In a move to build up the natural gas side of its business andbecome a Btu trading power, American Electric Power subsidiary AEPResources agreed to buy the midstream gas operations of EquitableResources, principally the Louisiana Intrastate Gas (LIG) system,for $320 million in cash. The addition will be AEP’s firstmidstream gas holdings.
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Petal Holding Open Season for Second MS Cavern
Petal Gas Storage, a subsidiary of Crystal Oil Co. ofShreveport, LA, is holding an open season for 3.2 Bcf of storagecapacity it plans to add at its high deliverability salt cavernstorage facility near Hattiesburg, MS. The open season began lastweek and continues through Oct. 30.
AZ Slated for 520 MW of Gas-Fired Generation
PP&L Global Inc., a subsidiary of PP&L Resources Inc.,plans to build a gas-fired power plant (the Griffith EnergyProject) near Kingman, AZ, with nominal base load capacity of 520MW and a maximum output capability of 650 MW.
AEP Resources Buys Equitable Midstream Assets
In a move to build up the natural gas side of its business andbecome a Btu trading power, American Electric Power subsidiary AEPResources agreed to buy the midstream gas operations of EquitableResources, principally the Louisiana Intrastate Gas (LIG) system,for $320 million in cash. The addition will be AEP’s firstmidstream gas holdings.
Aquila Swapping Gas for Power in MS
UtiliCorp subsidiary Aquila Energy contracted for the option toprovide gas in exchange for power at one of three combined cyclepower units being built in Batesville, MS, by LSP Energy LimitedPartnership. The unit is expected to go on line by summer of 2000.Under the initial 15-year agreement, Aquila will provide gas to runthe unit, and in exchange LSP will provide Aquila the power andelectrical capacity.
Peoples Energy Buys mc2 Retail Portfolio
Peoples Energy Services has purchased the Midwest portfolio ofKN Energy subsidiary mc2 for an undisclosed sum. The transactionincludes 8,000 gas contracts, inventories and related receivables,increasing PE Services’ customer base to more than 20,000 Chicagoarea businesses, the largest of any supplier in the Chicago market,the company said.
Dynegy Buys Processing Assets in Alberta
Dynegy Canada Inc., a subsidiary of Houston-based Dynegy Inc.,announced Friday it has acquired the midstream gas processingfacilities and gathering lines of Compton Petroleum Corp. for anestimated $39 million.
Atlanta Gas Light Services Agrees to New Name
Atlanta Gas Light Services, the retail marketing subsidiary ofGeorgia LDC Atlanta Gas Light, reached a compromise with retailmarketers and state regulators Wednesday, and agreed to change itsname to Georgia Natural Gas Services. The company will retain theuse of its flame logo, however.
Petal Adding Second Cavern to MS Storage Facility
Petal Gas Storage Co. (Petal), a subsidiary of Louisiana-basedCrystal Oil Co., plans to expand its high-deliverability saltcavern storage facility near Hattiesburg, MS. The proposedexpansion would include leaching an additional salt cavern with astorage capacity of 5 Bcf of which 3 Bcf would be working gas. Thenew cavern, combined with the existing 5.2 Bcf cavern (3.2 Bcfworking gas) would have a withdrawal capacity of 600 MMcf/d.
GRI Takes Over Canadian Gas Research
The Gas Research Institute announced its newly created Canadiansubsidiary, GRI Canada, has been selected by Gas Technology Canadato manage a $5 million/year research, development andcommercialization program funded by the Canadian natural gasindustry.