Energy Central Daily Gas News

Message-ID: <32624782.1075861765000.JavaMail.evans@thyme> Date: Sun, 25 Nov 2001 10:59:15 -0800 (PST) From: gasnews@mail.energycentral.com To: khyatt@enron.com Subject: Daily Gas News - 11/26/01 Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: gasnews@mail.energycentral.com X-To: khyatt@enron.com X-cc: X-bcc: X-Folder: \KHYATT (Non-Privileged)\Hyatt, Kevin\Deleted Items X-Origin: Hyatt-K X-FileName: KHYATT (Non-Privileged).pst Energy Central Daily Gas News

MONDAY, NOVEMBER 26, 2001

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TOP STORIES

Pipeline Regulators Reconsidering Open-records Policy
Nov 24, 2001 - Cox News Service Officials of the federal Office of Pipeline Safety are reconsidering a once-broad policy on open records because of concerns that oil and natural gas pipelines might be vulnerable to terrorist attacks.

Gas Reserves of China's Largest Onshore Oilfield Revealed
Nov 25, 2001 - Xinhua News Agency The proven reserves of natural gas at Changqing Oil Field, China's largest gas zone, tops 1 trillion cubic meters, the Changqing Oilfield Company announced Friday.

Revision cuts Western Canada gas storage capacity
NEW YORK, Nov. 23 (Reuters) The Canadian Gas Association (CGA) said Friday it revised its Western Canadian natural gas storage capacity downward by over 20 percent in an accounting move that did not reflect any physical change in the amount of storage available.

Bolivia lobbies Chile over gas deal in Lima
By Antonio de la Jara, LIMA, Peru, Nov. 24 (Reuters) Landlocked Bolivia pushed ahead in talks with its Pacific neighbor Chile on the sidelines of a summit in Lima on Saturday over gaining access to its coast and thus to U.S. and Mexican markets for its gas.

Mergers, Acquisitions & Divestitures

Analysts: Dynegy, Enron Merger May Be in Trouble
Nov. 26 (NGI's Daily Gas Price Index) Dynegy Corp. Chairman Chuck Watson said his company is "encouraged" by Enron's success in extending a deadline on a $690 million obligation until mid-December and is "working to accelerate the regulatory approvals required to complete the merger with Enron Corp." in light of the continuing free fall of Enron's stock Wednesday.
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Phillips Petroleum Merger Turns Forecast Cloudy for Bartlesville, Okla.
By Jim Henderson, Houston Chronicle, Nov. 23 Until the mid-1980s, this small northeast Oklahoma community was the quintessential company town -- snug, prosperous and secure -- and there was no reason to believe it would ever be anything else.

UK gives go ahead to Dynegy gas storage deal
LONDON, Nov 23 (Reuters) - Britain said on Friday it would not refer U.S. utility Dynegy's purchase of former monopoly gas storage company BG Storage to the Competition Commission after it received undertakings from Dynegy.

Cartel Office Casts a Critical Glance Over Rwe And E.on Acquisition Plans
Nov 23, 2001 - FT World Media Abstracts via Comtex The German cartel office is currently examining joint venture plans between German energy company RWE AG and the German operations of Anglo-Dutch group Shell, and between German energy group E.ON and the German arm of UK oil group BP.

Drilling/Exploration

Repsol, Hess group find gas, condensate in Indonesia
MADRID, Nov 23 (Reuters) Spanish oil company Repsol YPF on Friday reported a gas and condensate find in Indonesia with a potential to produce 2.5 million cubic meters per day of gas and 3,000 barrels per day of condensate.

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LNG

Pacific LNG to Build Gas Plant
Nov 23, 2001 - South American Business Information The Bolivian government and the Pacific LNG consortium, which is led by Repsol YPF, will select a port located in the southern region of Peru or in the northern region of Chile in order to build a liquefying plant which will process the Bolivian gas so as to allow its transportation to North America.

Pipelines

Ghana: Environmentalists express doubts about west Africa gas pipeline project
Nov 25 - BBC Monitoring Africa - Political Representatives of an environmental group, Friends of the Earth [FOE], from four west African countries involved in the regional gas pipeline project, have questioned its viability.

Pipeline projects flourish
Nov 24 - Tulsa World Tulsa-based Williams Cos. Inc., El Paso Corp. and other domestic energy firms are leading a $2 billion-a-year expansion of natural- gas pipelines in the United States, the biggest since the 1960s.

Rates
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KUB sees 9% natural gas price dip; Official credits lower industrial demand
Nov 23 - News Sentinel KUB customers fearing a repeat of last winter's staggering natural gas prices can relax a little because of a turnaround in supply and demand.

Reliant Energy Arkla Seeks Rate Increase
Nov 24 - The Commercial Appeal Reliant Energy Arkla, the state's largest natural gas company, is seeking a $47 million rate increase.

Oklahoma Natural Gas, State Corporation Commission Drawing Battle Lines
By Rick Robinson, The Daily Oklahoman, Nov. 21 The Oklahoma Corporation Commission on Tuesday decided Oklahoma Natural Gas Co. cannot collect $34.6 million still owed to it from last winter's record gas prices.

General

Int'l Team to Extract Gas from 'Burning Ice'
Nov 23, 2001 - Kyodo News An international team will soon launch the world's first experiment to extract natural gas from the vast deposit of frozen methane lying deep in the ground, project sources said Friday.

Natural gas pipeline ruptures, sparks fires
Nov 24 - Tulsa World A natural gas pipeline ruptured beneath a Grant County road Wednesday afternoon, spawning several grass fires, officials said.

Legal

Pipeline wrangle threatens gas supply
Nov 22 - Dominion A LEGAL wrangle over pipeline use is threatening the future of New Zealand's gas supply.

Financial

Ecogas to Consider Opening Capital
Chile, Nov 23, 2001 (BNamericas.com via COMTEX) -- The owners of Chilean gas distributor Ecogas will consider opening the company's capital to new shareholders in 1H02, company chairman Caspar Sprungli said, newspaper El Diario reported.

Financial - Ratings

Enron avoids junk status, but observers wonder how
By Jonathan Stempel, NEW YORK, Nov 23 (Reuters) It is rare that holding onto investment-grade credit ratings means as much to a company as it does now to beleaguered energy trader Enron Corp., and some observers are wondering why a cut to junk status is taking so long.

International

Duke to import gas to Italy, genco bid seen-paper
MILAN, Nov 24 (Reuters) Duke Energy Corp. is selling gas and electricity into the Italian market via its energy trading business, and could also bid for one of the generating companies to be sold by Enel, Il Sole 24 Ore reported on Saturday.

DONG SEPARATED INTO TWO COMPANY GROUPS
Nov 23, 2001, (Borsen /FT Information via COMTEX) -- Dansk Olie og Naturgas (DONG), the Danish state-owned oil and gas company, is to separate its operations into two company units.

Rio Negro Court Suspends Rate Hike
Argentina, Nov 23, 2001 (BNamericas.com via COMTEX) -- The High Court of Argentina's Rio Negro province has ordered gas distributor Camuzzi Gas del Sur to suspend a gas rates hike, local press reported.

Thyssengas opens network to Norway's Marathon after EU probe
Nov 23 - AFX Thyssengas Gnbh has pledged to grant improved access to its continental gas pipeline network to Norwegian gas producer Marathon, the Europeam Commission said.

Boom for Russia's Gas-Export Pipelines
Nov 24, 2001 - The Russia Journal A growing European gas deficit combined with the continent's desire to diversify its supply sources has stimulated a boom in export pipeline development.

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