Stamford

Statoil Marketing and Trading Inc. (SMT) will supply NOVA Chemicals Corp. with a long-term supply of ethane from the Marcellus Shale play, under the terms of a memorandum of understanding (MOU) announced by the two companies.

TFS Energy, LLC, an affiliate of the international TFS Brokers, has announced the opening of a Houston office, complementing its existing energy offices in Stamford, CT, on the New York Mercantile Exchange (Nymex), and in New York, London, Frankfurt, Singapore and Sydney.

Sempra Energy’s Stamford, CT-based trading arm, Sempra Commodities, Monday announced an agreement with a renewable energy partnership, Pennsylvania-based New Hope Partners, to create a joint venture specializing in ethanol production in the United States. The partners expect to begin operations in the second quarter this year, Sempra said in its announcement, which did not include terms or conditions for the joint venture.

Sempra Energy’s Stamford, CT-based trading arm, Sempra Commodities, Monday announced an agreement with a renewable energy partnership, Pennsylvania-based New Hope Partners, to create a joint venture specializing in ethanol production in the United States. The partners expect to begin operations in the second quarter this year, Sempra said in its announcement, which did not include terms or conditions for the joint venture.

Making its third purchase of some of Enron Corp.’s European metals trading businesses, Sempra Energy’s Stamford, CT-based trading arm Tuesday shelled out another $24 million in cash to acquire Liverpool (UK)-based Henry Bath Ltd and subsidiaries, a provider of warehousing services for non-ferrous metals in Europe and Asia.

Stamford, CT-based Energy East Corp. said that its merger withCTG Resources Inc. is close to completion and an exchange of sharesor cash is expected soon. Based on preliminary results, ChaseMellonShareholder Services, which is acting as exchange agent, willadjust the cash portion Energy East’s offer by a factor of 0.99. Inexchange for each share of CTG common stock, CTG shareholders hadthe option to receive either $41 in cash or a number of shares ofEnergy East common stock valued at $41. Energy East expectsChaseMellon to begin distributing cash and stock soon. Questionsregarding the exchange may be directed to ChaseMellon at (888)581-9932.

Stamford, CT-based Energy East Corp. said yesterday that its mergerwith CTG Resources Inc. is close to completion (see Daily GPI, Oct. 19, 1999; July 1, 1999) and an exchange of shares orcash is expected soon. Based on preliminary results, ChaseMellonShareholder Services, which is acting as exchange agent, will adjustthe cash portion Energy East’s offer by a factor of 0.99. In exchangefor each share of CTG common stock, CTG shareholders had the option toreceive either $41 in cash or a number of shares of Energy East commonstock valued at $41. Energy East expects ChaseMellon to begindistributing cash and stock soon. Questions regarding the exchange maybe directed to ChaseMellon at (888) 581-9932.

Unico Inc. of Stamford, CT, bought Silver Valley Energy Inc.,including its proven oil and gas reserves located in the GlassMountains of Pecos County, TX, for an undisclosed amount. Theproperty is valued at more than $40 million based upon a recentindependent analysis.

Seeking increased growth opportunities, Citizens Utilities ofStamford, CT, is getting out of the business of distributing gas,electricity and water in order to invest in telecommunications. Thecompany is divesting its Public Services distribution businesses,as well as its wastewater treatment business. As previouslyannounced, Citizens plans to fund $2.3 billion of telephone accessline acquisitions with sale proceeds.