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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    FRIDAY, JANUARY 18, 2002  	


 	   THIS ISSUE BROUGHT TO YOU BY       Gain exposure to thousands of energy professionals with your company's white papers today. Energy Central, the industry's most comprehensive on-line information resource is gathering white papers for inclusion the newest section of its Research Report Center. Don't be left out - to learn how to submit your white papers, e-mail mjohnson@energycentral.com. http://www.energycentral.com/sections/research /        TOP STORIES     Enron collapse could affect China gas pipeline  BEIJING, Jan 17 (Reuters) The collapse of U.S. energy trader Enron Corp has thrown into question funding for a $400 million natural gas pipeline project in China which was billed as the first joint venture of its kind.     NYC suburb launches attack to block Canada gas line  NEW YORK, Jan 17 (Reuters) Westchester County, an affluent suburban area north of New York City, vowed on Thursday to use every political and legal weapon in its arsenal to block a $700 million pipeline that would carry natural gas from Canada to the New York region.     Weak Rivalry, Delinquent Consumers Keep Natural Gas Prices High in Georgia  By Matthew C. Quinn, The Atlanta Journal-Constitution, Jan. 17 Consumers who don't pay their bills account for about 12 percent of monthly natural gas bills for those who do pay, according to research prepared for the Georgia Public Service Commission.      Press Release      LODESTAR Corporation to Provide Billing Capabilities to Georgia System Operations Corporation  PEABODY, Mass., January 16, 2002 LODESTAR Corporation, the world's leading provider of software solutions for energy companies, today announced that Georgia System Operations Corporation (GSOC) will use LODESTAR's BillingExpert? software solution to manage interval data and price, calculate imbalances, perform energy settlement, and present trading partners information to meet the new billing demands in the energy marketplace.      California Crisis      CPUC Says Power Authority Should Not Invest in Gas Lines or Storage  Jan. 17 (California Energy Markets) The California Public Utilities Commission believes that existing and planned natural gas infrastructure improvements will be more than sufficient to meet state needs through 2006 and that the California Power Authority should not make any investments in gas delivery or storage facilities. Special Offer from this Publisher!           ADVERTISEMENT    Gain the competitive intelligence you need to make informed business decisions. Energy Central's Operating Plant Experience Code (OPEC) is a must for all aspects of analyzing nuclear power plant performance. Identify causes of poor performance, compare lost generation trends, and set performance criteria! Free trial - visit http://www.energycentral.com/sections/databases/OPEC          National Energy Policy      White House to move ahead on energy plan with directives  CHICAGO, Jan 17 (Reuters) Faced with a Senate impasse over legislation to boost U.S. energy production, the Bush administration will turn to executive orders to push forward its agenda, a senior Energy Department official said on Thursday.      White House dismisses report it favored Enron  WASHINGTON, Jan 17 (Reuters) - The White House on Thursday denied its energy plan had been crafted to benefit Enron Corp., President George W. Bush's biggest political patron, calling a senior Democrat's report on the matter a "waste of taxpayers' money."      Bush enlists US unions in push for energy plan  By Patricia Wilson, WASHINGTON, Jan 17 (Reuters) U.S. President George W. Bush enlisted labor leaders on Thursday to press Democratic allies in the Senate to approve oil drilling in an Alaskan wildlife refuge, saying his energy plan would create jobs.      Competition & Deregulation    For reports and related information on this topic visit our Data Center   [IMAGE]    TXU sets up Oncor, regulated energy delivery unit  DALLAS, Jan 17 (Reuters) TXU Corp. said on Thursday it had set up a new unit called Oncor to operate and maintain its electricity and natural gas delivery infrastructure in Texas as part of the state's move to deregulate electricity.      EU sets July 1 deadline for France to embrace gas, electricity liberalization   BRUSSELS, Belgium, Jan 17, 2002 (AP WorldStream via COMTEX) -- The European Union's executive Commission Thursday set a July 1 deadline for France to endorse a liberalization of the gas and electricity markets, a key part of efforts to make the EU economy more competitive.      