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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    TUESDAY, JANUARY 29, 2002  	


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Protect your company's assets and resources with the essential information in this report. http://www.energycentral.com/links/show_mi.cfm?id=100838         TOP STORIES     AGL chief sees deregulation reform in Georgia  ATLANTA, Jan 28 (Reuters) The chief executive officer of gas distribution company AGL Resources Inc. said on Monday that she expects the Georgia legislature to pass a bill to try to reform the state's deregulated natural gas market.     UK's Centrica buys Enbridge Canada customers  LONDON, Jan 28 (Reuters) - British gas and home services firm Centrica Plc said on Monday it had agreed to buy the home heating services arm of Canada's Enbridge Inc, part of a campaign to capture more North American customers.     Dynegy expected to acquire Enron's largest pipeline this week  Jan 28, 2002 - Associated Press Dynegy Inc., once a prospective savior for Enron Corp., expects to officially acquire one of the fallen energy giant's most prized assets by the end of the week, a spokesman said.      Press Release      City Utilities Of Springfield, MO Enhances Customer Management Flexibility Using SPL WorldGroup Software  Morristown, New Jersey - January 24th, 2002 SPL WorldGroup B.V. (SPL), the leading provider of customer management solutions to the global energy, water and waste management industries, has successfully implemented SPL's customer management software product at City Utilities of Springfield, MO (www.cityutilities.net ). City Utilities is a customer-owned utility that serves approximately 90,000 customers in southwest Missouri with electric power, natural gas and water.      National Energy Policy      Bush digs in for court fight over energy plan  WASHINGTON, Jan 28 (Reuters) - U.S. President George W. Bush dug in on Monday for a court fight with Congress over his refusal to turn over records detailing any involvement by Enron Corp. and other companies in the development of White House energy policy, accusing lawmakers of politicizing the issue.      Cheney Refuses to Release Energy-Plan Documents; GAO May Bring Rare Lawsuit  By Karen Masterson, Houston Chronicle, Jan. 28 In the face of political pressure to comply with congressional investigators, Vice President Dick Cheney said Sunday he will not release internal documents connected to the development of President Bush's energy plan.      Senate panels to up US fuel standard/OK tax breaks  By Tom Doggett, WASHINGTON, Jan 28 (Reuters) Two Senate committees are expected to approve next week a boost in fuel efficiency requirements for U.S. vehicles and billions of dollars in energy tax breaks and incentives, a Senate staffer said on Monday.          ADVERTISEMENT    Online marketplaces are driving an ongoing restructuring of Europe's energy industry, by making energy trading simpler and cheaper. A new report from Datamonitor, Online Energy Trading in Europe, explores the growing volume of trading operations in a liberalized market. http://www.energycentral.com/links/show_mi.cfm?id=100584          Competition & Deregulation    For reports and related information on this topic visit our Data Center   [IMAGE]    Can Deregulation Be Fixed?  Jan 28 - Georgia Trend Lauren "Bubba" McDonald, chairman of the Georgia Public Service Commission, sat down with Georgia Trend's Jennifer Hill to talk about the tumultuous year the state experienced with gas deregulation and its effects and to look ahead to major upcoming issues for 2002.      Mergers, Acquisitions & Divestitures      PanCanadian, AEC merging to create energy giant  CALGARY, Alberta, Jan 27 (Reuters) - PanCanadian Energy Corp. is buying Alberta Energy Co. Ltd. in a share swap to create what they said on Sunday would be the world's No. 1 publicly traded oil and gas exploration and production company, with a stock-market value of C$21.4 billion ($13.3 billion).      PanCanadian, Alberta Energy officials have no interest in third party deals   CALGARY, Jan 27, 2002 (AFX-Asia via COMTEX) -- The two senior officials of PanCanadian Energy Corp and Alberta Energy Company portrayed their deal as a "merger of equals" and said they were not interested in offers from other, including American, companies.      