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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    WEDNESDAY, FEBRUARY 6, 2002  	


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Complete table of contents and profile samples are available at http://www.energycentral.com/links/show_mi.cfm?id=100837         TOP STORIES     Recent Talks on Alaska Gas-Pipeline Project Were Successful, Leaders Say  By Liz Ruskin, Anchorage Daily News, Alaska, Feb. 5 Alaska's natural gas producers met here Monday with U.S. and Canadian pipeline companies, and while they're not much closer to building a line to move North Slope gas, political leaders who attended declared the event a success.     Kinder Morgan affirms guidance, ups share buyback  HOUSTON, Feb 5 (Reuters) Energy company Kinder Morgan Inc. on Tuesday said it was comfortable with the low end of its 2002 earnings per share guidance and increased the value of its share buyback program.     FEATURE-Myanmar: a niche gas producer?  By Godwin Chellam, SINGAPORE, Feb 5 (Reuters) Myanmar's success in finding oil and gas has been patchy with more misses than hits in the 12 years since it rolled out the welcome mat for foreign explorers.      Enron Debacle      Enron's Lay will accept subpoenas   By T.K. MALOY AND SCOTT BURNELL, WASHINGTON, Feb 05, 2002 (United Press International via COMTEX) -- A lawyer for former Enron Chairman Kenneth Lay said Tuesday his client will accept congressional subpoenas after earlier questions concerning his whereabouts, a spokeswoman for the House Financial Services Committee said.      Former Enron Accountant Says Worker-Benefits Funds Were Spent Elsewhere  By Kristen Mack, Houston Chronicle, Feb. 5 A former senior accountant at Enron told CBS News that the company took at least $15 million from legally protected worker-benefits accounts and spent it elsewhere.      Dynegy Lawyer Says Enron Only Has Itself to Blame  By Bill Murphy, Houston Chronicle, Feb. 5 Enron has only itself to blame for going bankrupt after Dynegy called off a proposed merger in December, Dynegy's lawyer said Monday.      Chair of Enron Board's Investigative Group Says Findings `Appalling'  By Patrice Hill, The Washington Times, Feb. 5 Emerging evidence of Enron's "systematic and pervasive attempt" to misrepresent its financial condition rattled stock investors yesterday and evoked pledges of swift enforcement and stepped-up regulation on Capitol Hill.      Andersen CEO says Enron panel rebuffed auditor input  WASHINGTON, Feb 5 (Reuters) - An Enron Corp. special board committee probing the energy trader's collapse ignored efforts by the company's long-time auditor Andersen to tell its side of the story, the chief executive of the Big Five accounting firm said on Tuesday.      Former Enron CEO Lay Was Smart to Back Out of Testifying, Experts Say  By Michelle Mittelstadt, The Dallas Morning News, Feb. 5 Former Enron chief executive Kenneth Lay's eleventh-hour decision to cancel a long-promised congressional appearance Monday drew a torrent of media attention, criticism from key politicians and the pledge of a Senate subpoena.      Former Chairman Steps Down from Enron's Board of Directors  By Julie Mason, Houston Chronicle, Feb. 5 Former Enron Corp. Chairman Ken Lay resigned from the company's board of directors Monday, as irate lawmakers prepared subpoenas that would force him to appear on Capitol Hill.      Former Enron Workers Who Traveled to Washington, D.C., Irked at Lay's No-Show  By Patty Reinert, Houston Chronicle, Feb. 5 Laid-off Enron Corp. workers, who traveled to Washington in hopes of confronting Ken Lay, said they were angry Monday that their former chairman backed out of his promise to testify before Congress.      Critics Say Enron Report Lets Board Off Too Easy  Chicago Tribune, Feb. 5 The report commissioned by Enron Corp.'s board on the company's stunning collapse castigates the company's auditors and former managers, but its more benign tone toward the board itself is drawing criticism from outside observers.      Legal Experts Worry Government Investigations of Enron Will Collide  By Naftali Bendavid, Chicago Tribune, Feb. 5 Former Enron Corp. Chairman Kenneth Lay's decision to cancel an appearance before Congress this week, after lawmakers publicly speculated about his criminal guilt, highlights a growing concern of legal analysts: The investigations of Enron by Congress and the Justice Department are beginning to collide.      FACTBOX-Congress hearings schedule on Enron/Andersen  WASHINGTON, Feb 4 (Reuters) The following are the hearings that the U.S. Congress has firmly scheduled on the collapse of Enron Corp., the role of its auditor Andersen, and related regulatory issues over the coming weeks. Latest information added is marked with *.      