Legislation/Regulation      Fired Enron Auditor Deflects Blame   By MARCY GORDON AP Business Writer, WASHINGTON, Jan 17, 2002 (AP Online via COMTEX) -- The auditor fired for destroying documents in the Enron Corp. affair is laying the blame squarely on his accounting firm, Arthur Andersen LLP, telling congressional investigators he was just following advice from its lawyers.      US SEC's Pitt proposes post-Enron accounting boss  WASHINGTON, Jan 17 (Reuters) - U.S. Securities and Exchange Commission Chairman Harvey Pitt on Thursday proposed a tougher governing body for accountants to help prevent future financial debacles like Enron Corp.'s collapse.      Sen. Mulls Removal from Enron Probe   By MARCY GORDON AP Business Writer, WASHINGTON, Jan 17, 2002 (AP Online via COMTEX) -- Because Enron's political reach was so wide, it is becoming difficult to find government officials without connections as federal law enforcement agencies and Congress pursue investigations of the collapsed energy-trading giant.      Enron settles with FCC over license transfers  WASHINGTON, Jan 16 (Reuters) Fallen energy giant Enron Corp. has agreed to pay $7,500 to settle charges that the company failed to seek proper approval for the transfer of wireless licenses to various entities, U.S. telecommunications regulators said on Wednesday.      FACTBOX-US committees, agencies in Enron investigation  NEW YORK, Jan 17 (Reuters) Eight U.S. congressional committees and three federal agencies are probing various aspects of Enron and its collapse.      Gas Pricing/Hubs      Canadian natgas rises slightly behind U.S. prices  CALGARY, Alberta, Jan 17 (Reuters) Spot natural gas prices in Canada edged up slightly on Thursday because of stronger U.S. physicals early in the day, industry sources said.      NYMEX Hub gas ends lower on technical selloff  NEW YORK, Jan 17 (Reuters) NYMEX Hub gas ended lower Thursday despite a firmer physical market, pressured by bearish fundamentals and some technical selling after an early attempt to move higher stalled, industry sources said.      U.S. spot natgas makes slight gains on weather  SAN FRANCISCO, Jan 17 (Reuters) U.S. day-ahead natgas made slight gains on Thursday, firming on moderate weather-related demand as dealers reported seeing increased selling from gas storage ahead of mild weather forecasts next week, when cash prices are likely to retrace.      Drilling/Exploration      Marathon abandons two Gulf of Mexico wells  HOUSTON, Jan. 16 , Jan 16 (Reuters) Marathon Oil Co. said Wednesday two exploratory wells it drilled in the deep waters of the U.S. Gulf of Mexico failed to uncover any oil or natural gas.      Judge Lifts Order Blocking Oil Drilling   PITTSBURGH, Jan 16, 2002 (AP Online via COMTEX) -- A judge Wednesday lifted an order blocking a 71-well oil and gas drilling project in the Allegheny National Forest, saying environmentalists have not yet shown the wells would harm the forest.      Jordan to endorse new exploration for gas in Risheh  Jan 16 - Middle East News Online The government is expected soon to endorse a decision to start exploring for gas in Risheh field's untapped area, sources in the energy sector said on Tuesday.      Futures      February Futures Shed Length Acquired on Wednesday's AGA Run  Jan. 17 (Btu's Daily Gas Wire) In an "impressive sell-off," February natural gas futures settled down 14 cents at $2.254 as the length that was acquired in Wednesday's trading was liquidated today. Special Offer from this Publisher!       Natural gas higher on encouraging AGA draw   Jan 17, 2002 (TradeSignals via COMTEX) -- Natural gas futures ended Wednesday's session higher as fund buying support underpinned trade.      Pipelines      "Over-the-top" Arctic pipeline seeks support  CALGARY, Alberta, Jan 16 (Reuters) - Executives behind an ambitious plan for a C$12.5 billion ($7.8 billion) pipeline to tap both Alaska and northern Canada natural gas filed details with regulators on Wednesday while admitting they lacked key support from major producers, governments and native groups.      Phillips optimistic about Alaska gas pipeline  ANCHORAGE, Alaska, Jan. 16 (Reuters) - Phillips Petroleum will seek permits to build a pipeline to ship natural gas from Alaska's North Slope to Lower 48 markets, as long as Congress acts this year to aid the project, a company representative told state lawmakers in Juneau on Wednesday.      Arctigas files preliminary application for a $12-billion gas pipeline   JAMES STEVENSON, CALGARY, Jan 16, 2002 (The Canadian Press via COMTEX) -- A little-known company called ArctiGas Resources wants to bridge the political quagmire of two competing natural gas pipeline projects, with a plan for a shorter $12-billion line that will access massive reserves in both the Northwest Territories and Alaska.      