Westcoast Energy, a partner in more venturesome natural gasprojects, announced it has sold wholly-owned subsidiary Centra GasManitoba to Manitoba Hydro for $245 million.
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El Paso Takes 50% Stake in CalEnergy Power Company
In an effort to smooth the way for FERC approval of its mergerwith MidAmerican, CalEnergy sold a 50% stake in power generationsubsidiary CE Generation LLC to El Paso Energy last week for $259.6million, including $236.1 million in cash and $23.5 million in debtand other payments. CE Generation is the holding company for 14U.S. power plants with capacity to produce 896 MW of electricity.
ARCO, Chevron Combine Permian Basin Assets
A deal to joint venture the Permian Basin oil and gas producingassets of ARCO Permian, an ARCO subsidiary, and Chevron USAProduction will save the companies money and serve as a platformfor the addition of other Permian interests.
NGL Line To Begin Service Next Month
Enterprise Products Partners LP of Houston subsidiary EnterpriseProducts Operating LP and five other energy companies have agreedon the ownership and operating terms of Tri-States NGL PipelineLLC.
TriState Project Filed with NEB
Westcoast Energy said its subsidiary St. Clair Pipelinessubmitted an application to Canada’s National Energy Board forconstruction of the Canadian portion of the TriState PipelineProject. The project would provide 450 MMcf/d of new firmtransportation capacity from the Chicago Hub through Indiana andMichigan to the Dawn Hub in Ontario. Project partner CMS Energyfiled an application for the U.S. portion in November of last year.Westcoast has a 33.3% stake in TriState.
CMS Builds Gathering Presence
CMS Energy’s subsidiary CMS Continental Natural Gas said it hascompleted the acquisition of a 750-mile gathering system in northcentral Texas from Koch Hydrocarbon Co. Terms of the deal were notdisclosed.
Westcoast Files TriState with NEB
Westcoast Energy said its subsidiary St. Clair Pipelinessubmitted an application to Canada’s National Energy Board forconstruction of the Canadian portion of the TriState PipelineProject, which would provide 450 MMcf/d of new firm transportationcapacity from the Chicago Hub through Indiana and Michigan to theDawn Hub in Ontario. Project partner CMS Energy filed anapplication for the U.S. portion in November of last year.Westcoast has a 33.3% stake in TriState.
CMS Increases Gathering Presence in Panhandle
CMS Energy’s subsidiary CMS Continental Natural Gas said it hascompleted the acquisition of a 750-mile gathering system in northcentral Texas from Koch Hydrocarbon Co. Terms of the deal were notdisclosed.
Coast Energy Buys Trading Assets of ERI Canada
Coast Energy Canada Inc., a wholly owned subsidiary ofCornerstone Propane Partners L.P., finalized the purchase of thegas trading assets of ERI (Equitable Resources) Canada Ltd.,effective Dec. 31. Terms of the acquisition were not disclosed.
PP&L Inks Major Power Marketing Deal with ENE
PP&L, Inc., a subsidiary of Allentown, PA-based PP&LResources, said it expects to sign an agreement to providewholesale electric power marketing, trading and risk-managementservices on a “round- the-clock” basis to Energy New England LLC,an energy cooperative organization formed to provide energy andrelated services to public power entities in New England. ENErepresents about 700 MW of peak load and 850 MW of energy supply.It is the largest wholesale aggregator of public power system loadand generation assets in the New England region.