FACTBOX-What a merged PanCanadian-AEC will look like  CALGARY, Alberta, Jan 27 (Reuters) PanCanadian Energy Corp. and Alberta Energy Co. Ltd. said on Sunday they planned to merge, creating the world's biggest independent oil and gas exploration and production company.      Shell backs Woodside bid   By Nigel Wilson, Jan 29, 2002 (The Australian - ABIX via COMTEX) -- Tacit approval of Woodside Petroleum's bid for German Veba Oel was given by Shell Australia on 28 January 2002.      Legislation/Regulation      More Issues Arise at Texas Public Utility Commission  By R.A. Dyer, Fort Worth Star-Telegram, Texas, Jan. 25 Less than one week after the resignation of its chairman, the Texas Public Utility Commission has been hit with new revelations involving possible conflicts of interest and a grand jury investigation.      Gas Pricing/Hubs      Canadian spot natgas mixed as Alberta temps rise  NEW YORK, Jan 28 (Reuters) Spot natural gas prices in Canada were mixed Monday as temperatures in the prairie province of Alberta rose from frigid levels over the weekend, industry sources said.      NYMEX Hub gas ends down on weather, Feb hits new low  NEW YORK, Jan 28 (Reuters) NYMEX Hub gas ended sharply lower Monday in moderate trade, with record storage and fairly mild U.S. weather forecasts this week again pressuring front months to new contract lows, industry sources said.      LITTLE COLD AIR SEEN  Jan. 28 (GasTrader) Earlier suggestions that a mass of cold Canadian air would work its' way south to the major eastern and midwestern energy markets have given way to forecasts calling for a much more modest incursion. Special Offer from this Publisher!       U.S. spot gas firms on weekday demand, Western cold  SAN FRANCISCO, Jan 28 (Reuters) U.S. day-ahead natgas prices made small gains on most pipelines Monday as cold weather in the West ramped up energy use and brought a rare overnight snowfall in the upper elevations near San Francisco.      Futures      Feb Futures Hits Fresh Lows on Mild Weather, Excess Storage  Jan. 28 (Btu's Daily Gas Wire) February natural gas futures settled 12.9 cents lower at $1.908 after plunging 18.5 cents to reach a four-month low for a nearby month and fresh contract low at $1.85. Special Offer from this Publisher!       LNG      TotalFinaElf to Join Pacific LNG  Jan 28, 2002 - South American Business Information TotalFinaElf is to join the consortium Consorcio Pacific LNG to export Bolivian liquified natural gas to Mexico and the US, that already include Repsol YPF (37,5%), British Petroleum (25%), and British Gas (37,5%).      Pipelines      Florida Market Supports Growth of Natural-Gas Pipelines, Despite Uncertainty of Deregulation  By Will McNamara, IssueAlert, Jan. 28 (Scientech) Several natural-gas pipeline projects are in the planning and construction phases to supply Florida with the natural gas it needs, mainly to supply gas-fired electrical power generation projects. Special Offer from this Publisher!       Shanghai Invites Bids for Gas Network   BEIJING, Jan 28, 2002 (Xinhua via COMTEX) -- Shanghai, the leading metropolis in China, will invite foreign investment for the construction of local natural gas pipeline networks as well as distribution stations.      Japanese Banks To Grant $100M Loan To Khabarovsk Region For Laying Gas Pipeline  Khabarovsk, Russia, Jan 28, 2002 (RosBusinessConsulting via COMTEX) -- A number of Japanese banks will grant a $100 million loan to the Khabarovsk Region to continue laying the gas pipeline Komsomolsk-on-Amur-Kabarovsk-Luchegorsk (the Primorsky Region).      Coalition Seeks To Block Natural Gas Pipeline Expansion  Jan 28, 2002 - The News and Observer Area residents hope a countywide coalition will help them block the expansion of a natural gas pipeline they fear will put them in danger and also threaten a rare salamander.      Russia Company to Build Gas Pipelines for China  Jan 25, 2002 - Itar-Tass News Agency Russia's company Vostokgazprom has opened its representative office in China's capital Beijing.      Rates    For more information on rate tariffs visit Gas Rate Tariffs   [IMAGE]    Regulators Order Buffalo, N.Y.-Based Natural Fuel Gas to Issue Refunds  By David Robinson, The Buffalo News, N.Y., Jan. 25 National Fuel Gas customers will get a price break that averages nearly $87 on their February gas bills because state regulators ordered the Buffalo energy company to refund $45.6 million that it overcharged consumers last year.      