International

With plenty of new gas-fired generation firing up this summer, Houston-based Purvin & Gertz, an international energy consulting firm, is expecting prices to firm up, particularly in the U.S. Gulf Coast region with the average bidweek delivered-to-pipeline prices predicted to average $4.80/MMBtu in August, dropping in September and then peaking at $6/MMBtu in December.

CMS Energy Corp. announced Norman J. Saari has been promoted to executive director of governmental and international affairs, with responsibility for managing the company’s Washington, DC governmental affairs office. Saari, 52, will succeed David G. Mengebier, who becomes senior vice president of governmental and public affairs effective Aug. 1, 2001, upon the retirement of John W. Clark. CMS said Saari had been executive director of state governmental affairs, heading up Consumers Energy’s Lansing, MI, governmental affairs office. In addition, Jacalyn H. Hadden, 45, has been promoted to director of state governmental affairs, succeeding Saari. Hadden had been state legislative representative in Lansing, reporting to Saari, since 1991.

Mexico’s Comision Reguladora de Energia (CRE) said several international corporations are planning liquefied natural gas (LNG) facilities in Mexico, and the CRE has formed a work group to identify necessary regulatory changes to grant permits and facilitate the development of the LNG plants. The country is expecting a 9% annual increase in gas demand, and LNG supply is expected to help meet some of that growth, CRE said in a statement. The probable sites for the LNG facilities include Altamira in Tamaulipas and Ensenada in Baja California. “The characteristics of each project are different and must be evaluated in order to identify the advantages that each of them pose to cover the growing demand of natural gas, demand fostered by a plan to develop electricity generating plants and projects of transport and distribution approved by the CRE.”

Tampa-based TECO Power Services and Panda Energy International announced on Thursday that they have begun initial construction and site preparation work on their 2,300 MW Gila River power station in Gila Bend, AZ. The companies will build the project under a joint venture agreement.

IPE Holdings, operator of the London-based International Petroleum Exchange (IPE), kicked off last week by announcing that it has agreed to a recommended all-share takeover offer by U.S.-based IntercontinentalExchange (ICE), an electronic trading platform for energy and metals commodities.

IPE Holdings, operator of the London-based International Petroleum Exchange (IPE), announced Monday that it has agreed to a recommended all-share takeover offer by U.S.-based IntercontinentalExchange (ICE), an electronic trading platform for energy and metals commodities.

Paul D. Jacob is taking over as president of Edison MissionMarketing & Trading (EMMT), a subsidiary of Edison MissionEnergy and Edison International. He succeeds Mark Maisto, whoresigned. Maisto presided over the transition following EdisonMission Energy’s acquisition of Boston-based Citizens Power lastyear. Maisto will join RockPort Partners, a Boston investment bankwhich focuses on energy and environmental technology.

International power producer AES Corp. announced a plan to scarfup the assets of Thermo Ecotek Corp., a subsidiary of ThermoElectron Corp. of Waltham, MA, for $195 million in cash, plusadditional closing adjustments that currently amount to another $15million. Thermo Ecotek builds and operates power plants and ownsgas storage assets. Its portfolio includes 516 MW of gas-fired,biomass-fired (agricultural and wood waste), and coal-fired powerplants in the United States, the Czech Republic, and Germany, aswell as a natural gas storage project in the United State and over1,250 MW of advanced development power projects in the UnitedStates. The transaction is likely close during the third quarter.

Panda Energy International announced that it will build a $400million natural gas fired electric power plant in West Point, MS.The 1,300 MW Panda Black Prairie Project is expected to be incommercial service in 2004. “This is an excellent location for apower plant,”stated Garry Hubbard, Panda’s senior vice president ofdevelopment. “There is immediate access to electric transmissionfacilities and we are close to water and natural gas. Thiscombination will play a key role in helping us meet the energyneeds of the state.”