Ownership

As another indication that it is still not ‘politically correct’ to be associated with an out-of-state energy giant in California, one of the state’s three Republican candidates for governor, William Simon Jr., drew political news coverage this week for his disclosure that he and his family own about $16,750 of stock in El Paso Natural Gas Co.

Bidder Communications Inc. (BIDC) said on Thursday that as part of its diversification strategy the company has acquired 100% ownership of Southern States Gas Gathering LLC of Louisiana. The acquisition gives BIDC entry into the southern energy resource market.

With majority ownership in Denver-based Totem Gas Storage Co. LLC in hand following its purchase of ThermoEcotek Corp., AES Inc. plans to convert the gas field, a depleted “J” sand reservoir near Denver, into a 9 Bcf working gas storage facility. Totem would offer customers year-round storage service with delivery capabilities of more than 200 MMcf/d beginning in November 2002.

Duke Energy North America announced the sale of its ownership interest in Duke Energy McClain to NRG Energy. Duke Energy McClain is the holder of a 77% interest in the McClain energy generating facility, a 500 MW merchant power facility under construction in Oklahoma. Terms of the transaction were not disclosed. The McClain facility is a combined-cycle, natural gas-fired merchant generation facility located near Newcastle, OK. Construction of the facility began in March 2000, with commercial operations set to begin this summer. Duke Energy McClain closed on the sale of a 23% interest in the facility to the Oklahoma Municipal Power Authority in March 2001. The sale of the McClain facility is expected to close in the third quarter of 2001.

It’s liquidity for energy markets, not ownership of transmission assets, that California should be focusing its efforts on as the state grapples with its ongoing energy crisis, according to David Sokol, chairman and chief executive officer of MidAmerican Energy Holdings Co.

It’s liquidity for energy markets, not ownership of transmission assets, that California should be focusing its efforts on as the state grapples with its ongoing energy crisis, according to David Sokol, chairman and chief executive officer of MidAmerican Energy Holdings Co.

After several ownership changes and years of consideration, Market Hub Partners (MHP) is finally preparing its proposed salt cavern gas storage project in Copiah, MS, for service. The Duke Energy subsidiary launched a 30-day open season last week to test market interest in the project, which initially would provide 3 Bcf of working capacity and about 300 MMcf/d of deliverability on Texas Eastern and several other Gulf Coast pipes starting in spring 2004.

After several ownership changes and years of consideration,Market Hub Partners (MHP) is finally preparing its proposed saltcavern gas storage project in Copiah, MS, for service. The DukeEnergy subsidiary launched a 30-day open season yesterday to testmarket interest in the project, which initially would provide 3 Bcfof working capacity and about 300 MMcf/d of deliverability on TexasEastern and several other Gulf Coast pipes starting in spring 2004.

Westcoast Energy announced it had acquired 100% of the ownershipand control of, Engage Energy Canada, L.P., as well as the EngageU.S. power business based in Michigan and the Engage gas and powerbusiness in the U.S. Pacific northwest, after the split of itsjoint venture with Coastal Corp on Oct. 3.