Bg to Start Action to Use Pipeline  Jan 17, 2002 - South American Business Information The Brazilian BG, the arm of British Gas, can start an action to resume the transport of 2mil m3 of natural gas through the pipeline Bolivia - Brasil, to meet the demand of Comgas at Sao Paulo state.      Poland set to finance gas pipeline to Europe, says Russian source  Jan 16 - BBC Monitoring Former Soviet Union 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 on Wednesday [16 January].      General      Most Texas Politicians Plan to Keep Enron Money  By Armando Villafranca, Houston, Jan. 17 Enron Corp. has been a generous benefactor to Texas politicians and most intend to keep the money, despite the company's collapse that cost 4,500 people their jobs and many more their retirement savings.      Northern Indiana Utility to Close Five Service Hubs, Eliminate Jobs  By Keith Benman, South Bend Tribune, Ind., Jan. 17 The Northern Indiana Public Service Co. will close five of its 12 service hubs in Northern Indiana and eliminate jobs among the lineworkers and others who staff them.      Enron, Andersen Tightly Entangled; Experts Question Links between Two Firms  By Robert Manor, Chicago Tribune, Jan. 17 Accounting giant Andersen and collapsed power trader Enron Corp. share a long and now uncomfortably close relationship that begins--but certainly doesn't end--with a procession of executives who moved from the auditing firm to occupy top posts at Enron.      New rules to encourage Canada coalbed methane wells  VICTORIA, British Columbia, Jan 16 (Reuters) British Columbia moved to encourage development of its estimated 90 trillion cubic feet of coalbed methane reserves on Wednesday, reducing royalty charges and offering drilling incentives.      Most Lawmakers Lost Money on Enron   By DAVID PACE Associated Press Writer, WASHINGTON, Jan 17, 2002 (AP Online via COMTEX) -- Six months before Enron Corp.'s collapse, California Rep. Jane Harman unloaded more than $250,000 in the company's stock when it was still trading in the $50 range.      Enron's auditor has financial ties of its own to lawmakers, Bush administration  By CHRISTOPHER NEWTON Associated Press Writer, WASHINGTON, Jan 17, 2002 (AP WorldStream via COMTEX) -- Auditing giant Arthur Andersen, which faces federal investigations into the destruction of Enron documents, has given large contributions to the Bush administration and lawmakers playing key roles in the inquiry, according to a government watchdog group.      Memo: Andersen Raised Concerns in Feb.   By MARCY GORDON AP Business Writer, WASHINGTON, Jan 17, 2002 (AP Online via COMTEX) -- Senior managers at Arthur Andersen raised concerns about Enron Corp.'s accounting practices last February and considered dropping the energy company as a client, according to an accounting firm memo uncovered by congressional investigators.      Enron's Chief Executive to Part with Aspen, Colo., Homes  By Nancy Lofholm, The Denver Post, Jan. 17 Three weeks before Enron Corp. filed for bankruptcy, for-sale signs went up on two typically plush Aspen mansions and an undeveloped lot with a prized view of Aspen Mountain.      Enron Workers Net Profits though Sales of Company Trinkets on eBay  By Daniel J. Vargas, Houston Chronicle, Jan. 17 Newsflash: Enron is turning a profit.      Oklahoma Governor to Meet with Conoco Chief Executive  By Rick Robinson, The Daily Oklahoman, Jan. 16 It's been nearly two months since Phillips Petroleum Co. announced it would acquire Conoco Inc. and move its headquarters to Houston, but efforts to alter that plan are still alive in Oklahoma.      Enron Sells Company Plants   By KRISTEN HAYS Associated Press Writer, HOUSTON, Jan 16, 2002 (AP Online via COMTEX) -- Despite its bankruptcy and layoffs, Enron Corp. offered its remaining Houston employees a bounty of botanical bargains Wednesday.      Deals/Contracts      Despite Worry, Houston City Council Approves Contract with Arthur Andersen  By Matt Schwartz, Houston Chronicle, Jan. 17 City Council approved a $200,000 contract with Arthur Andersen on Wednesday despite concerns from two council members about the consulting firm's involvement in the collapse of Enron Corp.      Costain in $86 mln deal to build gas plant  LONDON, Jan 17 (Reuters) Costain Group Plc said on Thursday it had won a 60 million pound ($86 million) contract with Burlington Resources Inc to build a gas compression and treatment plant in Barrow-in-Furness, northwest England.      