Launches

Looking to evaluate interest in the expansion of daily and seasonal storage capacity from its natural gas storage complex, Texas Gas Transmission LLC on Monday announced a non-binding open season for firm storage service (FSS) and no-notice service (NNS) at its Western Kentucky storage facilities.

Exxon Mobil Corp. affiliate Golden Pass LNG Terminal LP has started the permitting process at FERC on a proposed $600 million LNG import terminal that would be located near Sabine Pass, TX, about 10 miles south of Port Arthur and not that far from another LNG import terminal being proposed by Cheniere Energy.

Kinder Morgan Inc. (KMI) reported that it has signed a 10-year firm natural gas transportation contract with an undisclosed shipper that will result in a 125,000 Dth/d expansion of its TransColorado pipeline system, but a much larger 600,000 Dth/d expansion to accommodate new production from the Piceance, Paradox, Uinta and other basins in Colorado, Utah and Wyoming has been delayed (see NGI, March 17).

SG Resources Louisiana LLC is conducting an open season through Oct. 10 for firm and secondary firm storage services from a proposed gas storage field it plans to develop in Evangeline Parish, LA. The Pine Prairie Energy Center would be located downstream of the Eunice, Kinder and Rayne pipeline constraint points on the Gulf Coast grid, the company said.

Kinder Morgan Inc. (KMI) reported Thursday that it has signed a 10-year firm natural gas transportation contract with an undisclosed shipper that will result in a 125,000 Dth/d expansion of its TransColorado pipeline system, but a much larger 600,000 Dth/d expansion to accommodate new production from the Piceance, Paradox, Uinta and other basins in Colorado, Utah and Wyoming has been delayed (see Daily GPI, March 17).

SG Resources Louisiana LLC is conducting an open season through Oct. 10 for firm and secondary firm storage services from a proposed gas storage field it plans to develop in Evangeline Parish, LA. The Pine Prairie Energy Center would be located downstream of the Eunice, Kinder and Rayne pipeline constraint points on the Gulf Coast grid, the company said.

Dynegy Inc. on Tuesday launched a major junk bond refinancing project, as well as a long-awaited stock restructuring to pay off a credit line with ChevronTexaco Inc., its largest shareholder. If the transactions are completed as envisioned, Dynegy’s debt maturities would be “significantly” reduced over the next few years, including a portion of its recently restructured $1.66 billion credit facility and the secured financing of its Midwest generation assets.

Dynegy Inc. last week began climbing out of its deep debt-filled hole, launching a major junk bond refinancing project as well as a stock restructuring deal to pay off a credit line with ChevronTexaco Inc., its largest shareholder. If the transactions are completed as envisioned, Dynegy’s debt maturities would be “significantly” reduced over the next few years, including a portion of its recently restructured $1.66 billion credit facility and the secured financing of its Midwest generation assets.

Aquila officials have dismissed allegations in an anonymous letter from a group of the company’s own employees that charges that company executives falsified earnings and manipulated corporate accounting in an effort to boost executive compensation. The letter has been forwarded to a special audit committee for an investigation, and the audit committee has notified the Securities and Exchange Commission of the matter.