After putting its 50% interest of the Express System crude oil pipeline on the market last December as part of CEO Doug Baldwin’s $3 billion divestiture program, TransCanada PipeLines Ltd. (TCPL) finally found a buyer in Alberta Energy Company Ltd. (AEC) for a net total of $60 million. Included in the sale is TransCanada’s 50% interest in Marquest marketing entities which act as shippers on the system.
Market
Articles from Market
Most Cash Points Gain Solid Ground, San Juan Tumbles
Most of what was lost in spot market pricing on Monday wasrather quietly regained yesterday, as storage buying started tokick back in and the weather situation in the Gulf of Mexico onceagain looked ominous, with the possibility of another tropicalstorm or two developing.
September 20, 2000
EEA Reiterates Storage Woes
Energy and Environmental Analysis, Inc. (EEA) released a reportyesterday warning that the North American gas market is on coursefor entering the winter heating season with dangerously low storagelevels.
September 15, 2000
Electricity Dereg, Rate Cuts Approved in NH
Deregulation of New Hampshire’s electricity market moved a giantstep closer to becoming a reality on Tuesday. The New HampshirePublic Utilities Commission approved the state’s settlementagreement with Public Service Company of New Hampshire (PSNH),allowing the process of electric restructuring to continue on itstrack.
September 7, 2000
Transportation Notes
Citing significant market area demand, Florida Gas Transmissionissued an Overage Alert Day notice, effective Tuesday until furthernotice, with a daily imbalance tolerance of 15%.
September 6, 2000
Holiday Prices Mostly Softer But With Some Increases
The cash market went quietly into the Labor Day weekend Friday,registering prices that ranged from flat to down about a dime inmost cases, but sprinkled with scattered upticks (concentrated inthe West) and a Southern California border crash to break up thepattern.
September 5, 2000
Transportation Notes
Due to significant demand in its market area, Florida GasTransmission issued an Overage Alert Day notice, effective Thursdayuntil further notice, with 8% tolerance for negative dailyimbalances.
August 25, 2000
Enogex Appealing Bid Method
Oklahoma Natural Gas Co. has been cleared by the OklahomaCorporation Commission of any wrongdoing regarding how it evaluatestransmission service bids for ONG customers, but the company thatfiled the original complaint — Enogex — is appealing thebidding process to the Oklahoma Supreme Court.
August 23, 2000
Union Gas Holds Storage Open Season
Union Gas Ltd. has declared an open season for peak storage at its Dawn market hub, with injections beginning Aug. 24, and winter 2000-2001withdrawal on an interruptible basis. Union is offering a storage service option that includes unlimited free cycling and a service option for two-or-three year storage.
August 21, 2000
Union Gas Holds Storage Open Season
Union Gas Ltd. has declared an open season for peak storage atits Dawn market hub, with injections beginning Aug. 24, and winter2000-2001withdrawal on an interruptible basis.Union is offering astorage service option that includes unlimited free cycling and aservice option for two-or-three year storage.
August 18, 2000
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