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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    TUESDAY, JANUARY 22, 2002  	


 	   THIS ISSUE BROUGHT TO YOU BY       Skyrocketing prices, reliability worries and environmental concerns have increased current demand for distributed energy resource projects and services. The Guidebook of Funds and Incentives for Distributed Energy Resources from EFI, provides a comprehensive listing and description of more than 200 federal and state government programs. Leverage them to reduce the cost and increase the value of your distributed energy resource projects. Each inclusive program detail includes background and purpose, description, contact information, and more, also in tabular format. See more info on this valuable resource at http://www.energycentral.com/links/show_mi.cfm?id=100416         TOP STORIES     Oil Search in A$1.4 bln Orogen merger  SYDNEY, Jan 21 (Reuters) - Oil and gas producer Oil Search Ltd unveiled a A$1.4 billion merger offer on Monday for Papua New Guinea's Orogen Minerals Ltd as it seeks to raise its stake in the region's major oil and gas projects.     PanCanadian cuts 2002 spending  CALGARY, Alberta, Jan 21 (Reuters) - PanCanadian Energy Corp. said on Monday it will cut spending by 13 percent in 2002 as the country's top oil explorer and producer joined many of its rivals in expectation of lower oil and gas prices.     Shell, Exxon eyeing Korea gas assets  SEOUL, Jan 21 (Reuters) Royal Dutch/Shell and Exxon Mobile Corp have expressed interest in gas assets South Korea plans to privatise, an official of the Commerce, Industry and Energy Ministry said on Monday.      Press Release      KWI Adds Washington State's Leading Energy Utility to its North America Client List  HOUSTON (January 21, 2002) KWI, a global company specializing in trading and risk management software for energy companies, has been awarded a contract to supply the kW3000? system to Puget Sound Energy, for complete front-to-back-office trading, risk management and invoice settlement.      Competition & Deregulation    For reports and related information on this topic visit our Data Center   [IMAGE]    Peoples Energy To Join Dominion In Marketing  Jan 21 - Richmond Times - Dispatch Peoples Energy Corp., the owner of Chicago's natural gas utility, is joining with Dominion Resources Inc. to market gas and electricity services to nearly 3 million customers in Chicago and northern Illinois.          ADVERTISEMENT    ENERGIZE YOUR CAREER - The Energy Central Job Center has a new look, new features, premier employers and is updated daily! Visit the energy industry's largest on-line job center today: http://www.energycentral.com/sections/jobs          Mergers, Acquisitions & Divestitures      Belgium's Tractebel eyes Korea, China  BANGKOK, Jan 21 (Reuters) - Belgium's Tractebel, part of French utility Suez Lyonnais, said on Monday it had submitted a bid for Enron Corp's stake in a South Korean gas distributor and was looking to enter China's energy market.      German regulator confirms ruling against E.On acquisition of Ruhrgas   By DAVID McHUGH AP Business Writer, FRANKFURT, Germany, Jan 21, 2002 (AP WorldStream via COMTEX) -- Germany's antitrust regulator said Monday it had ruled against utility giant E.On AG's acquisition of the country's main natural gas distributor, stalling a drive E.On says would create a German powerhouse in global energy markets.      RWE could save stalled CEZ sale   By Hana Lesenarova, Jan 21, 2002 (New World Publishing via COMTEX) -- The government may have found a new savior for its derailed sale of the country's dominant energy producer CEZ whose tender was cancelled after Electricite de France (EDF) and the consortium of Italian Enel and Spanish Iberdrola failed to fulfill its demanding conditions and pay the asking price of Kc 200 billion for the package.      Shell Offloads Tejac Gas Project   Mexico, Jan 21, 2002 (BNamericas.com via COMTEX) -- Anglo Dutch oil company Shell has sold its Tejac Gas de Toluca pipeline project to Gas Natural Mexico and a group of Texan investors, local paper El Financiero reported, adding that the deal was put together in November and awaits regulatory approval.      French eye Seeboard auction  Jan 21 - The Daily Telegraph AMERICAN Electric Power, the Ohio-based energy trader, is expected to restart the bidding for Seeboard, its British gas and electricity supplier, within the next few weeks.      British Gas to bid again for Enron's stake in Indian oil, gas fields  Jan 21 - BBC Monitoring South Asia Britain's oil and gas major BG Group plc Monday [21 January] said that it would finalize a new bid shortly for acquiring 30 per cent stake of bankrupt energy trader Enron Corp in Panna-Mukta and Tapti oil and gas fields.      