Enron board to put accounting execs on leave-WSJ  NEW YORK, Feb 5 (Reuters) - Enron Corp.'s board is expected to put the company's two top accounting officers on administrative leave this week in response to an internal report that says neither did his job adequately, The Wall Street Journal's online edition reported on Tuesday.      Enron Probe Author Connected to Co.   By KRISTEN HAYS Associated Press Writer, HOUSTON, Feb 05, 2002 (AP Online via COMTEX) -- Appointed to Enron's board in October to investigate the company's accounting practices, William C. Powers Jr. knew he would be accused of having a conflict of interest.      Bush rejects idea of special counsel for Enron   PITTSBURGH, Feb 05, 2002 (AFX-Asia via COMTEX) -- President George W. Bush has rejected the idea of naming a special counsel to investigate links between his administration and bankrupt energy firm Enron.      Enron winds up mainland operations  Feb 05 - South China Morning Post Enron is winding up its China operations, with foreign and domestic firms competing for its controlling share of a major power station in the southwest city of Chengdu.      Experts Say Enron Debacle to Bring Major Changes to Accounting Industry  By Wayne Heilman, The Gazette, Colorado Springs, Colo., Feb. 4 The collapse of Enron Corp. will result in major changes in the accounting industry and the relationship between accounting firms, their consultancies and their clients.      Treasury's O'Neill-need more CEO accountability  WASHINGTON, Feb 5 (Reuters) Treasury Secretary Paul O'Neill, speaking as the Enron scandal unfolds, said on Tuesday the Bush administration would push for more accountability from corporate chieftains in a planned revamp of business disclosure requirements.      Lawyers suing Enron criticize shortcomings of internal probe  BRAD FOSS, HOUSTON, Feb 04, 2002 (The Canadian Press via COMTEX) -- While an internal investigation at Enron Corp. has supplied a roadmap for some complex tactics used to hide debt and inflate profits, it leaves uncharted a maze of other activities and lines of responsibility.      Tauzin calls Enron report 'devastating'   WASHINGTON, Feb 05, 2002 (United Press International via COMTEX) -- The chairman of the House Energy Cmmittee said Tuesday that an internal Enron report "painted a devastating picture" of the company's management.      Ministers deny Enron links were improper  Feb 04 - Evening Standard - London SENIOR ministers and other leading public figures have rushed to distance themselves from US energy giant Enron in the continuing fallout from the company's pounds 55 billion collapse.      George Washington U. alum figures prominently in Enron investigation   By Patrick Higgins, WASHINGTON, Feb 04, 2002 (The GW Hatchet, U-WIRE via COMTEX) -- Although several major news organizations have included a teaching stint at George Washington University in former Enron Corp. CEO Kenneth Lay's background, no record of him as a professor exists at the University.      Astros Want to Drop Enron Field Name  HOUSTON, Feb 05, 2002 (AP Online via COMTEX) -- The Houston Astros want to shed the name of Enron Field.      Mergers, Acquisitions & Divestitures      Tulsa, Okla.-Based Energy Company Might Sell Assets to Keep Credit Rating  By Russell Ray, Tulsa World, Okla., Feb. 5 After learning that its credit rating may be lowered, Williams Cos. Inc. said Monday it is prepared to sell more assets and shares to retain its investment-grade rating.      Analysis: EnCana merger to be player   By E.W. KIECKHEFER, United Press International, Feb 05, 2002 (United Press International via COMTEX) -- The announced plan to merge PanCanadian Energy and Alberta Energy Co. is being billed as the creation of one of the world's biggest independent oil and gas companies, opening the way for the new entity to become a major player.      Divestiture Dynamics: Wholesale Focus, Efforts to Strengthen Balance Sheets Represent Growing Trend  By Will McNamara, IssueAlert, Feb. 5 (Scientech) Victorian electricity retailer and network company CitiPower is set to be sold by trade sale or initial public offering later this year following American Electric Power's decision to divest the asset. Special Offer from this Publisher!           ADVERTISEMENT    Data on nuclear power plant performance available now! Energy Central's Operating Plant Experience Code (OPEC) allows you to analyze nuclear power plant performance, identify trends of lost generation and causes of poor performance. Download your free trial version today at http://www.energycentral.com/sections/databases/OPEC .         