Mega

President Bush on Wednesday signed into law legislation that authorizes the construction of a mega-natural gas pipeline from Alaska’s North Slope to the lower 48 states, streamlines permitting and expedites court challenges by environmental opponents (see Daily GPI, Oct. 14).

The Senate on Monday approved a proposal that would authorize the construction of a mega-natural gas pipeline from Alaska’s North Slope to the lower 48 states, and a sweeping corporate tax cut bill that contains a number of energy-related tax credits. Both bills were passed by the House and are expected to be signed by President Bush.

PNM Resources intiated the latest mega utility merger last week with the planned $1 billion purchase, including debt assumption, of neighboring utility holding company TNP Enterprises Inc. The purchase will double PNM’s customer base in the Southwest. PNM also raised its earnings guidance for the year, but it failed to meet Wall Street estimate of second quarter earnings.

Without mega-marketers eager to make a quick buck, gas storage developers have faced more of a challenge in recent months. But this winter’s strong Northeast demand, record high gas prices in New England, growing supply shortage and soaring volatility make a stronger case than ever for high-deliverability storage, according to two project planners.

Without mega-marketers eager to make a quick buck, gas storage developers have faced more of a challenge in recent months. But this winter’s strong Northeast demand, record high gas prices in New England, growing supply shortage and soaring volatility make a stronger case than ever for high-deliverability storage, according to two project planners.

Enterprise Products LP and El Paso Corp.’s GulfTerra Energy Partners LP agreed to a merger on Monday, which will form the second largest publicly traded energy partnership in the United States. The new partnership will be worth about $13 billion, with the jointly owned affiliates of Enterprise Products Co. and El Paso each owning a 50% stake.

Enterprise Products LP and El Paso Corp.’s GulfTerra Energy Partners LP agreed to a merger on Monday, which will form the second largest publicly traded energy partnership in the United States. The new partnership will be worth about $13 billion, with the jointly owned affiliates of Enterprise Products Co. and El Paso each owning a 50% stake.

An oil and gas mega-giant so large that it only needs initials to identify it — BP — also has become a leader in energy merchant services, after moving into the top spot of natural gas marketers in NGI’s first quarter survey. As expected, producers like BP, ConocoPhillips and Shell’s trading arm, Coral Energy, are beginning to command the energy merchant stage, as the former leaders, led by Mirant, AEP, Duke Energy and Dynegy, all slowly take their bow and exit stage left.

An oil and gas mega-giant so large that it only needs initials to identify it — BP — also has become a leader in energy merchant services, after moving into the top spot of natural gas marketers in NGI’s first quarter survey. As expected, producers like BP, ConocoPhillips and Shell’s trading arm, Coral Energy, are beginning to command the energy merchant stage, as the former leaders, led by Mirant, AEP, Duke Energy and Dynegy, all slowly take their bow and exit stage left.