Provides

IntercontinentalExchange (ICE) received a ruling from the U.S. Internal Revenue Service (IRS) designating ICE Futures as a “qualified board or exchange,” which provides U.S. participants in ICE Futures markets with “60/40 tax treatment.”

A consortium composed of South Korea’s national oil company KOGAS, Korean-based LG International and Houston-based EMS Group have signed a memorandum of understanding (MOU) to operate the liquefied natural gas (LNG) facility being developed near Port Lavaca, TX, in Point Comfort.

Briarcliff Manor, NY-based Optionable Inc., which provides natural gas and other energy derivatives brokerage services, announced Friday that it had a record month in the number of contracts traded for its clients.

South Carolina Electric & Gas Co. (SCE&G), which provides natural gas to about 294,000 customers, on Thursday requested an overall 3.26% increase to its gas base rates from the Public Service Commission of South Carolina (PSC). The filing is the SCANA Corp. subsidiary’s first under a 2005 state law designed to reduce the volatility of customer rates by allowing for recovery of costs associated with maintaining and expanding infrastructure.

The House Appropriations Committee on Tuesday approved a $602 billion spending bill that provides $2 billion to help low-income consumers pay their winter heating and summer cooling bills in fiscal year 2007.

Shell Energy Services Co. LLC, which provides natural gas service to residential and commercial customers in Georgia and Ohio, said Friday it will sell nearly all of its assets to MXEnergy Inc. for an undisclosed price. The sale is expected to close in mid-2006.

El Paso Natural Gas has put in service a 502 MMcf/d expansion that provides a needed crossover between its North System and South System mainlines, similar to the already existing Havasu Crossover.

FERC on Wednesday gave El Paso Natural Gas the green light to begin service on a 502 MMcf/d expansion that provides a needed crossover between its North System and South System mainlines, similar to the already existing Havasu Crossover. The new facilities are scheduled to begin operation on Dec. 30, according to El Paso.

FERC on Monday adopted a policy statement that provides interim guidance, pending a future rulemaking, to companies that are challenging federal or state decisions involving interstate natural gas pipelines and liquefied natural gas (LNG) terminals in federal appeals court. The guidance primarily applies to existing cases.