Representing

Representing utilities that serve as many as 64 million natural gas customers in the United States, the American Gas Association (AGA) last week said it fully supports “continued and vigorous” oversight of gas markets by federal regulators. However, it believes that senators, who are pressing for investigations of the gas market, should do their part by passing the omnibus energy bill (HR 6) in this session of Congress.

Representing utilities that serve as many as 64 million natural gas customers in the United States, the American Gas Association (AGA) said it fully supports “continued and vigorous” oversight of gas markets by federal regulators. But it believes that senators, who have pressed for the investigations of the gas market, should do their part by passing the omnibus energy bill (HR 6) in the second session of the 108th Congress.

Aquila Inc. said it received US$477 million after fees and expenses for its Australian energy investments from a consortium representing Alinta Limited, AMP Henderson and their affiliates. The proceeds were about US$32 million higher than earlier estimates mainly because of a stronger Australian dollar. Aquila said the net proceeds will be used to repay obligations under its recent 364-day secured loan and for other actions to strengthen the company’s balance sheet. Aquila’s investments in Australia included a 34% investment in United Energy Limited, the first electric distribution system to be privatized by the state of Victoria. Aquila purchased its interest in UEL in 1995. Prior to the sale Aquila also owned a significant minority interest in Alinta, a natural gas distributor and operator of a retail gas business in the state of Western Australia, and an interest in Multinet Gas, a gas distribution business in Victoria. The sale of the Australian investments is part of Aquila’s back to basics strategy, which has involved exiting the energy trading business, selling international assets and merchant power plants and refocusing on its utility operations in Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska and Michigan.

The Process Gas Consumers (PGC), representing end users whose processes require the use of natural gas, has advised FERC Chairman Pat Wood it is “strongly” opposed to the federal government taking a hand in the price reporting process for natural gas, which is currently performed by independent publishers (such as NGI).

Raymond James analysts tallied third quarter production statistics from 33 companies, representing 49% of total domestic production and found a 0.9% drop in natural gas production from the second quarter and a 6% decline from 3Q2001.

Raymond James analysts tallied third quarter production statistics from 33 companies, representing 49% of total domestic production and found a 0.9% drop in natural gas production from the second quarter and a 6% decline from 3Q2001.

In what could turn into another problem for bankrupt Enron Corp., a group representing 32 Pacific Northwest industrial customers has asked FERC to conduct a more thorough analysis of Northwest Natural Gas Co.’s planned acquisition of Enron affiliate Portland General Electric (PGE).

A group representing 32 industrial customers in the Pacific Northwest has asked FERC to conduct a more thorough analysis of Northwest Natural Gas Co.’s planned acquisition of Enron affiliate Portland General Electric (PGE). The group charges that the deal could reduce competition in the region’s natural gas transportation and power markets. Northwest Natural and Enron agreed to the $1.8 billion cash and stock transaction in October two months before Enron declared bankruptcy (see Power Market Today, Oct. 9).

Evergreen Resources grabbed another 17,800 acres of coalbed methane properties, representing about 40 Bcf of proven reserves in the southern Colorado portion of the Raton Basin for $19.2 million from Shenandoah Operating Co. The purchase brings Evergreen’s total gross acreage position in the Raton to 265,000 acres.