Organization

As part of the Obama administration’s plan to build a clean energy economy and reduce dependence on foreign oil, the Department of Energy (DOE) will launch a $400 million organization to foster research and development of transformational energy-related technologies, President Obama said during a speech Tuesday at the National Academy of Sciences (NAS) in Washington, DC. Also attending the NAS meeting were Energy Secretary Steven Chu and Obama science adviser John Holdren.

Natural gas markets worldwide are showing increasing convergence, particularly among the Organization of Economic Cooperation & Development (OECD) countries, and that trend, spurred by increased liquefied natural gas (LNG) traffic, is expected to continue, according to Raymond James’ Energy Stat of the Week.

Fresh from a shakeup at the top of its debt-plagued organization, San Jose, CA-based Calpine Corp. Thursday said it has asked the Delaware Chancery Court for 90 days to restore only part of the $313 million in natural gas asset sales proceeds that the court last month ruled had been misappropriated by the troubled power plant developer/operator. The court’s Vice Chancellor Leo Strine had ordered that the funds be restored to a special account earmarked for senior bondholders. Calpine said it is continuing to evaluate its options, including the possibility of filing for bankruptcy.

A consumer advocacy group and environmental organization last Monday urged FERC to deny a request by Dominion Cove Point LNG to exempt a 800 MMcf/d sendout capacity expansion of the company’s liquefied natural gas (LNG) terminal in eastern Maryland from the agency’s open-season and cost-of-service regulations.

A consumer advocacy group and environmental organization on Monday urged FERC to deny a request by Dominion Cove Point LNG to exempt a 800 MMcf/d sendout capacity expansion of the company’s liquefied natural gas (LNG) terminal in eastern Maryland from the agency’s open-season and cost-of-service regulations.

The possibility that LNG exporting countries might someday attempt to operate a cartel similar to the Organization of Petroleum Exporting Countries (OPEC) in an attempt to control world gas prices and production appears to be a real threat to officials at the American Public Gas Association (APGA).

Backers of a proposed regional transmission organization (RTO) in the Southeast known as SeTrans last week said that they are suspending efforts related to forming the RTO, saying that it is “highly unlikely that consensus support and acceptance for the SeTrans RTO will be forthcoming from all applicable state and federal agencies.”

The board of directors of ISO New England Inc. last week decided to move ahead with the creation of a regional transmission organization (RTO) for New England and plans to file a joint proposal with New England transmission owners at FERC by the end of October.

Moody’s Investors Service downgraded the ratings of Port Huron, MI-based gas utility company SEMCO Energy Inc. to Ba2 from Baa3 and said it was continuing a review for possible further downgrade because of the company’s “very high leverage, weak capitalization, low profitability and cash flow relative to its debt and refinancing risk.” About $534 million in debt was affected.