Pulls

Marathon Oil Corp. is apparently dropping plans to build a liquefied natural gas (LNG) terminal in Baja California after Mexican authorities took back the leases for the site the company was considering.

TECO Energy last Thursday said that it has decided to drop out of the 2,145 MW Gila River power station in Arizona and the 2,200 MW Union Power Station in Arkansas and will cease funding the plants. As a result, the company will record an after-tax impairment charge of up to $780 million.

Aquila Inc. on Thursday said that it has initiated steps to terminate an agreement to sell its 79.9% interest in Aquila Sterling Ltd., the owner of Midlands Electricity plc, to a subsidiary of Scottish and Southern Energy plc.

Citing rising project costs, Duke Energy subsidiary Algonquin Gas Transmission Co. last Monday withdrew its FERC application to build a lateral extension to supply natural gas to Boston and surrounding communities.

Citing rising project costs, Duke Energy subsidiary Algonquin Gas Transmission Co. on Monday withdrew its FERC application to build a lateral extension to supply natural gas to Boston and surrounding communities.

Williams has pulled up its 40-year stake in the oil business to focus on natural gas production, processing and transportation after agreeing to sell its 54.6% stake in Williams Energy Partners LP (WEG) to a group of private equity firms. Williams will receive $512 million in cash, and the agreement also will remove $570 million of the partnership’s debt from Williams’ balance sheet.

Williams has pulled up its 40-year stake in the oil business to focus on natural gas production, processing and transportation after agreeing to sell its 54.6% stake in Williams Energy Partners LP (WEG) to a group of private equity firms. Williams will receive $512 million in cash, and the agreement also will remove $570 million of the partnership’s debt from Williams’ balance sheet.

Tractebel North America Inc., a mid-sized energy marketing company, has exited the speculative trading business, following the lead of nearly all the major players once in the marketplace. Three employees were laid off in Tractebel’s Houston office and the rest of the 30-member trading group was offered other positions in the company, according to a spokesperson.

Tractebel North America Inc., a mid-sized energy marketing company, has exited the speculative trading business, following the lead of nearly all the major players once in the marketplace. Three employees were laid off in Tractebel’s Houston office and the rest of the 30-member trading group was offered other positions in the company, according to a spokesperson.