Guardian Pipeline filed with the FERC for a certificate toconstruct, own and operate its proposed 149-mile pipeline. Thepartnership is made up of three midwestern energy companies-CMSEnergy of Dearborn, MI; WICOR of Milwaukee, WI; and Viking Gas, awholly owned subsidiary of Northern States Power Co. of St. Paul,MN.
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Reliant Energy Retail Group and Luby’s Restaurants LP of SanAntonio, TX, made a multi-year energy services agreement fornon-regulated Reliant Energy Solutions Inc. to develop andimplement a comprehensive energy management services program forall Luby’s locations in the United States.
Chilly Northeast Leads Recovery From Weekend Declines
The cash market made a strong rebound Monday from the weekend’sprice plunge as nearly every point rose by 15 cents or more. Inmost cases the gains did not recover all of the price territorythat had been lost Friday. However, the Northeast—one of the fewregions seeing any weather close to resemblingwinter —didmanage to make up for just about all of Friday’s citygate declines.
Midcoast Building Pipe to Exxon Plant
Mid Louisiana Gas Transmission Co. (MLGT), a wholly ownedsubsidiary of Midcoast Energy Resources Inc., made a gas processingagreement with Exxon Company USA and plans to construct a newpipeline to supply up to 80 MMcf/d of gas to the Exxon Baton RougeGas Plant. MLGT will construct an eight-mile 14-inch pipeline forabout $3.5 million. The pipeline will connect the inlet of theBaton Rouge plant with the Florida Gas Transmission Co. Chacahoulalateral. Exxon has agreed to make available 80 MMcf/d of gas plantcapacity to process gas supplied by MLGT and Exxon through MLGT’snew pipeline. The new system will also interconnect with anexisting MLGT pipeline at the outlet of the plant. MLGT plans tobegin initial deliveries before year-end.
Apache Buying Shell Canada Assets
Apache Corp. made a definitive agreement to acquire producingproperties and other assets in Alberta, British Columbia andSaskatchewan, Canada with proved reserves of 87.5 MMBoe from ShellCanada Limited for C$770 million (US$524 million at currentexchange rates).
DOE Chief: Power Restructuring Needs Gas Industry’s Help
Department of Energy (DOE) Secretary Bill Richardson made aspirited request to a host of gas industry executives last week,asking for their help to pass a federal electric restructuring billbefore the end of this year. Richardson, addressing attendees ofthe Natural Gas Roundtable in Washington D.C., said the gasindustry stands to gain handsomely if electric restructuring getspassed as soon as possible.
DOE Chief: Power Restructuring Needs Gas Industry’s Help
Department of Energy (DOE) Secretary Bill Richardson made aspirited request to a host of gas industry executives yesterday,asking for their help to pass a federal electric restructuring billbefore the end of this year. Richardson, addressing attendees ofthe Natural Gas Roundtable in Washington D.C., said the gasindustry stands to gain handsomely if electric restructuring getspassed as soon as possible.
Kinder Accepts $1 Salary in ‘Back to Basics’ Plan
Among the more notable sacrifices being made to get KN Energy “out of the ditch” and back down the highway are the decisions by Richard Kinder and William Morgan to work for annual salaries of $1 with no bonuses. They will become the two largest shareholders of the new company once the merger of Kinder Morgan and KN is completed. They also will be the top two executives.
Kinder Accepts $1 Salary in ‘Back to Basics’ Plan
Among the more notable sacrifices being made to get KN Energy”out of the ditch” and back down the highway are the decisions byRichard Kinder and William Morgan to work for annual salaries of $1with no bonuses. They will become the two largest shareholders ofthe new company once the merger of Kinder Morgan and KN Energy iscompleted. They also will be the top two executives.
Enbridge Developing New Brunswick Distribution
Enbridge Gas New Brunswick, Canada, won a 20-year renewablefranchise to develop a gas distribution system for the province ofNew Brunswick. The award was made by the provincial governmentfollowing evaluation of competitive bids submitted earlier thisyear. Enbridge Gas New Brunswick is a joint venture betweenEnbridge Inc., with a 63% interest, and 28 local New Brunswickinvestors.