Investment

Natural gas prices will stay sufficiently high in the future to support the increased import of liquefied natural gas (LNG) in the United States, and San Diego-based Sempra Energy intends to be a leader in the emerging LNG trade, according to Sempra CEO Steve Baum, speaking to a Merrill Lynch energy financial forum in New York City.

Natural gas prices will stay sufficiently high in the future to support the increased import of liquefied natural gas (LNG) in the United States, and San Diego-based Sempra Energy intends to be a leader in the emerging LNG trade, according to Sempra CEO Steve Baum, speaking to a Merrill Lynch energy financial forum in New York City.

Despite the current investment climate in the merchant power plant market, Energy Security Analysis Inc. (ESAI) projects that the Northeast should still see a significant amount of new generating capacity come on-line over the next two years. It’s the post-2003 period, however, where recent tightening in project financing will have the greatest supply impact, ESAI said in a recent memo to clients.

Kinder Morgan Inc. (KMI) executives spent nearly two hours Thursday assuaging investment analysts and investors about the strength of the company and its master limited partnership (MLP), Kinder Morgan Energy Partners LP (KMP) following two days of pummeling on the stock market that had sent share prices down by as much as 20%.

Kinder Morgan Inc. (KMI) executives spent nearly two hours Thursday assuaging investment analysts and investors about the strength of the company and its master limited partnership (MLP), Kinder Morgan Energy Partners LP (KMP) following two days of pummeling on the stock market that had sent share prices down by as much as 20%.

Swiss-based investment banker UBS, which was recently given the green light by the U.S. Bankruptcy Court in New York to acquire Enron Corp.’s wholesale energy and marketing unit, apparently will trim 300 of its 800 jobs in the unit once the transaction is completed, according to UBS CEO Peter Wuffli.

Lawyers for Samson Investment Co., a Tulsa-based natural gas-heavy energy company, filed a lawsuit against auditor Arthur Andersen LLP this week in what is predicted to be the first of many such lawsuits accusing the Big 5 accountant of complicity in Enron Corp.’s ultimate bankruptcy. Samson claims Andersen “recklessly disregarded evidence of questionable financial transactions between Enron and its insiders.” The lawsuit, seeking unspecified damages, requests class-action status on behalf of more than 100 unnamed companies.

Supply-hungry natural gas producers have voted with their wallets to name Nova Scotia a drilling hot spot for the next five years. With Marathon Canada Ltd. leading the pack, nine producers pledged to do C$527 million (US$350 million) in exploration work as the price for obtaining access to 15,800 square kilometers of sub-sea gas prospects from the Canada-Nova Scotia Offshore Petroleum Board.

Supply-hungry natural gas producers have voted with their wallets to name Nova Scotia a drilling hot spot for the next five years. With Marathon Canada Ltd. leading the pack, nine producers pledged to do C$527 million (US$350 million) in exploration work as the price for obtaining access to 15,800 square kilometers of sub-sea gas prospects from the Canada-Nova Scotia Offshore Petroleum Board.