FERC paved the way for a significant increase in liquefied natural gas (LNG) imports last Thursday by approving two new import terminals and associated pipelines in Mississippi, authorizing an expansion of the Creole Trail pipeline in Louisiana and approving an expansion of the Maritimes & Northeast pipeline to accommodate LNG from the Canaport LNG project in Canada.
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FERC Approves 4 Projects to Boost LNG Imports
FERC paved the way for a significant increase in liquefied natural gas (LNG) imports Thursday by approving two new import terminals and associated pipelines in Mississippi, authorizing an expansion of the Creole Trail pipeline in Louisiana and approving an expansion of the Maritimes & Northeast pipeline to accommodate LNG from the Canaport LNG project in Canada.
Price Rally Mostly Moderate, Not Universal
As a couple of sources had expected Friday, that day’s record-setting action in crude oil futures paved the way for a general cash gas rally Monday, even though the natural gas screen had fallen more than 8 cents going into the weekend. The return of industrial load from a weekend slump, moderately cooler weather in northern market areas to start the week and continued storage injection demand also played a part in Monday’s overall bullishness.
FERC Attaches String to Affiliate Transfer of Pipe, Storage Assets
FERC last week issued a certificate that paved the way for a new pipeline company, NGO Transmission Inc., to acquire 171 miles of existing pipe and storage facilities in central Ohio from a distribution affiliate, but there was a string attached. If it accepts the certificate, NGO Transmission, contrary to its wishes, would become an interstate gas pipeline subject to the agency’s open-access requirements.
$3.8B Refining Sale to Shell, Paves Way for Chevron-Texaco Merger
In a deal that paved the way for the Chevron-Texaco merger to be completed last week, Royal Dutch/Shell Group signed a $3.8 billion agreement to buy out Texaco’s two oil refining and marketing joint ventures, making Shell the largest U.S. gasoline refiner with nearly a 15% market share. The sale of Texaco’s joint ventures was confirmed on the last day before the assets were due to go into a trust to allow completion of the Chevron Texaco combination, as specified by the Federal Trade Commission. The $39 billion merger gained approval Tuesday from shareholders of both companies and was completed shortly after the shareholders voted.
Panda is the Latest Player in FL Generation Market
Panda Energy Intl. Inc. paved the way for its entrance into theFlorida generation market last week by announcing that petitionsfor determination of need have been filed with the Florida PublicService Commission to build two 1,000 MW power plants. Both plantswill cost $300 million and are expected to begin commercialoperation in May of 2003.
Panda Vies for Florida Generation Play
Panda Energy Intl. Inc. paved the way for its entrance into theFlorida generation market yesterday by announcing that petitionsfor determination of need have been filed with the Florida PublicService Commission to build two 1,000 MW power plants. Both plantswill cost $300 million and are expected to begin commercialoperation in May of 2003.
FERC Reaffirms Ruling On AGL Unbundling
FERC last week upheld an earlier order that paved the way forGeorgia’s largest utility to implement retail unbundling behind itscitygate in late 1998.