Letter

Sen. Maria Cantwell (D-WA), in a recent letter to FERC Chief Administrative Law Judge Curtis L. Wagner, argued that any refund policy adopted by the Commission must not disadvantage utilities in the Pacific Northwest because of the contractual mechanisms that they have used to acquire power to serve their customers. She also asserted that Northwest entities that have been hurt by California’s energy crisis should be eligible for refunds.

Houston-based El Paso Corp. signed a letter of intent last week to purchase liquefied natural gas from a new Australian LNG production facility to be built by Phillips Petroleum Co., which would provide up to 4.8 million tons of LNG beginning in 2005 for North American markets. El Paso and Phillips expect to complete a definitive agreement on the deal by mid-year.

“Hope” was the operative four-letter word in California last week if you had anything to do with the energy industry or government as Friday saw the previous day’s specter of rolling blackouts from razor-thin electricity reserves ease.

Florida Gas Transmission allowed an Overage Alert Day notice (seeDaily GPI, Nov. 27) to expire over theThanksgiving holiday weekend.

Nymex Chairman Daniel Rappaport last week sent a letter to Rep.Larry Combest, Chairman of the House Committee on Agriculture,raising concern over a subsection of H.R. 4541, the “CommodityFutures Modernization Act of 2000,” which would exempt electronicenergy derivatives trading from regulatory oversight.

Northern Border Partners have entered into a letter of understanding with Enron North America (ENA) to purchase gas gathering facilities in the Powder River and Wind River Basins in Wyoming for almost $200 million. Included in the acquisition is Enron Midstream Services, which has ownership interests in Bighorn Gas Gathering, and ENA subsidiaries that hold interests in Fort Union Gas Gathering and Lost Creek Gathering. Upon completion of the transaction, Northern Border Partners will own and operate the assets, and will provide gathering and transportation services. ENA will still supply gas purchase and sales, finance, and risk management along with producer outsourcing services.

Northern Border Partners have entered into a letter ofunderstanding with Enron North America (ENA) to purchase gasgathering facilities in the Powder River and Wind River Basins inWyoming for almost $200 million.

In a non-binding letter of intent signed last Thursday,Houston-based Vastar Resources agreed to sell its 40% stake inSouthern Company Energy Marketing to its partner, Atlanta-basedSouthern Energy for $40 million. Southern Energy is a subsidiary ofSouthern Co.

In a non-binding letter of intent signed last Thursday, Houston-based Vastar Resources agreed to sell its 40% stake in Southern Company Energy Marketing to its partner, Atlanta-based Southern Energy, for $40 million. Southern Energy is a subsidiary of Southern Co.