European financial heavyweight Fortis muscled into North America’s energy marketing business on Tuesday with the estimated $415 million purchase of Duke Energy’s commercial marketing and trading business. Fortis, which ranks among the 20 largest financial institutions in Europe, will pay Duke $210 million for the business and agreed to pay an amount equal to the value of Duke’s portfolio of contracts and net working capital associated with the business when the transaction closes.
Muscled
Articles from Muscled
Anadarko Newest Player to Enter North American LNG Market
Anadarko Petroleum Corp. muscled its way into the liquefied natural gas (LNG) market Thursday with the purchase of Access Northeast Energy Inc. (ANEI), a private Canadian company whose sole project is a proposed LNG receiving terminal on the coast of Nova Scotia.
August 16, 2004
Anadarko Newest Player to Enter North American LNG Market
Anadarko Petroleum Corp. muscled its way into the liquefied natural gas (LNG) market Thursday with the purchase of Access Northeast Energy Inc. (ANEI), a private Canadian company whose sole project is a proposed LNG receiving terminal on the coast of Nova Scotia. Just days ago, ANEI secured the critically needed environmental approval for a planned 1 Bcf/d facility, and all of the remaining approvals are expected by year’s end.
August 13, 2004
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