Regulatory Delay Forces Alliance Out on Financial Limb

Backers of Alliance Pipeline Project are going out on a bigfinancial limb by spending heavily to advance the proposed newCanadian export route to Chicago while still awaiting approval fromthe National Energy Board. Alliance president Dennis Cornelsonreported the international consortium of pipelines and producershas spent about C$200 million (US$145 million) to date. But to keepthe project moving quickly enough to fulfill its schedule, thegroup “will have to double that by the time regulatory approvalsare obtained.”

June 2, 1998

FERC Seeks End to ‘Paper Chase’

The Federal Energy Regulatory Commission yesterday issued anotice of proposed rulemaking (NOPR) in which it seeks industrycomments on how to create an efficient electronic informationsystem for processing and distributing filings.

May 14, 1998

Independence Delays Service Until November 2000

The number of proposed major pipeline projects on schedule forservice in winter 1999 continues to dwindle, with IndependencePipeline telling FERC yesterday it plans to delay service by a yearuntil November 2000. The pipeline’s sponsors said the $678 millionproject will be delayed because of the lengthy construction timerequired. FERC still has not approved the project. Markets for the400-mile pipeline system also have been slow to develop, butsponsors said they recently executed an additional precedentagreement with Eastern Energy Marketing for 99,000 Dth/d of firmtransportation capacity, bringing subscriptions to nearly 70% ofthe pipeline’s 916 MMcf/d capacity.

April 8, 1998

NEB Approves Upstream Link for PNGTS

The Canadian inlet to the proposed Portland Natural GasTransmission System has received approval from the National EnergyBoard, in time for completion on schedule this Nov. 1. Titled thePNGTS Extension, the route will be built by Trans Quebec &Maritimes Pipeline Inc. from a connection with the TransCanadasystem in eastern Quebec at Lachenaie to an exit into New Hampshireat East Hereford.

April 6, 1998

DOJ Clears Enova-Pacific Enterprises Merger

The proposed merger of Pacific Enterprises and Enova Corp. wascleared by the U.S. Department of Justice following a settlementagreement that calls for the merged company to divest itsgeneration assets and seek additional DOJ approval of any purchasesof existing power plants exceeding 500 MW of capacity inCalifornia. It calls for Enova to follow through on its previouslyannounced auction of San Diego Gas & Electric’s (Enova’sprimary electric utility subsidiary) two fossil-fuel power plants,located in Carlsbad and Chula Vista, CA. The agreement ends DOJ’sreview and clears the merger under the notification requirements ofthe Hart-Scott-Rodino Antitrust Improvement Act.

March 10, 1998

Tax Relief Bill for Alternative Fuels Introduced

Rep. John E. Ensign (R-NV) proposed legislation late last weekthat would provide a 50-cent income tax credit for each gallonequivalent of natural gas, propane and methanol used in vehiclesplaced in service after Dec. 31, 1997. The tax credit will act as a”significant financial” incentive for fleet managers and others tostep up their use of clean, domestic fuels.

March 10, 1998
1 65 66 67 Next ›