Prepares

While the Federal Energy Regulatory Commission (FERC) prepares to issue a pronouncement Wednesday that is expected to endorse an industry consensus for adjustments to the current natural gas and power price reporting function, the Senate Energy and Natural Resources Committee is considering adding a provision to the energy bill that would regulate price publishers under the Commodity Futures Trading Commission (CFTC), according to Senate sources.

Acknowledging the expanding role for liquefied natural gas (LNG) in the U.S. gas supply mix, the Federal Energy Regulatory Commission last week gave a major boost to three LNG projects — Southern LNG Inc.’s expansion of its Elba Island facilities in Georgia, AES Ocean Express LLC’s Bahamian import terminal and Tractebel’s Bahamian terminal — and expressed its support for the gas industry’s continued thrust in this direction.

Acknowledging the expanding role for liquefied natural gas (LNG) in the U.S. gas supply mix, the Federal Energy Regulatory Commission on Wednesday gave a major boost to three LNG projects — Southern LNG Inc.’s expansion of its Elba Island facilities in Georgia, AES Ocean Express LLC’s Bahamian import terminal and Tractebel’s Bahamian terminal — and expressed its support for the gas industry’s continued thrust in this direction.

The pipeline constrained Rocky Mountain region is less than a month away from getting a major new pipeline expansion, and one other large expansion project is making progress and should be filed with FERC in the next few months, according to company officials.

The pipeline constrained Rocky Mountain region is less than a month away from getting a major new pipeline expansion, and one other large expansion project is making progress and should be filed with FERC in the next few months, according to company officials.

As it prepares to open its enterprise to outside contractors, Mexico’s Petroleos Mexicanos Exploration & Production (Pemex E&P) has signed a $60 million, two-year contract with Schlumberger Ltd. to manage its upstream asset information.

As additional firms emerged Monday on the growing list of companies receiving grand jury subpoenas last week from the U.S. Attorney’s Office in San Francisco for a widening federal probe, staff members of the state senate’s investigative committee looking at alleged manipulation of California energy markets said it will hold a hearing Nov. 18 to examine the role natural gas played in the state’s 2000-2001 power crisis.

Dynegy Inc.’s new chairman and interim CEO told employees in a company memo Friday morning to expect more jobs to soon be cut. In Houston, rumors had been circulating for days, after the administrator of the company’s human resources department resigned (see Daily GPI, Sept. 27).

The Securities and Exchange Commission (SEC) agreed to a $3 million settlement with Dynegy Inc. Tuesday, settling the first of its far-reaching investigations of energy merchants’ “round-trip” transactions. It also completed its scrutiny of a Dynegy off-balance sheet transaction.