Teaming

Teaming up in order to “dominate the next evolution of the energy markets,” GFI Group Inc. and Amerex Energy reported late last week that they have agreed to a deal under which GFI will acquire the North American brokerage operations and assets of Amerex Energy, a group of business entities that is a leading interdealer broker of electric power, natural gas and emissions products and related derivative and option contracts in North America. The purchase price is $86 million in cash.

Alliance Pipeline, Duke Energy Gas Transmission (DEGT) and NJR Pipeline Co. are teaming up to propose a new 125-170-mile bidirectional pipeline between the Chicago Hub and the Lebanon Hub in Ohio to provide Canadian producers better access to premium gas markets in the Northeast.

Alliance Pipeline, Duke Energy Gas Transmission (DEGT) and NJR Pipeline Co. are teaming up to propose a new 125-170-mile bidirectional pipeline between the Chicago Hub and the Lebanon Hub in Ohio to provide Canadian producers better access to premium gas markets in the Northeast.

TEPPCO Partners LP and an affiliate of Enterprise Products Partners LP are teaming up to expand the Jonah Gas Gathering System in the Green River Basin of southwestern Wyoming to 2 Bcf/d from 1.5 Bcf/d. The expansion, expected to be completed in 4Q2006, will cost about $200 million.

Agrium U.S. Inc. is teaming up with Alaskan officials to evaluate the potential use of coal gasification as a feedstock for its Nikiski fertilizer plant in Kenai, AK, which is slated to close in 2006 when natural gas supplies run out. If a feasibility study proves coal gasification would work, Agrium said the gasification facility could be in operation as early as 2011.

One of the nation’s largest banks, Wachovia Corp., is offering a new twist on the “Big Bank Moves in on NatGas Market” story, teaming with a Tulsa, OK, E&P company, Resolute Holdings, parent of Resolute Natural Resources, to offer its customers, both producers and gas users, what they’ve asked for: some stability around their physical gas sales and purchases.

One of the nation’s largest banks, Wachovia Corp., is offering a new twist on the “Big Bank Moves in on NatGas Market” story, teaming with a Tulsa, OK, E&P company, Resolute Holdings, parent of Resolute Natural Resources, to offer its customers, both producers and gas users, what they’ve asked for: some stability around their physical gas sales and purchases.

All factions of the Canadian energy industry wasted no time in teaming up to tell the newly-elected minority government in Ottawa it will step in a political minefield if it interferes with the status quo of deregulation and free trade with the United States.

All factions of the Canadian energy industry wasted no time in teaming up to tell the newly-elected minority government in Ottawa it will step in a political minefield if it interferes with the status quo of deregulation and free trade with the United States.