BP Amoco gas unit to buy Canada's ProGas

In a move to strengthen its North American gas portfolio, the recently formed gas and power division of BP Amoco PLC bought for an undisclosed sum the shares in ProGas Ltd., Calgary, that it did not already own.Last year, natural gas supplier and aggregator ProGas sold more than 500 bcf of gas, equivalent to 1.45 bcf/day (bcfd), in the North American market. The company buys gas from about 170 producers in the Western Canadian Sedimentary Basin.BP Amoco is already North America's largest producer of natural gas, with an average output of 3.5 bcfd. The ProGas acquisition will take its total North American gas sales to 7 bcfd and its Canadian sales to 3 bcfd.Richard Flury, chief executiv...

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