Maritimes & Northeast Pipeline (M&NP) said its Point Tupper Lateral is now ready to deliver gas to customers in Point Tupper. The lateral was placed in service June 30. Following construction of a pressure reducing station, M&NP was granted final Leave-to-Open by the National Energy Board (NEB) on June 27. Final commissioning of the facilities took place over the past three weeks. “It is yet another milestone towards our target of establishing a 2 Bcf/d system by 2010 serving markets in the Maritimes, Eastern Canada, and New England,” said Phillip Knoll, president of M&NP. The Point Tupper Lateral is 37 miles long and extends from the M&NP mainline to Point Tupper, NS. M&NP closed the purchase of the lateral from Sable Offshore Energy Inc. on June 22. The lateral will serve the Sable fractionation plant, StoraEnso and CGC, Inc. in Point Tupper.
Northeast
Articles from Northeast
AEC’s Ladyfern Production Reaches 150 MMf/d
The addition of the prolific Ladyfern discovery in northeast British Columbia, which began flowing one month ago, has sent Alberta Energy Co. Ltd.’s natural gas production soaring, producing more than 150 MMcf/d, the company said Friday. AEC’s current gas production with Ladyfern now equals 1.5 Bcf/d, the highest for any Canadian producer, and 40% higher than the company’s average for all of 2000.
AEC’s Ladyfern Boosts Company’s Production Past 1.5 Bcf/d
The addition of the prolific Ladyfern discovery in northeast British Columbia, which began flowing one month ago, has sent Alberta Energy Co. Ltd.’s natural gas production soaring, producing more than 150 MMcf/d, the company said Friday. AEC’s current gas production with Ladyfern now equals 1.5 Bcf/d, the highest for any Canadian producer, and 40% higher than the company’s average for all of 2000.
Industry Briefs
Maritimes & Northeast Pipeline LLC signed an agreement with Newington Energy, an affiliate of Consolidated Edison, to provide natural gas transportation service to a 525 MW power plant currently under construction in Newington, NH. Newington Energy broke ground on the natural gas-fired facility in September. Maritimes plans to construct and operate gas transmission facilities, including interconnecting piping and metering, from the existing lateral pipeline on Newington Energy’s property to the plant. When the plant is completed in 2002, it will generate enough power to supply electricity to more than 700,000 homes in New England.
Industry Briefs
The Connecticut Department of Public Utility Control (DPUC)approved the merger of Northeast Utilities, the state’s largestelectric utility, and Yankee Energy System, the parent of YankeeGas Services, the state’s largest gas distributor. Yankeeshareholders approved the merger agreement, in which YES willbecome a subsidiary of NU, on Oct. 12. According to the deal, NUwill pay $478 million for all of YES common equity. The mergerstill requires the approval of the Securities and ExchangeCommission, which is expected early next year.
NU Earnings Fall Short After Special Charges
Consolidated Edison’s reservations about a merger with Northeast Utilities (NU) seem a bit clearer now following NU’s latest financial report of a 29% drop in first quarter earnings. The New England combination utility company’s results came in well short of Wall Street expectations. After non-recurring charges, NU earnings were $53.2 million, or $0.36 per share, compared with $74.6 million, or $0.55 per share, for the same period in 2000.
NU Earnings Fall Short After Special Charges
Consolidated Edison’s reservations about a merger with Northeast Utilities (NU) seem a bit clearer now following NU’s latest financial report of a 29% drop in first quarter earnings. The New England combination utility company’s results came in well short of Wall Street expectations. After non-recurring charges, NU earnings were $53.2 million, or $0.36 per share, compared with $74.6 million, or $0.55 per share, for the same period in 2000.
Newport Generation Plans 1,300 MW Plant
Newport Generation Inc. last Monday said it plans to build a 1,300 MW power plant in Rathdrum, ID, 32 miles northeast of Spokane, WA.
Ladyfern Play Has AEC Re-estimating 2001 Gas Sales
Due to its sizeable Ladyfern natural gas discovery in northeast British Columbia, Alberta Energy Company Ltd. (AEC) said on Tuesday that it is increasing its 2001 gas sales forecast by an average of 75 MMcf/d for the entire year. AEC expects Ladyfern to begin flowing to market within weeks. Daily production from Ladyfern is expected to average from 100 to 150 MMcf/d during the last half of 2001.
Newport Generation Plans 1,300 MW Plant
Newport Generation Inc. yesterday said it plans to build a 1,300 MW power plant in Rathdrum, ID, 32 miles northeast of Spokane, Wash.