Legal      Houston Teachers Group Joins Legal Fray over Enron  Houston Chronicle, Jan. 17 The Houston Federation of Teachers, with 675 members who say $30 million in pension funds was invested in Enron Corp. stock, filed an amended lawsuit Wednesday asking a court to order that no further Enron documents be destroyed.      People      Fired Andersen Auditor Worked Closely with Enron Chief  Fort Worth Star-Telegram, Texas, Jan. 17 Before he was fired for destroying documents related to the country's biggest bankruptcy case, Arthur Andersen auditor David Duncan stayed out of his firm's spotlight, but frequently worked shoulder to shoulder with Enron Chairman Kenneth Lay in visible civic endeavors.      Enron Executive Who Wrote Memo Draws Media Notice  By Bill Murphy, Houston Chronicle, Jan. 17 Sherron Smith Watkins is described as a "very hard worker" and "a very direct person."      Ex-Lieberman Aide Lobbied For Enron   By LARRY MARGASAK Associated Press Writer, WASHINGTON, Jan 16, 2002 (AP Online via COMTEX) -- Sen. Joseph Lieberman's former top aide, working as an Enron lobbyist, met three times with the senator's staff and tried unsuccessfully to arrange a meeting between Enron's chairman and Lieberman - now leading an investigation of the failed energy company.      Larry Thompson Heading Enron Inquiry   By RON KAMPEAS Associated Press Writer, WASHINGTON, Jan 17, 2002 (AP Online via COMTEX) -- When it comes to white-collar crime, the deputy attorney general has argued both sides: In the 1980s, then-U.S. attorney Larry Thompson jailed fraudsters; in the 1990s, pricey private lawyer Larry Thompson sought to overturn fraud convictions.      Financial      Critics Caution against Cozy Auditor-Client Ties  By Laura Goldberg, Houston Chronicle, Jan. 17 The relationship between Enron Corp. and auditor Arthur Andersen provides a vivid picture of the perils accounting critics see when the relationship between auditor and client become too tight.      Progress Energy sees closing stock price in error  RALEIGH, N.C., Jan 16 (Reuters) Progress Energy Corp. said it believes an error may have contributed to a $5 per share discrepancy between the closing price of its stock on the New York Stock Exchange Wednesday and the price of its shares in the after hours market.      Citigroup sheds light on Enron, Argentina exposure  NEW YORK, Jan 17 (Reuters) Citigroup Inc., one of Enron Corp.'s top lenders, on Thursday broke its silence and said it has about $650 million in secured loans to the bankrupt energy trader, plus unsecured debts and short-term financing, after taking a fourth-quarter hit for the former energy giant.      N.M. Funds Took $54.5 Million Enron Bath  Jan 17 - Albuquerque Journal Four of New Mexico's largest investment funds lost almost $55 million because of the Enron Corp. bankruptcy filing last month, according to fund managers.      Dynegy Announces Additional Share Purchase by ChevronTexaco  HOUSTON--(BUSINESS WIRE)--Jan. 17, 2002 Dynegy Inc. today announced that ChevronTexaco will exercise its pre-emptive right to retain its proportionate 26.5 percent common stock ownership interest in the company.      Financial - Results      Kinder Morgan quarterly net income rises  NEW YORK, Jan 17 (Reuters) - Pipeline operator Kinder Morgan Inc. said on Thursday fourth-quarter net income rose 30 percent on stronger transportation earnings as well as higher earnings from its retail operations.      International      Statoil says swaps offshore stakes with ExxonMobil  OSLO, Jan 17 (Reuters) Norwegian energy company Statoil said on Thursday that it had obtained new production licences in the Barents Sea after swapping some of its interests on the Norwegian continental shelf with ExxonMobil.      Macau to build natural-gas facilities   China, Jan 16, 2002 (ChinaOnline via COMTEX) -- Macau will build natural-gas pipelines and storage facilities, whose initial cost is estimated at US$100 million, to provide an alternative energy source to residents.      Enron Down but Not Out Overseas   By BRUCE STANLEY AP Business Writer, LONDON, Jan 17, 2002 (AP Online via COMTEX) -- Knocked out but not yet dead, Enron Corp. remains a potential player in Europe's commodities trading business, and many of its overseas power plants and other projects continue to hum.      UK energy customers paying 120 mln stg a year for competition - MPs  Jan 16 - AFX Electricity and gas customers are paying an extra 120 mln stg for the cost of companies modifying their systems to support the introduction of competition in the market, a select committee report has found.        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