Mount

Industrial gas customers and Illinois utilities have jumped to the defense of Natural Gas Pipeline Company of America (NGPL) in the wake of a FERC order, which they argue appears to restrict the ability of the Kinder Morgan pipeline to keep potentially dangerous high-Btu content natural gas from entering its system in production and market areas.

Industrial gas customers and Illinois utilities have jumped to the defense of Natural Gas Pipeline Company of America (NGPL) in the wake of a FERC order, which they argue appears to have restricted the ability of the Kinder Morgan pipeline to keep potentially dangerous high-Btu content natural gas from entering its system in production and market areas.

As litigation over gas price manipulation allegations continues to mount following several settlements between gas marketing companies and the Commodity Futures Trading Commission, EnCana Corp. said late last month that it has temporarily withdrawn a request to have one case transferred to FERC until a decision is made on whether to combine the case with other class action lawsuits into one federal multi district litigation proceeding.

As litigation over gas price manipulation allegations continues to mount following several settlements between gas marketing companies and the Commodity Futures Trading Commission (see Daily GPI, Aug. 1), EnCana Corp. said Thursday that it has temporarily withdrawn a request to have one case transferred to FERC until a decision is made on whether to combine the case with other class action lawsuits into one federal multi district litigation proceeding.

The largest individual shareholder of El Paso Corp. gave notice Tuesday that he will seek to unseat the financially troubled company’s board of directors at the upcoming shareholder meeting.

In what was surely expected to be another long weekend for Williams Cos. Inc., FERC said Friday it will send staffers to the company’s Tulsa headquarters on Wednesday to examine its California natural gas trading data. Meanwhile, after the market closed Friday, Moody’s Investor Services downgraded Williams to one notch above “junk” status, noting that the company is failing to generate enough cash despite its asset sales, and faces more business risks ahead.

Claims against the bankrupt Enron Corp. from its trading partners continued to mount last week, as new companies went public with their estimated exposure levels. So far energy companies have admitted to net exposure of up to $983 million.

Sen. Frank Murkowski (R-AK), a leading proponent of oil and gas drilling in the Arctic National Wildlife Refuge (ANWR), threatened Thursday to mount a filibuster to the economic-stimulus bill or other legislation, in order to force a vote on the ANWR issue before Congress adjourns for the year.

While power outages were still viewed as an inevitability thissummer in California, a comprehensive legislative, regulatory andcommercial solution to mounting energy debts was less certain lastweek as reports surfaced that creditors might force bankruptcy onthe state’s two ailing utilities.