Company News: TransCanada to buy Gas Transmission Northwest

TransCanada Corp., Calgary, plans to buy Gas Transmission Northwest Corp. (GTN) for $1.2 billion, plus $500 million of assumed debt, subject to approval from the US Bankruptcy Court for the District of Maryland.GTN is a subsidiary of National Energy & Gas Transmission Inc. (NEGT), Bethesda, Md., which filed for Chapter 11 bankruptcy in July 2003. Upon its emergence from bankruptcy, NEGT will separate from its parent, Pacific Gas & Electric Co., San Francisco.In other midstream news:Australian natural gas company Alinta Ltd. agreed to buy natural gas pipelines and gas-fired power plants in Australia and New Zealand from Duke Energy Corp., Charlotte, NC, for $1.24 billion.In upstream news:X...

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