Legislation/Regulation      Chairman's Resignation Puts Role of Texas Utility Regulatory Agency in Focus  The Dallas Morning News, Jan. 19 After six years of relatively smooth sailing, the Texas Public Utility Commission again finds itself in choppy, political waters.      Enron Issues Appear Likely to Affect Major Legislation  The Boston Globe, Jan. 20 Questions about Enron's political influence and complaints from employees whose pensions have been ravaged by the energy company's failure have not only triggered a string of congressional investigations, but also could influence the fate of major legislation this year.      Enron Was Big Player in Texas   By KELLEY SHANNON Associated Press Writer, AUSTIN, Texas, Jan 20, 2002 (AP Online via COMTEX) -- In the company's high-flying days, Enron Corp. employees and their political action committee stuffed the campaign coffers of Texas state officials in nearly every top post, from the governor to justices on the highest civil court.      Bush Advisers Worry Over Enron Scandal  By RON FOURNIER, WASHINGTON, Jan 21, 2002 (AP Online via COMTEX) -- President Bush's advisers, fearing the Enron Corp. bankruptcy controversy could divert attention from his second-year agenda, are debating what to do about a political problem they helped create.      Hearing Scheduled in Enron Probe   By PETE YOST Associated Press Writer, WASHINGTON, Jan 21, 2002 (AP Online via COMTEX) -- Vowing to issue subpoenas if necessary in the Enron Corp. affair, a House panel hopes to get the conflicting stories of the company's accounting firm and the auditor it fired for the destruction of thousands of documents.      Auditor: Enron, Accountant Share Blame  By PETE YOST Associated Press Writer, WASHINGTON, Jan 21, 2002 (AP Online via COMTEX) -- A fired auditor has told congressional investigators that Enron and its accounting firm share the blame for the partnership arrangements that helped drive the energy giant into bankruptcy.      SEC's Pitt says US agency cannot police accountants  WASHINGTON, Jan 20 (Reuters) U.S. Securities and Exchange Commission Chairman Harvey Pitt said on Sunday that his agency lacks the money and staff to directly police the accounting industry in the wake of Enron Corp.'s collapse.      LNG      China CNOOC says shortlists three LNG suppliers  SINGAPORE, Jan 21 (Reuters) China National Offshore Oil Corp (CNOOC) said on Monday it had drawn up a shortlist of three potential gas suppliers for China's first liquefied natural gas (LNG) terminal.      Pipelines      Poland confirms financing of Yamal-Europe gas pipeline  Jan 21 - ITAR - TASS News Wire Poland has confirmed its commitment to financing the first unit of the Yamal-Western Europe gas pipeline in the originally expected amount, a source in the Russian presidential delegation visiting Poland told Tass Wednesday.      Algeria: Gas pipeline sabotaged east of Algiers  Jan 20 - BBC Monitoring Middle East It has been learnt from security sources that a gas pipeline linking eastern and central regions of the country was the subject of sabotage on the night of Saturday to Sunday [19-20 January] in Aomar, Bouira Province.      Rates    For more information on rate tariffs visit Gas Rate Tariffs   [IMAGE]    Scottish Power telling customers will lift gas prices by 6.5 pct - sources   LONDON, Jan 21, 2002 (AFX-UK via COMTEX) -- Scottish Power PLC is sending out letters to its 800,000 customers saying they will be increasing gas prices by 6.5 pct from next month, according to industry sources.      General      Arthur Andersen's CEO Defends Accounting Firm, Blames Enron's Business Formula  By Christopher Lee, The Dallas Morning News, Jan. 21 The head of the accounting firm that signed off on Enron Corp.'s books said Sunday that a bad business model -- and not failures by outside auditors -- led to the collapse of the Houston-based energy giant.      Experts Say Memory of Enron Will Last but System Can Overcome Demise  By Angela Shah, The Dallas Morning News, Jan. 20 The details of Enron Corp.'s spectacular demise are still playing out, but the debacle has already become a metaphor for failed bets on the free enterprise system.      Andersen executive says shredding note unprecedented-WSJ  NEW YORK, Jan 21 (Reuters) An executive at Arthur Andersen LLP, the auditing firm used by now-shattered energy trader Enron Corp., told congressional investigators that an e-mail reminder to employees sent by Andersen headquarters was unprecedented, the Wall Street Journal reported on Monday.      Enron Victim of Corporate Meltdown   By JEFF DONN Associated Press Writer, HOUSTON, Jan 20, 2002 (AP Online via COMTEX) -- Several years before the meltdown, something already seemed out of whack to Tom Brigger at Enron's Corp. headquarters here.      