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Transportation 2001 P14

  • 05/17/2001 -- New California agency wins broad energy financing authority
    A newly created California Power Authority will have broad powers to finance, build, own, and operate power plants and finance natural gas pipelines and storage projects. Signed into law Wednesday by Gov. Gray Davis over Republican opposition, the bill also grants the new agency power of eminent domain and gives it authority to issue up to $5 billion in bonds for various energy projects, including conservation.
  • 05/17/2001 -- New California agency could finance gas pipelines and storage
    A new California Power Authority will have broad powers to finance, build, own, and operate power plants and finance natural gas pipelines and storage projects. Gov. Gray Davis signed a law Wednesday creating the agency, giving it power of eminent domain, and allowing it to issue up to $5 billion in bonds for various energy projects, including conservation.
  • 05/17/2001 -- Analysts' reactions to energy policy are mixed
    Economist Philip Verleger called the White House energy policy "timid" Thursday, while Larry Goldstein of Petroleum Industry Research Foundation and Dan Pickering of Simmons & Co. International thought it was realistic to take a long-term approach to energy supply problems that have taken years to develop.
  • 05/17/2001 -- Bush plan would make siting transmission lines easier
    The Bush administration's energy blueprint would make it easier to site high-voltage transmission lines and boost investment in transmission. It would also make another run at comprehensive electricity legislation and repeal and reform two long-standing laws governing utilities.
  • 05/21/2001 -- Texaco to evaluate gas reserves for LNG project off Angola
    Texaco Inc. plans to begin appraisal drilling later this year to evaluate gas reserves on three of Angola's most prospective offshore blocks that would supply its LNG joint venture with Sonangol. Bill Hauhe, Texaco project manager, said estimates of reserves on deepwater Blocks 15, 17, and 18, along with non-associated gas concessions on shallow water Blocks 1, 2, and 3, are 9.5-25 tcf.
  • 05/21/2001 -- Buckeye to acquire TransMontaigne product pipeline
    Buckeye Pipe Line Co., the general partner of Buckeye Partners LP, Radnor, Pa., has signed a letter of intent to purchase TransMontaigne Inc.'s Norco product pipeline system.
  • 05/22/2001 -- Sithe blames high Boston area power prices on transmission constraints
    Sithe Energies Inc. said yesterday higher consumer electric prices in the Boston area result from transmission constraints that are the responsibility of the local utility, NSTAR, to fix. NSTAR filed last week with Federal Energy Regulatory Commission, alleging generating companies Sithe and PG&E charged excessive rates for electricity. NSTAR requested FERC order refunds and revoke the generators' authority to charge market-based rates when electricity is not available from other sources.
  • 05/22/2001 -- DONG AS urges flexibility in Danish gas decontrol
    An amendment to Danish natural gas legislation could increase competition and split Dansk Olie og Naturgas AS's gas activities into numerous subsidiaries, Chairman Sven Riskær told shareholders. He urged lawmakers to allow DONG to compete in the production and marketing of other forms of energy, including electricity.
  • 05/24/2001 -- Environmental assessment process for Canada's NWT pipeline proposals under way
    Boards and agencies regulating developments in Canada's Northwest Territories have announced plans for a draft framework for a single environmental process for pipelines in Canada's Arctic. The draft framework should streamline the review of any pipeline applications to move natural gas from the Mackenzie Delta and Beaufort Sea offshore to southern markets.
  • 05/25/2001 -- Sonatrach signs $70 million pipeline contract with ABB Lummus
    Algerian state oil company Sonatrach signed a $70 million contract with Swedish ABB Lummus Group for the extension of the OH3 oil pipeline linking Hassi Berkine and Haoud El Hamra oil fields in southeast Algeria, the Organization of Petroleum Exporting Countries' news agency said Friday.
  • 05/29/2001 -- Enbridge looking for more US gas company acquisitions
    Patrick Daniel, president and CEO of Enbridge Inc., says his firm is seeking more acquisitions like the recent $600 million deal for Midcoast Energy Resources Inc.
  • 05/29/2001 -- Conoco agrees to buy Gulf Canada Resources in $6.3 billion deal
    In its strategic push for a quick increase in North American natural gas operations, Conoco Inc., Houston, agreed to buy Gulf Canada Resources Ltd., Calgary, for $4.3 billion cash, or $6.7 billion (Can), officials said Tuesday.
  • 05/29/2001 -- ATCO acquires new Alberta gas processing plant, pipeline
    ATCO Midstream Ltd., a unit of the ATCO Group, Calgary, has acquired a gas gathering and processing plant and a pipeline from Fortune Energy Inc. and Devlan Exploration Inc. for an undisclosed sum.
  • 05/29/2001 -- Coalition says SOCAL pipeline profits from constraints
    Southern California Gas Co. (SOCAL) has little incentive to expand its pipeline capacity because of state rules that allow the company to pocket profits from reselling gas and other gas services in a tight market, witnesses said during a conference on the California gas market.
  • 05/30/2001 -- Oceaneering International, Det Norske Veritas join forces
    Oceaneering International Inc. said its Norwegian subsidiary, Oceaneering AS, signed a joint venture agreement with Det Norske Veritas to provide subsea inspection services. The 50:50 joint venture company, Argus RTM AS, will be based in Stavanger, Norway
  • 05/30/2001 -- Clarkson expects tanker market to remain strong until fall
    The last 6 months have marked the best tanker market in decades, reports Clarkson Research Studies, London. In its latest survey, Clarkson said a large proportion of the tanker fleet is trading on the spot market at rates between $30,000 and $80,000/day.
  • 05/30/2001 -- California's Davis praises Bush directive on natural gas
    California Gov. Gray Davis Tuesday praised President George W. Bush's directive to investigate high natural gas prices in the state, but confirmed they remained far apart on the 'big enchilada' of temporary electricity price relief. Newly appointed FERC commissioner Pat Wood will look into charges of gas market manipulation, Davis said.
  • 05/30/2001 -- Canadian companies to operate Oman pipeline system
    Oman Gas Co. has awarded a consortium of two Canadian companies a 5-year contract to operate and maintain the Omani gas transmission system, which includes an existing 800-km pipeline and two lines under construction totaling 1,000 km.
  • 05/30/2001 -- SOCAL says California pipeline capacity adequate
    Contradicting critics, Southern California Gas Co. (SOCAL) insists it has sufficient capacity to meet demand for gas this summer on its intrastate pipeline system. But bottlenecks at the border almost insure certain customers, including electric generators, will pay higher gas prices this summer, said Norman Pederson, attorney with Jones, Day, Reavis & Pogue of Los Angeles.
  • 05/31/2001 -- DOE funds 11 R&D projects to improve gas pipelines
    US Energy Sec. Spencer Abraham Thursday announced 11 government-industry projects that will develop high-technology ways to improve interstate gas pipelines' safety and performance. Research will include miniature robots and other methods to detect leaks or corrosion.

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