Gas Pricing/Hubs      Canadian natgas spot prices mixed, west declines  CALGARY, Alberta, Feb 5 (Reuters) Spot natural gas prices across Canada were mixed on Tuesday in moderate activity, tight trading ranges and warm weather, industry sources said.      NYMEX Hub gas ends mixed, fronts lose despite cold  NEW YORK, Feb 5 (Reuters) NYMEX Hub gas ended mixed Tuesday despite frigid temperatures in the Northeast, hit by moderate weather forecasts for next week and technical selling when an early attempt to move higher stalled, sources said.      Natural Gas Spot Values Mixed on Weather, Supplies  Feb. 5 (Btu's Daily Gas Wire) The physical natural gas market was mixed today as pipeline constraints and regional weather influenced regional prices. Special Offer from this Publisher!       Cold weather extends U.S. spot natural gas gains  SAN FRANCISCO, Feb 5 (Reuters) U.S. day-ahead natural gas prices got a slight lift on most pipelines Tuesday, as cold weather kicked up energy demand in many parts of the nation.      Production      PanCanadian flying high with Buzzard oil well  CALGARY, Alberta, Feb 5 (Reuters) PanCanadian Energy Corp., Canada's top producer now in the process of completing a C$27-billion ($17 billion) merger with Alberta Energy Co. Ltd., said on Tuesday a well from its highly regarded North Sea oil discovery flowed 11,100 barrels per day.      ExxonMobil begins oil production at Larut field, South China Sea   KUALA LUMPUR, Feb 05, 2002 (AFX-Asia via COMTEX) -- ExxonMobil Exploration and Production Malaysia Inc said it has begun oil production at its Larut field in the South China Sea.      Drilling/Exploration      Bush's Budget Portends a New Fight over Oil Drilling in Arctic Wildlife Refuge  By Beth Daley, The Boston Globe, Feb. 5 President Bush's proposed budget renews his call for oil exploration in the Arctic National Wildlife Refuge, promising a second year of bitter confrontation with environmentalists.      Daschle says has votes to block Arctic oil drilling  Tom Doggett, WASHINGTON, Feb 5 (Reuters) Senate Majority Leader Tom Daschle said on Tuesday he has the votes necessary to block Republicans from adding language to a broad energy policy that would allow oil drilling in the Arctic National Wildlife Refuge.      LNG      BP has potential US$10bn outlay on LNG projects  By Tony Gray, Jan 29, 2002 (Lloyd's List Daily Commercial News - ABIX via COMTEX) -- BP Amoco will spend $A10bn on various liquefied natural gas (LNG) projects around the world if all of its proposals reach fruition.      Pipelines      PetroChina/Shell 18 bln usd gas pipeline to go ahead   HONG KONG, Feb 05, 2002 (AFX-Europe via COMTEX) -- PetroChina Co Ltd said its feasibility study on the 18 bln usd 4,000 km west to east gas pipeline project has been approved by the Chinese government.      Gazprom's Fyodorov says Polish pipeline project abandoned  MOSCOW, Feb 05, 2002 (AFX-Europe via COMTEX) -- OAO Gazprom is withdrawing from the planned construction of a pipeline in Poland, intended to join western Europe, because weak gas prices threatened the financing of the project, Gazprom board director Boris Fyodorov said.      Room for a view ?; Pipeline might harm overlook at Hawks Nest  Feb 05 - Sunday Gazette - Mail - Charleston, W.Va. The superintendent of Hawks Nest State Park describes the view from his park as "picturesque.      Transmission      Shortfall Could Delay Area Gas Line; $20 Million Still Needed To Complete Installation  Feb 05 - Virginian - Pilot A $20 million shortfall could delay for years the arrival of natural gas in the southern half of Currituck County and all of Hyde and Tyrrell counties unless officials find a way to cut costs.      General      Pennsylvania Landfill Magnate Paid Nothing for PG Energy's 860 Acres  By Dave Janoski, The Times Leader, Wilkes-Barre, Pa. Feb. 4 One year before PG Energy Inc. sold 40,000 acres of environmentally sensitive land to landfill magnate Louis DeNaples for $12.3 million, the utility transferred 860 similar acres, worth at least $400,000, to a DeNaples company.      Joint Ventures & Alliances      Enterprise Oil, Innogy in gas alliance   LONDON, Feb 05, 2002 (AFX-Europe via COMTEX) -- Enterprise Oil PLC announced it is forming with Innogy PLC a natural gas market alliance in North-West Europe.      Trading/Marketing      AIG, Chubb pay up to $300 mln on Enron gas deal  By Chris Sanders, NEW YORK, Feb 5 (Reuters) Insurers American International Group Inc. and Chubb Corp. have agreed to pay up to $300 million to investors in a gas-buying consortium, power industry sources said, after a unit of bankrupt Enron Corp. failed to keep its side of a delivery contract.      