Inter

Due to a gas quality problem, NGPL said the Superior Inter Wheeler receipt point in Wheeler County, TX, will be unavailable effective Thursday until further notice.

Not without challenges regarding increased inter-regional supply competition, price and peak demand capacity, natural gas in the Pacific Northwest faces the next five years in “good health,” with annual demand growth expected at 1.9%.

Not without challenges regarding increased inter-regional supply competition, price and peak demand capacity, natural gas in the Pacific Northwest faces the next five years in “good health,” with annual demand growth expected at 1.9%.

The Dallas-based Inter-American Development Bank (IADB) said Thursday that it will formally review Peru LNG’s request for a direct loan of $400 million for the development of a liquefied natural gas (LNG) export project in Peru. The project would deliver LNG to regasification terminals on Mexico’s West Coast and potentially to the U.S. West Coast starting in 2010. Hunt Oil, Spain’s Repsol and Korea’s SK Corp. are partners in the project, which would be located in Pampa Melchorita, Peru. The total investment in Peru LNG is expected to reach up to $3.2 billion. The project will take 620 MMcf/d of natural gas from the Ayacucho Mountains through a 250-mile, 32-inch diameter pipeline to the single-train liquefaction plant on the coast south of Lima, where it will be put into tankers bound for the western seaboard of North America. The Camisea E&P project has 8.7 Tcf of estimated reserves and adjacent development is expected to access another 3.5 Tcf of reserves. Gas production will likely exceed domestic demand for the foreseeable future, so project sponsors would like to export any excess to the North American West Coast.

Williams has completed the sale of three straddle plants in southern Alberta to Inter Pipeline Fund of Calgary for C$715 million (US$536 million). The sale includes Williams’ 100% ownership interest in the Cochrane and Empress II plants, and Williams’ 50% ownership interest in the Empress V facility. The sale does not include Williams’ olefins business that extracts natural gas liquids and olefins from oil sands refining near Fort McMurray, AB. The liquids are then fractionated into various products at a Williams facility near Redwater, AB. In addition to the proceeds from the sale, the transaction will release approximately $30 million in U.S. funds of letters of credit and prepayments back to Williams by the end of the year. Williams expects to record an estimated pre-tax gain of $190 million in U.S. funds on the sale, which will be reported in discontinued operations in its third quarter financial results.

Williams said late Wednesday that it had completed the sale of three straddle plants in southern Alberta to Inter Pipeline Fund of Calgary for C$715 million (US$536 million). The sale includes Williams’ 100% ownership interest in the Cochrane and Empress II plants, and Williams’ 50% ownership interest in the Empress V facility.

Responding to an inter-office email in October 2000, J. Robert (Bo) Collins the current head of the New York Mercantile Exchange (Nymex), then employed by El Paso Corp., advised El Paso traders to report only verifiable price information to index developers rather than El Paso’s own “book bias,” according to documents filed in a Houston court case.

In hearings begun last week concerning the inter-provincial boundary dispute between Nova Scotia and Newfoundland and Labrador — which could ultimately decide how oil and gas reserves offshore should be divided — Nova Scotia’s legal team told the arbitration tribunal that the current line is an “equitable offshore boundary,” and — “all other considerations are subordinate.”

In hearings begun Monday concerning the inter-provincial boundary dispute between Nova Scotia and Newfoundland and Labrador — which could ultimately decide how oil and gas reserves offshore should be divided — Nova Scotia’s legal team told the arbitration tribunal that the current line is an “equitable offshore boundary,” and — “all other considerations are subordinate.”