Pact

Cheniere Energy Inc. moved a step closer to developing two new LNG import terminals at Corpus Christi, TX, and Sabine Pass, LA, signing an agreement with Bechtel Corp. for engineering, procurement and construction (EPC) of the facilities. Bechtel will work over the next few months to develop a lump-sum turnkey estimate for the terminals, based on the front end engineering design (FEED) currently being completed.

Cheniere Energy Inc. moved a step closer to developing two new LNG import terminals at Corpus Christi, TX, and Sabine Pass, LA, signing an agreement with Bechtel Corp. for engineering, procurement and construction (EPC) of the facilities. Bechtel will work over the next few months to develop a lump-sum turnkey estimate for the terminals, based on the front end engineering design (FEED) currently being completed.

Reliant Resources Inc. last Wednesday said that it has entered into a definitive agreement for the sale of its 588 MW Desert Basin plant in Arizona to the Salt River Project Agricultural Improvement and Power District (SRP) for $288.5 million.

El Paso Corp. last week reported fourth-quarter results that were buried deep in red ink due largely to the company’s exodus from trading, a new accounting rule and its settlement with California and three other western states of charges related to manipulation of energy prices in the region two years ago.

El Paso Corp. Monday reported fourth-quarter results that were buried deep in red ink due largely to the company’s exodus from trading and its settlement with California and three other western states of charges related to manipulation of energy prices in the region two years ago.

The Department of the Interior’s Minerals Management Service and the state of Louisiana signed a memorandum of understanding Friday to jointly implement a royalty-in-kind (RIK) pilot program for federal oil and gas leases located in the 8(g) zone offshore Louisiana. The pilot program also may potentially include state oil and gas leases if the state so decides.

The Department of the Interior’s Minerals Management Service and the state of Louisiana signed a memorandum of understanding Friday to jointly implement a royalty-in-kind (RIK) pilot program for federal oil and gas leases located in the 8(g) zone offshore Louisiana. The pilot program also may potentially include state oil and gas leases if the state so decides.

In a deal that began with a phone call from one chairman of the board to another a day after Enron Corp’s third quarter earnings were released, Dynegy Inc. and Enron agreed to merge on Friday in a transaction estimated to be worth about $22 billion. In the process, Enron will lose its once stellar name, while the new company, which will keep the Dynegy trademark, will become the largest energy trading and marketing company in the world, with revenues expected to exceed $200 billion. The combined company also would have about $90 billion in assets. Through the third quarter of 2001, the two companies had gas sales of about 40 Bcf/d and power sales exceeding 500 million MWh. Its combined assets would include more than 22,000 MW of generating capacity and 25,000 miles of pipe.

Maine Natural Gas (MNG) has signed a multi-year contract thatwill guarantee gas service to the Mid-Coast region of Maine. MNG, ajoint venture formed by CMP Group and Energy East, signed anagreement with the Federal Government to provide natural gastransportation to the Brunswick Naval Air Station located inBrunswick.