Takes

Further anchoring the proposed Freeport, TX, liquefied natural gas (LNG) import terminal, ConocoPhillips last week bought a 50% stake in the project, agreed to provide $400-450 million in construction funding and will build and operate the terminal for Cheniere Energy and the other partners in Freeport.

Cheniere Energy reported Monday that ConocoPhillips has purchased a 50% general partnership stake in Freeport LNG Development LP and will take the remaining 1 Bcf/d of sendout capacity at Freeport’s proposed 1.5 Bcf/d liquefied natural gas (LNG) import terminal on Quintana Island, near Freeport in Brazoria County, TX. Dow Chemical already has signed a 20-year agreement to receive 500 MMcf/d when the project begins service in 2007.

Woodlands, TX-based Excelerate Energy LLC, which specializes in LNG shipping and marketing, said last week that a subsidiary has acquired the rights to El Paso’s Energy Bridge assets and technology. The transaction includes El Paso’s proposed offshore Louisiana Energy Bridge terminal, which is awaiting licensing by the U.S. Department of Transportation, as well as deployment of additional offshore LNG terminals worldwide. Terms of the deal were not disclosed.

Woodlands, TX-based Excelerate Energy LLC, which specializes in LNG shipping and marketing, said Wednesday that a subsidiary has acquired the rights to El Paso’s Energy Bridge assets and technology. The transaction includes El Paso’s proposed offshore Louisiana Energy Bridge terminal, which is awaiting licensing by the U.S. Department of Transportation, as well as deployment of additional offshore LNG terminals worldwide. Terms of the deal were not disclosed.

Anadarko Petroleum Corp.’s Robert J. Allison stepped down last week as the company’s president and CEO to make room for James T. Hackett, 49, who had been president and COO of Devon Energy Corp. Allison will continue as chairman until Jan. 1, then will serve as the non-executive chairman.

Anadarko Petroleum Corp.’s Robert J. Allison stepped down Wednesday as the company’s president and CEO to make room for James T. Hackett, 49, who had been president and COO of Devon Energy Corp. Allison will continue as chairman until Jan. 1, then will serve as the non-executive chairman.

Bankrupt Mirant Corp. said last Monday that it is taking bids on its Mirant Canada Energy Marketing operations, which include all of its remaining Canadian natural gas marketing and transportation contracts and related assets. The sale of these assets would mean the company’s exit from the Canadian energy business.

Bankrupt Mirant Corp. said Monday that it is taking bids on its Mirant Canada Energy Marketing operations, which include all of its remaining Canadian natural gas marketing and transportation contracts and related assets. The sale of these assets would mean the company’s exit from the Canadian energy business.

Cash numbers that had been firming for nearly all of last week finally headed back down Friday despite the prospect of cool to freezing weekends almost everywhere. Instead, traders looked ahead to general warming trends early this week, some of them due to start before Monday, and behind to Thursday’s screen drop of nearly a quarter in sending prices lower.