COLUMBIA GAS TO SELL CANADIAN, LNG UNITS
Financially plagued Columbia Gas System Inc. has agreed to two major asset sales totaling more than $200 million. CGS signed a conditional agreement to sell its Columbia LNG Corp. unit to Shell Oil Co. unit Shell LNG Corp. for $128.5 million. Columbia LNG owns the Cove Point, Md., liquefied natural gas import terminal. CGS also agreed to sell its Canadian unit Columbia Gas Development of Canada Ltd. (CGDC), Calgary, to Anderson Exploration Ltd., also of Calgary, for $109.3 million (Canadian).