Rather than extending FERC’s standards of conduct to cover mostly all energy affiliates of power/natural gas transmission providers, a Dominion Resources official proposed last week that the Commission focus on identifying the specific functions of energy transmission providers and their affiliates that could lead to sharing of competitive market information, and place restrictions in those areas.
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FERC Targets Gas, Power Phony ‘Wash’ Trades; Suppliers Deny Misconduct
Last week was an active one for the Federal Energy Regulatory Commission. The staff heading up the agency’s three-month probe into price-manipulation activities widened its inquiry to include questionable “wash” trading transactions, targeting natural gas and power suppliers in Texas and western energy markets. At the same time, it was inundated with energy suppliers’ almost-blanket denials that they used apparently deceptive Enron-style trading practices in California and other western markets during the critical 2000-2001 period.
Japanese Interests Plan LNG Terminal in Los Angeles Harbor
Japanese interests, including giant Mitsubishi Corp., are pursuing a possible liquefied natural gas (LNG) receiving terminal in Los Angeles Harbor, which combined with neighboring Long Beach is the busiest port in the United States and the third busiest in the world. Rather than suffer through the pitfalls of their predecessors by overlooking local concerns, the Japanese are making a grass roots effort to get this project off the ground.
PacifiCorp Power Grows Gas Storage Business
PacifiCorp Energy Canada’s Enstor division said last week that it has acquired Dominion Canada’s 40% stake in the Alberta Hub natural gas storage facility. The company’s affiliate, PacifiCorp Power Marketing Inc. (PPM), said it plans to market the capacity and add more storage facilities to its portfolio in the near future. Terms of the transaction were not disclosed.
Eastern Canadians Say They’re Being Charged ‘Boston Prices’ for Sable Gas
Eastern Canadians are not only being denied access to most natural gas produced offshore of Nova Scotia, they also are being made to pay a premium for the limited supplies they can divert from exports to New England, the National Energy Board (NEB) has been told. The complaint was made by New Brunswick’s assistant deputy energy minister, Donald Barnett. It forms part of the provincial government’s case for an exception to be made from free trade in gas with the U.S. in order to hold back supplies traveling on Maritimes & Northeast through eastern Canada. Hearings have been called for July 15 in Fredericton, NB.
Shell to Build Dual Oil, Gas Pipes in Deepwater Gulf
Shell Oil Co. plans to build a dual natural gas and crude oil pipeline project in the deepwater Gulf of Mexico, opening a new transportation corridor for production by 2004. The $87 million project initially would serve the southern Garden Banks area anchored by the 4,700-foot-deep Magnolia development, which is expected to begin production in late 2004. The field is operated by 75% stakeholder Conoco, and Ocean Energy holds the remaining 25% interest.
Apache Takes Dynegy, Versado to Court for Breach of Processing Agreement
Apache Corp. filed a lawsuit last week against Dynegy Midstream Services LP and Versado Gas Processors LLC in the district court of Harris County, TX, claiming that the companies “engaged in bad faith” and broke their contractual obligations to pay for natural gas and natural gas liquids.
Eastern Canadians Say They’re Being Charged ‘Boston Prices’ for Sable Gas
Eastern Canadians are not only being denied access to most natural gas produced offshore of Nova Scotia, they also are being made to pay a premium for the limited supplies they can divert from exports to New England, the National Energy Board (NEB) has been told. The complaint was made by New Brunswick’s assistant deputy energy minister, Donald Barnett. It forms part of the provincial government’s case for an exception to be made from free trade in gas with the U.S. in order to hold back supplies traveling on Maritimes & Northeast through eastern Canada. Hearings have been called for July 15 in Fredericton, NB.
White House Release of Enron Contacts Falls Short of Senate’s Demands
The White House’s six-page list released Wednesday identifying numerous contacts between Bush administration officials and former energy giant Enron Corp. “does not by a long stretch” comply with the Senate’s subpoenas for more exhaustive records and documents, said a spokeswoman for Sen. Joseph Lieberman (D-CT).
Judge Denies Government’s Bid to Dismiss Task Force Lawsuit
A federal court judge Thursday denied the Department of Justice’s request to dismiss a lawsuit seeking documents from Vice President Dick Cheney and his energy task force related to the development of the national energy policy last year.