK at the Chicago citygate, ONEOK said that based on current futures prices, gas revenues under the agreement would total $300-575 million.

Florida Power & Light (FP&L) affiliate FPL Group Resources LLC has signed a conditional agreement with Ras Laffan Liquefied Natural Gas Co. Ltd. (II), a joint venture between Qatar Petroleum and ExxonMobil RasGas Inc., for supply of liquefied natural gas (LNG) from Qatar to a proposed LNG import terminal at South Riding Point on Grand Bahama Island.

National Energy & Gas Transmission Inc. (NEGT) last Tuesday unveiled a definitive agreement for Denali Power LLC, a company formed by affiliates of ArcLight Capital Partners LLC and Caithness Energy LLC, to acquire NEGT’s equity interests in 12 power plants and an ownership stake in the Iroquois Gas Transmission System for approximately $558 million, subject to certain post-closing adjustments as specified in the definitive agreement.

ONEOK Energy Marketing & Trading on Friday signed multi-year, multi-million dollar gas supply agreement with Chicago-based Peoples Gas Light and Coke Co. Although the companies did not specify the quantity of gas to be delivered by ONEOK at the Chicago citygate, ONEOK said that based on current futures prices, gas revenues under the agreement would total $300-575 million.

National Energy & Gas Transmission Inc. (NEGT) late Tuesday unveiled a definitive agreement for Denali Power LLC, a company formed by affiliates of ArcLight Capital Partners LLC and Caithness Energy LLC, to acquire NEGT’s equity interests in 12 power plants and an ownership stake in the Iroquois Gas Transmission System for approximately $558 million, subject to certain post-closing adjustments as specified in the definitive agreement.