Portfolio

The rapid growth of renewable energy through state renewable portfolio standards and other actions nationwide will have a substantial negative impact on natural gas demand and prices, according to a new report by scientists at the Lawrence Berkeley National Laboratory.

The rapid growth of renewable energy through state renewable portfolio standards and other actions nationwide will have a substantial negative impact on natural gas demand and prices, according to a new report by scientists at the Lawrence Berkeley National Laboratory.

Enterprise Products Partners LP has added two more El Paso Corp. properties to its portfolio with the purchase of its East Texas natural gas subsidiaries. Enterprise paid $74.5 million for the natural gas gathering system and natural gas cryogenic processing plant, and the acquisition is expected to be immediately accretive to cash flow in 2005. According to Enterprise, the East Texas plants, located in Polk County, TX, own an 80% equity interest in three gathering systems, which represent a combined 89 miles of two-inch to 12-inch pipeline system, and a 75% equity interest in the Indian Springs gas processing facility. The Indian Springs processing plant has capacity to process up to 120 MMcf/d. In addition, there is an idle 20 MMcf/d train available for restart to support an increase in gas volumes. The gas processed at the Indian Springs plant is sourced from the Polk County gas gathering systems, as well as the nearby Big Thicket gathering system. Big Thicket is a 240-mile pipeline system located in Tyler and Hardin counties that is owned and operated by Enterprise. Together, these gathering systems cover a significant portion of the prolific Woodbine, Wilcox and Yegua production areas in East Texas.

Enterprise Products Partners LP announced Monday it added more El Paso Corp. properties to its portfolio with the purchase of two East Texas natural gas subsidiaries. Enterprise paid $74.5 million for the natural gas gathering system and natural gas cryogenic processing plant, and the acquisition is expected to be immediately accretive to cash flow in 2005.

The nation’s largest public employee pension fund, the California Public Employees’ Retirement System (CalPERS), Monday agreed to pursue part of a so-called “Green Wave” environmental investment initiative by seeking to reduce by 20% over the next five years the energy use in the pension fund’s $7.9 billion investment in 144 million square feet of real estate holdings.

The nation’s largest public employee pension fund, the California Public Employees’ Retirement System (CalPERS), Monday agreed to pursue part of a so-called “Green Wave” environmental investment initiative by seeking to reduce by 20% over the next five years the energy use in the pension fund’s $7.9 billion investment in 144 million square feet of real estate holdings.

With the sale of its domestic power portfolio nearly complete, El Paso Corp. said Thursday that it is transforming its merchant energy business with a new name and a new focus: marketing the natural gas produced by the company’s exploration and production (E&P) business and by other producers.

With the sale of its domestic power portfolio nearly complete, El Paso Corp. said Thursday that it is transforming its merchant energy business with a new name and a new focus: marketing the natural gas produced by the company’s exploration and production (E&P) business and by other producers.

With the sale of its domestic power portfolio nearly complete, El Paso Corp. said Thursday that it is transforming its merchant energy business with a new name and a new focus: marketing the natural gas produced by the company’s exploration and production (E&P) business and by other producers.