Purchased

In an effort to improve its access to major refining and petrochemical markets in southern Louisiana, Enterprise Products Partners LP (EPP) has purchased three intrastate natural gas liquids (NGL) pipeline systems from Chevron Midstream Pipelines LLC for an undisclosed price. EPP said the move will expand and extend the partnership’s South Louisiana network of midstream infrastructure. Originating from a central point in Henry, LA, the 212 miles of intrastate pipelines extend westward to Lake Charles, northward to Breaux Bridge in St. Martin Parish and eastward to Napoleonville, where Enterprise’s Promix NGL fractionation and storage facilities are located. “Reflecting the efficiencies and flexibility of our integrated midstream network, this targeted acquisition enhances our NGL pipeline access to the sizeable refining and petrochemical complex in Lake Charles for a relatively modest capital investment,” said EPP CEO Michael A. Creel, president and CEO of Enterprise. He noted that the assets acquisition would “complement our ongoing expansion plans in South Louisiana.” EPP’s network of intrastate pipelines in Louisiana transports NGL products between key supply points, including the partnership’s storage and terminal facilities at Breaux Bridge and its fractionation facilities at Norco, Promix and Baton Rouge, as well as various markets at Napoleonville, Geismar and other points along the Mississippi River. In addition to improving the partnership’s Louisiana NGL pipeline system to Lake Charles, the acquisition will increase capacity between Breaux Bridge and Napoleonville, EPP said. This bidirectional pipeline will also provide additional capacity for delivering Louisiana propane production into the Enterprise-owned Dixie Pipeline system for transportation to end-use markets throughout the southeastern United States or to the partnership’s Mont Belvieu, TX, NGL fractionation complex.

A subsidiary of Enterprise Products Partners LP has purchased a 70% stake in the Rio Grande Pipeline, a natural gas liquids (NGL) pipe, from HEP Navajo Southern LP. The purchase price was not disclosed.

Los Angeles-based Rentech Inc., which is commercializing a waste-to-clean energy process, announced Wednesday that it has purchased 100% and 25% interests in biomass gasification technology companies.

Signaling the continued downward trend of wholesale natural gas prices, Intermountain Gas Co. puts its second consecutive purchased gas adjustment (PGA) rate decrease in effect Monday, while Spokane, WA-based Avista Utilities last Friday asked the Idaho Public Utilities Commission (PUC) to lower its rates following a similar drop in the PGA.

Well-known shareholder activist Carl Icahn, who has made a run on energy companies to improve their performance — and their stock prices — purchased about 3.1 million shares of Anadarko Petroleum Corp., a stake worth an estimated $133.4 million on March 31, according to a regulatory filing with the Securities and Exchange Commission (SEC).

Investor Carl Icahn, a well-known “shareholder activist,” has purchased about 3.1 million shares in Anadarko Petroleum Corp., a stake worth an estimated $133.4 million on March 31, according to a regulatory filing with the Securities and Exchange Commission (SEC).

Ormat Technologies announced Monday that it has exercised some previously announced options completing four 25-year purchased power agreements with Bismarck, ND-based Basin Electric Power Cooperative for small amounts of electricity that will be generated with some of Ormat’s recovered energy generation equipment on natural gas transmission pipeline compressors. Collectively, the deals amount to 22 MW and will be phased in over the next two years.

Pennsylvania regulators last Tuesday approved a settlement agreement that allows Pittsburgh-based Duquesne Light Holdings to be purchased by a consortium led by Macquarie Infrastructure Partners (MIP) and Diversified Utility and Energy Trusts (DUET) for an estimated $1.6 billion.

To build its presence in the U.S. offshore, Itochu Corp. has purchased Range Resources Inc.’s Gulf of Mexico (GOM) natural gas-rich assets for $155 million. Japan’s fourth-largest trading company said it plans to invest about $170 million [Y20 billion) this year in the United States to build its U.S. gas business.