Investments

NGS Investments LLC on Friday launched an open season to provide natural gas storage services by the Leaf River Energy Center, a salt cavern facility to be constructed in Smith County, MS, that would eventually provide 32 Bcf of capacity. The open season will run from Thursday (Oct. 20) to Dec. 8.

With senior management and the board promising more robust returns from other energy investments, ScottishPower shareholders voted last Friday on the proposed $9.4 billion sale of its PacifiCorp utility operations in the United States. Results of the vote will be announced Tuesday, following annual and special shareholder meetings held in Glasgow.

Kansas regulators on Monday approved a 2.4% rate increase settlement, or $2.7 million, for Aquila Inc. to recover the costs of investments that it made in the company’s natural gas transmission and distribution operations that service 104,000 customers in the state.

Cash-heavy energy producers have to begin making some capital investments soon if they expect liquefied natural gas (LNG) and Arctic gas to make up the projected natural gas shortfall in North America, said a senior analyst at BP North America Gas & Power last week.

Cash-heavy energy producers have to begin making some capital investments soon if they expect liquefied natural gas (LNG) and Arctic gas to make up the projected natural gas shortfall in North America, said a senior analyst at BP North America Gas & Power this week.

Sempra Energy and Calpine Corp. remain bullish on investments in Mexico’s energy industry despite concerns about whether the next national political administration in Mexico City will be as friendly toward private-sector investment in the country. Skeptics cite Mexico’s historic nationalization of the oil/gas exploration and development industry in the late 1930s.

After the market closed Tuesday, Black Hills Corp. warned investors to expect sharply lower than expected net income from continuing operations in the fourth quarter. Fourth quarter income is expected to be in the range of 25-30 cents/share, compared to 54 cents/share in fourth quarter 2002 and analysts’ expectations of 55 cents/share.

New energy legislation introduced in British Columbia is expected to save money and improve services for the province’s industry and customers, Energy and Mines Minister Richard Neufeld said Thursday.

Argentina’s scrambled economy that has drawn front-page attention from some major U.S. financial news media so far does not worry San Diego-based Sempra Energy, which has significant interest in two natural gas utilities.