Step

The next growth step for Atlantic Canada’s fledgling natural-gasindustry has popped up on the horizon, in the form of a discoverywith potential to double offshore production and exports to NewEngland. Offshore of Nova Scotia, PanCanadian Petroleum Ltd.expects to know by the end of this year the true size of a gas findin the Sable Island region that it has christened Deep Panuke.

The next growth step for Atlantic Canada’s fledgling natural gasindustry has popped up on the horizon in the form of a discoverywith potential to double offshore production and exports to NewEngland. Offshore of Nova Scotia, PanCanadian Petroleum Ltd.expects to know by the end of this year the true size of a gas findin the Sable Island region that it has christened Deep Panuke.

Although FERC’s recent effort to clarify its interconnectionpolicy was a “major step” in the right direction, the ElectricPower Supply Association (EPSA) last week said greater reforms wereneeded to protect new generators seeking to interconnect to thepower grid. It asked the Commission to issue a policy statementthat would “comprehensively” spell out “the rights, obligations andexpectations” of interconnecting generators and providers ofinterconnection/transmission services.

Although FERC’s recent effort to clarify its interconnectionpolicy was a “major step” in the right direction, the ElectricPower Supply Association (EPSA) said greater reforms are needed toprotect new generators seeking to interconnect to the power grid.It has asked the Commission to issue a policy statement that would”comprehensively” spell out “the rights, obligations andexpectations” of interconnecting generators and providers ofinterconnection/transmission services.

American Electric Power (AEP) and Central and South West Corp.(CSW) moved one step closer to becoming the largest electricutility last week when FERC approved the $6 billion marriage of thetwo electric powerhouses. It imposed some conditions on the mergerdeal, but the companies said they weren’t anything they couldn’tlive with.

After about half a year of negotiations, a first step has beentaken towards filling in the last missing link in the Canadianeast-west pipeline grid for natural gas. The Quebec and NewBrunswick governments set a date of Feb. 28 for a formal signingceremony for an agreement-in-principle on promoting construction ofa gas link between their provinces.

Kinder Morgan’s Natural Gas Pipeline Company of America (NGPL)moved a step closer to fulfilling its year-and-a-half-old promiseto FERC yesterday, with the announcement that Akili, an e-businesscompany, has moved into an application and development phase of theonline capacity auction project for the pipeline system. The targetcompletion date of the auction application is mid-March, Akilisaid.

Moving another step closer to becoming a privately-held company,MidAmerican Energy announced yesterday that its shareholdersoverwhelmingly approved the company’s proposed sale to BerkshireHathaway Inc. The company anticipates receiving all requiredapprovals in the first quarter of this year.

Growing weary of waiting, BP Amoco and Atlantic Richfield Co. hope to step up the pace of their ongoing merger procedures by restarting the required 20-day notice period, suspended Nov. 2, at the US Federal Trade Commission (FTC). The companies concede the FTC has concerns about their pairing, but the merger partners said they don’t agree with the issues raised by the commission.