Enron Expose Widens, Affects Past, Present U.S., Andersen Officials  Jan. 21 (Utility Spotlight) As federal investigators arrived in town to dig into the Enron scandal last week, the company's practically worthless stock was delisted by the New York Stock Exchange and the nation's biggest bankruptcy mushroomed with serious new allegations involving its Andersen auditor. Special Offer from this Publisher!       Deals/Contracts      Egypt signs contract to sell natural gas to France over 20 years  CAIRO, Egypt, Jan 21, 2002 (AP WorldStream via COMTEX) -- The Egyptian Liquified Natural Gas company signed a contract Monday to supply 3.6 million tons of gas to France for 20 years from 2005.      Legal      Enron Prosecuting Team Will Be Tough to Build  By Michael Hedges, Houston Chronicl, Jan. 20 The sprawling criminal investigation of Enron will be a team effort involving prosecutors from both coasts and Texas, as large numbers of federal lawyers bowed out to avoid conflict of interest charges.      People      Profiles of major figures in Enron saga  WASHINGTON, Jan 21 (Reuters) Following are profiles of some of the major figures involved in the growing political and financial saga revolving around the collapse of energy trading giant Enron Corp., and ensuing criticism of its auditors, accounting giant Andersen.      Aggressive and Driven, Enron Chief Financial Officer Has Many Faces  By David Ivanovich, Houston Chronicle, Jan. 20 After 11 years at Enron, Andrew S. Fastow had good reason to strut.      Enron CEO gave back stock to repay loans  Jan 21 - Milwaukee Journal Sentinel Kenneth L. Lay, the chairman and chief executive officer of the Enron Corp., was forced to repeatedly repay millions of dollars in loans by handing over stock to Enron last year as his various investments declined in value, his lawyer said Sunday.      Labor/Human Resources      Oil-Field Equipment Maker Halliburton Lays Off 105 Duncan, Okla., Workers  By Don Mecoy, The Daily Oklahoman, Jan. 18 Halliburton Co. is laying off 105 workers at its Duncan manufacturing center -- 11 percent of the work force -- because of the sliding oil and gas business.      Ex-Enron Workers Seek Severance Pay   By KRISTEN HAYS Associated Press Writer, HOUSTON, Jan 20, 2002 (AP Online via COMTEX) -- Nearly 200 former Enron Corp. workers have united to demand severance pay from the bankrupt energy giant that abruptly laid them off last month.      Financial      Enron's Collapse May Carry Greater Economic Cost  Jan 20, 2002 - thedailycamera.com The collapse of Enron Corp., so far a political, legal and investor crisis, is now imposing widespread costs on the U.S. economy, according to a range of companies, energy experts and bankers.      Enron's Debts Hit a Variety of Houston Businesses  By Bruce Nichols, The Dallas Morning News, Jan. 21 Compared with the $2 billion Enron Corp. owes Chase Manhattan, the $11,000 that Brown Book Shop is due isn't that big.      Worker Pension Funds Often Trapped in Company Stock  By Janet Kidd Stewart, Chicago Tribune, Jan. 20 Enron. It could happen again.      International      Harrods says in talks to sell stake in Thai blocks  BANGKOK, Jan 21 (Reuters) Harrods Energy (Thailand) said on Monday it was close to finalising talks with two potential buyers of stakes in its four oil and gas exploration blocks in the Gulf of Thailand.      BHP, TotalFinaElf, Conoco bid for Syrian gas fields - report   DAMASCUS, Jan 20, 2002 (AFX-Europe via COMTEX) -- Anglo-Australian oil company BHP Billiton PLC, TotalFinalElf and US firm Conoco are bidding to develop gas fields in the eastern Syrian region of Palmyra, Ath-Thawra newspaper reported Sunday.      Hopa And Interbanca May Acquire Italgas  Jan 20, 2002 - FT World Media Abstracts via Comtex According to Italian newspaper Borsa & Finanza, Italian holding company Hopa and Italian bank Interbanca are about to launch a takeover bid on Italian gas distribution group Italgas at 13 euros per share.      Putin calls for energy alliance with Central Asian gas producers  Jan 21, 2002 - Agence France-Presse Russian President Vladimir Putin called on Monday for the creation of an alliance of gas producers grouping Russia and the ex-Soviet Central Asian states of Turkmenistan, Kazakhstan and Uzbekistan.      Qatar to raise crude production, gas deal with Kuwait in 2002  Jan 21, 2002 - Deutsche Presse-Agentur (dpa) Qatar's crude oil production is set to rise by about 77,000 barrels per day this year, while an agreement to supply Kuwait with natural gas could be signed later this month, the Middle East Economic Survey reported Monday.      Woodside seeks new Shell deal   By Ian Howarth, Jan 22, 2002 (The Australian Financial Review - ABIX via COMTEX) -- The Netherlands-based multinational, Royal Dutch Shell, has made two unsuccessful bids for Australia's Woodside Petroleum.        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