Exchange rivals NYMEX, ICE in alliance talks  By Andrew Mitchell, NEW YORK, Feb 5 (Reuters) Commodity exchange rivals New York Mercantile Exchange and web-based Intercontinental Exchange have reopened talks aimed at an alliance, a source close to the negotiations said on Tuesday.      Power Projects      House Bill Would Tap Southern N.M. Gas Reserve  Feb 05, 2002 - Albuquerque Journal The development of a state-owned power plant -- fired by natural gas from a large, untapped reserve in Otero County -- is being promoted by Rep. Terry Marquardt.      Labor/Human Resources      British Natural Gas Company Reportedly to Announce Job Cuts  By Robert Lea, Evening Standard, London, Feb. 4 Up to 2000 job losses are expected to be announced on Thursday when Lattice Group reveals a major restructuring of its Transco national gas distribution operation.      Environmental      Tulsa, Okla., Companies Settle Colorado Clean-Air Lawsuit  By Robert E. Boczkiewicz, The Daily Oklahoman, Feb. 2 For the second time in a little more than a year, Williams Gas Processing Co. Inc. of Tulsa and a sister company, Williams Field Services Inc., have consented to pay almost $1 million to settle a lawsuit in Colorado filed by the U.S. Environmental Protection Agency.      Financial - Ratings      Moody's to review ratings process   By Rebecca Hewett, Feb 4, 2002 (Investor Weekly - ABIX via COMTEX) -- The demise of Enron has led financial ratings agency, Moody's, to institute a review of its procedures.      Financial - Results      Transocean posts profit after year-earlier loss  HOUSTON, Feb 5 (Reuters) - Transocean Sedco Forex Inc., the world's biggest offshore oil and gas drilling contractor, reported Tuesday a fourth-quarter profit after one-time charges pushed it to a loss in the same period of 2000.      Pioneer Natural posts Q4 loss amid Argentine peso fall  DALLAS, Feb 5 (Reuters) Pioneer Natural Resources Co., an independent oil and gas explorer and developer, on Tuesday reported a fourth-quarter loss as it took charges to cover the devaluation of the Argentine peso.      Ameren earnings rise up over 19 percent  ST. LOUIS, Mo., Feb 5 (Reuters) Midwestern energy merchant Ameren Corp. said on Tuesday fourth-quarter earnings, before unusual items, rose more than 19 percent as increased electricity sales offset weaker prices.      International      Enterprise Oil grasps bid defence nettle  LONDON, Feb 5 (Reuters) - Britain's Enterprise Oil on Tuesday promised long-suffering shareholders a better future, with a cocktail of measures aimed at warding off a potential takeover bid.      US investment body to finance Unocal/Pertamina oil, gas projects in Indonesia   JAKARTA, Feb 04, 2002 (AFX-Asia via COMTEX) -- The Overseas Private Investment Corp (OPIC) said it will provide 350 mln usd to support two offshore oil and gas projects in Indonesia.      Petrobras to acquire Enron' assets   Brazil, Feb 2, 2002 (Jornal do Commercio/SABI via COMTEX) -- The Brazilian state owned oil and gas company Petrobras is planning to lose the control of gas pipeline Gasbol (Gasoduto Bolivia-Brasil) to acquire the shares of the US Enron in CEG and CEGRio.      Russia-Turkey gas project realistic -- minister   By Andrei Palaria, ANKARA, Feb 05, 2002 (Itar-Tass via COMTEX) -- Turkey needs the Blue Stream project of Russia's gas exports, Energy Minister Zeki Cakan said.      Tractebel suspected of financial irregularities  Feb 5, 2002, (Le Monde /FT Information via COMTEX) -- Tractebel, the energy subsidiary of French utilities group Suez, which is active in Belgium and elsewhere, has not only been instructed by the Belgian tax authorities to make the largest back payment of tax in the country's history, but is also being investigated by the courts on suspicion of irregular accounting and using a secret fund, apparently fuelled by offshore companies, to make substantial under-the-table payments to managers.      New management to Ukraine's oil and gas monopoly appointed   KIEV, Ukraine, Feb 05, 2002 (AP WorldStream via COMTEX) -- Ukraine's President Leonid Kuchma fired the head of the country's Naftogaz state oil and gas monopoly and replaced him with an oil magnate, the government press service said Tuesday.      Hungary govt to phase in gas privatization from 2003   BUDAPEST, Feb 05, 2002 (AFX-Europe via COMTEX) -- The government plans to launch the phased privatization of its gas sector from 2003, to bring it in line with EU standards, the economy ministry said.        If you are an Energy Central News Subscriber and you have checked any news articles above, selecting the 'Get Articles' button below will deliver all of the checked articles in one page. This is a convenient way to get exactly the news you need - quickly!           NEED INFORMATION ON THE POWER INDUSTRY? ENERGY CENTRAL'S GOT IT!    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