Limited

Kinder Morgan Inc. (KMI) and its master limited partnership Kinder Morgan Energy Partners LP (KMP) both expect to beat third-quarter consensus earnings estimates, management said Tuesday.

Given its view that there are limited sites for land-based liquefied natural gas (LNG) import terminals in North America, El Paso Corp. will be headed to FERC next month with an application for the first U.S. LNG “land bridge” regasification facility located offshore Louisiana. The company also hopes to be filing applications for similar facilities located offshore New York City, New England, the Mid Atlantic region and in Atlantic Canada.

Union Gas Limited is taking bids through noon EDT Thursday (Sept. 5) for up to 3 Bcf of short-term peak storage service at its Dawn Hub in Ontario over the 2002/2003 winter season. The service is available for the Sept. 6, 2002-March 31, 2003 period. Delivery and receipt points will be at Dawn. See the Union bulletin board for details, or call Mark Bering at (519) 358-4010 for more information.

The master limited partnership of Williams Energy Partners LP (WEG), has signed an agreement to acquire a refined petroleum products pipeline system from Tesoro Petroleum Corp. for $110 million. The acquisition is expected to close during mid-October, pending approval from appropriate regulatory agencies.

Citing necessary maintenance on the #3 and #4 compressor units at the Custer OK Station, Reliant limited capacity on Line 2 Monday to 110,000 Dth/day. The work is expected to be completed by the start of Friday’s gas day.

TransCanada PipeLines Limited posted C$202 million or C$0.42 per share net income from continuing operations for the second quarter 2002, compared to second quarter 2001 net earnings of C$175 million or C$0.37 per share. The company noted that second quarter 2002 results include $25 million of earnings related to the recent Fair Return Application decision by the National Energy Board (NEB) for the period Jan. 1, 2001 to June 30, 2002.

TransCanada PipeLines Limited posted C$202 million or C$0.42 per share net income from continuing operations for the second quarter 2002, compared to second quarter 2001 net earnings of C$175 million or C$0.37 per share. The company noted that second quarter 2002 results include $25 million of earnings related to the recent Fair Return Application decision by the National Energy Board (NEB) for the period Jan. 1, 2001 to June 30, 2002.

TransCanada PipeLines Limited posted C$202 million or C$0.42 per share net income from continuing operations for the second quarter 2002, compared to second quarter 2001 net earnings of C$175 million or C$0.37 per share. The company noted that second quarter 2002 results include $25 million of earnings related to the recent Fair Return Application decision by the National Energy Board (NEB) for the period Jan. 1, 2001 to June 30, 2002.

The Securities and Exchange Commission’s (SEC) ability to closely regulate the securities and financial markets has become “increasingly strained” due to its restricted funding, limited staff and high turnover of senior staff, according to a report released by General Accounting Office (GAO) last week.