Stages

A proposed liquefied natural gas (LNG) project emerging in its very early stages through the Oregon energy siting process is being backed by a private group of four natural gas industry veterans who expect to have a FERC application filed next year for a relatively small-scale $150 million receiving terminal and peaking generation plant at Coos Bay, OR.

A proposed liquefied natural gas (LNG) project emerging in its very early stages through the Oregon energy siting process is being backed by a private group of four natural gas industry veterans who expect to have a FERC application filed next year for a relatively small-scale $150 million receiving terminal and peaking generation plant at Coos Bay, OR.

American Electric Power (AEP) executives on Tuesday said that the utility is in the final stages of selling Louisiana Intrastate Gas Co. (LIG) and is mulling options related to Houston Pipe Line Co. (HPL), which AEP purchased from now-bankrupt Enron Corp. in 2001 (see Daily GPI, June 4, 2001).

Forecasters finally are saying that Old Man Winter soon may be forced into retirement, and that news brought gas futures bears out of their caves on Monday. April futures staged a sharp reversal, opening 34.2 cents lower Monday morning and ending the day at $6.515, down 47.8 cents.

The Interior Department’s Minerals Management Service (MMS) began bringing up its external web site and e-mail systems in stages last Wednesday after a federal court in Washington, DC, gave the agency the green light to re-establish Internet connections and resume operations. The MMS said it expects to have its web page fully restored and updated by the first part of this week.

Transcontinental Gas Pipe Line announced that it is currently in the planning stages to develop an expansion of its pipeline system in the Northeast United States. Known as the Sentinel Expansion Project, Transco said the endeavor could have a capital cost of up to $300 million.

Transcontinental Gas Pipe Line announced that it is currently in the planning stages to develop an expansion of its pipeline system in the Northeast United States. Known as the Sentinel Expansion Project, Transco said the endeavor could have a capital cost of up to $300 million.

Bulls staged a surprising 9.4% rally in March futures to a high on Friday of $2.21 from Wednesday’s low of $2.02. March ended Friday up 4.1 cents to $2.191, slightly off its daily high and 2.6 cents from its $2.165 low, leaving many observers on the edges of their seats wondering if the large number of speculative shorts would reconsider their exposure and propel the market into the $2.20s and possibly $2.30s.

In a move usually reserved for the late stages of acquisitions — and unheard of less than a month after an initial agreement — Dynegy Corp. is in advanced discussions with Enron Corp. to renegotiate its merger offer of Nov. 9 to acquire the Houston-based rival. According to sources, Dynegy wants to reduce the all-stock transaction price by more than 40%, which would put its share price at about $6. Enron closed at $4.11 on Tuesday, 10 cents above its Monday close.