After a pause for consideration by one potential taker,TransCanada PipeLines, Canada’s second-biggest pool of natural gassupplies is again looking for new owners. Pan-Alberta Gas’president, Ross Weaver, confirmed, “we are still for sale.”
Articles from Natural
Hearings Begin on New Nova By-pass
The next challenge to the troubled Canadian natural gas pipelineestablishment opens May 25, when the National Energy Board hasscheduled the start for hearings on AEC Suffield Gas Pipeline.
EEX Sells Texas, N. Louisiana Properties
EEX Corp. agreed to sell nearly all of its properties in EastTexas and North Louisiana, containing 250 Bcfe of proved naturalgas reserves, to Cross Timbers Oil Co. for $265 million. Theeffective date of the sale is Jan. 1, 1998 with closing expected inthe second quarter.
March Futures Limp Toward The Finis
Expiration week is supposed to be about extreme volatility atthe New York Mercantile Exchange, but the March natural gascontract exhibited anything but that on Monday. The spot monthinched 1.9 cents lower to $2.179 yesterday, amid a session bound bya tight 4-cent trading range
PNGTS Extension Gets An NEB Nod
The upstream Canadian portion of the Portland Natural GasTransmission Project – the PNGTS Extension, which will link theU.S. pipeline with TransCanada PipeLines via an extension of theTrans Qu‚bec & Maritimes — received a favorable environmentalreview from Canada’s National Energy Board. The NEB concluded the132-mile extension is “not likely to cause significant adverseenvironmental effects, provided that the mitigative measuresidentified during the public hearing are implemented and enforced.”The NEB submitted its Comprehensive Study Report on the project tothe federal Minister of Environment and to the CanadianEnvironmental Assessment Agency last week
Rebecca McDonald, president and CEO of Amoco Energy Development,was named the 1998-1999 chairman of the Natural Gas SupplyAssociation last week. J. Larry Nichols, president of Devon EnergyCorp., was selected as vice chairman; Richard J. Sharples, vicepresident of marketing for Anadarko Petroleum, was madesecretary/treasurer.