Midstream

Unocal Midstream & Trade (UMT) is holding a non-binding open season through Oct. 27 for 6 Bcf of natural gas storage capacity at its proposed Sabine Pass Gas Storage facility. Construction on the new facility, which will be located within Unocal Corp.’s terminal operations near Beaumont, TX, is scheduled to start in 2006, with operations underway by late 2008.

Following up on a request to FERC in June, Unocal Midstream & Trade (UMT) is assessing the feasibility of developing the first-ever bedded salt natural gas storage facility in Morgan County, CO. Unocal Windy Hill Gas Storage LLC asked the Commission for permission to conduct subsurface testing four months ago (see Daily GPI, June 30).

Unocal Midstream & Trade (UMT) is holding a non-binding open season through Oct. 27 for 6 Bcf of natural gas storage capacity at its proposed Sabine Pass Gas Storage facility. Construction on the new facility, which will be located within Unocal Corp.’s terminal operations near Beaumont, TX, is scheduled to start in 2006, with operations underway by late 2008.

In addition to the sale of some of Transcontinental Gas Pipe Line’s gas transportation assets in Texas to Crosstex earlier this week (see related story), Williams also has agreed to sell three straddle plants in Western Canada to Inter Pipeline Fund of Calgary for C$715 million (US$540 million).

Crosstex Energy LP, a Dallas-based midstream natural gas company, announced late Wednesday that it had executed a definitive agreement to acquire from Williams certain onshore pipeline assets south of its Transco Compressor Station 30 in Wharton County, TX, for $27.4 million.

Williams said Thursday that it paid $117.5 million to Magellan Midstream (formerly Williams Energy Partners) to be released from historical indemnities related to the Magellan pipeline assets that Williams previously owned. The indemnities primarily relate to environmental issues for periods during which Williams was the owner of the Williams Pipe Line system.

Williams said Thursday that it paid $117.5 million to Magellan Midstream (formerly Williams Energy Partners) to be released from historical indemnities related to the Magellan pipeline assets that Williams previously owned. The indemnities primarily relate to environmental issues for periods during which Williams was the owner of the Williams Pipe Line system.

A judge has overturned a $3.2 million judgment against Dynegy Midstream Services LP and affiliate Versado Gas Processors LLC in a case brought by Apache Corp., ruling that the jury had reached its verdict without sufficient evidence against the companies.

TXU shares soared 13% Monday after it announced the sale of its Australian energy assets and its Texas midstream gas business for $4.2 billion. The two deals are among several transactions proposed in a major corporate restructuring orchestrated by new CEO John Wilder to put TXU back on solid financial ground.