Mild Winter, Lower Gas Prices Spark Dramatic Drop In Heating Costs  Jan 27 - St. Louis Post - Dispatch A year after some of the highest heating costs in history, most utility customers are enjoying a dramatic drop in their bills this winter - between $300 and $400 for an average home.      General      Remaining Enron Staffers Contemplate Their Future amid Gloom, Fear  By David Kaplan, Houston Chronicle, Jan. 28 Every day, the scandal at Enron brings a new shock, with no letup in sight.      Questions Are in Ready Supply after Enron's Failure  By Bill Deener, The Dallas Morning News, Jan. 27 In its heyday, Enron Corp. traded electricity, natural gas and other commodities with a speed that dazzled its industry and a complexity that baffled Wall Street.      Enron's Cutthroat Culture Is Deplored by Those It Served to Profit  By Claudia Kolker, The Boston Globe, Jan. 27 The Rev. James Nutter first glimpsed what he calls the Enron darkness years ago.      Enron's Survival Remains a Question amid Turbulent Bankruptcy Proceedings  By Eric Berger, Houston Chronicle, Jan. 26 In the largest, most complex bankruptcy ever, with the possibility of criminal acts by the company, one question looms above all others:      Enron Incidents Put Focus on Shredding  By Maureen Fan, San Jose Mercury News, Calif., Jan. 27 Wells Fargo shreds teller trash.      Trading/Marketing      UBS Warburg sees EnronOnLine back up in February  By Scott DiSavino, NEW YORK, Jan 28 (Reuters) UBS Warburg hopes to have a renamed EnronOnLine, the bustling energy trading system once at the center of Enron Corp.'s empire, back on line in February, officials at the investment banking firm said Monday.      Legal      Enron employees file suit over 401(k) losses  HOUSTON, Jan 28 (Reuters) Hundreds of current and former employees of collapsed energy trader Enron Corp. filed a class action lawsuit in Houston seeking damages for losses they suffered by investing in the company's 401(k) plan, lawyers said on Monday.      People      Ex-Enron CEO's wife says they are broke  WASHINGTON, Jan 28 (Reuters) - The wife of ex-Enron CEO Kenneth Lay said on Monday her family lost its fortune when the energy trading giant collapsed and her husband had done "absolutely nothing wrong" in the biggest bankruptcy case in U.S. history.      Wakeham faces British inquiry into Enron role  Jan 27 - The Observer - London LORD Wakeham, the former Tory Energy Secretary who now chairs of the Press Complaints Commission, faces the humiliating prospect of a British inquiry into his role in the Enron scandal.      Citing Distraction of Many Probes, Lay Forced to Resign As Enron Head  Jan. 28 (Utility Spotlight) With FBI agents roaming the halls, hounded by the looming spectacle of a dozen highly publicized congressional hearings, investigations by at least 6 federal agencies, a spiraling number of lawsuits and even a disgusted President Bush, Enron's Ken Lay resigned last week as chairman & CEO of the energy company he created and built into a world-wide powerhouse, only to see it dissolve in a ruinous scandal. Special Offer from this Publisher!       Fullerton, Calif., Congressman Says Enron Donations Will Not Impact Actions  By Dena Bunis, The Orange County Register, Calif., Jan. 25 Rep. Ed Royce says that when he sits in the Financial Services Committee's hearings into Enron, the $3,500 the company's PAC has given him over the past five years will have no effect on his actions.      Labor/Human Resources      UBS to cut 300 jobs at Enron trading unit - paper  FRANKFURT, Jan 28 (Reuters) Swiss bank UBS will cut about 300 of 800 jobs at the energy trading unit purchased from Enron Corp. but plans no additional cuts in the rest of the group, UBS chief Peter Wuffli said in a newspaper interview on Monday.      Financial      Enron Used Partnerships in Speculative Stock Ventures  By Bill Deener, The Dallas Morning News, Jan. 27 Many of the financial sleights of hand that Houston-based Enron Corp. used were accomplished through so-called off-balance-sheet partnerships, accounting experts say.      Enron Used Independent Companies to Control Stock Market, Credit Rating  By Dan Feldstein, Houston Chronicle, Jan. 27 As accountants, stockbrokers and others study Enron's collapse, they focus on the company's now-infamous "special-purpose vehicles" -- independent companies that propped up Enron's income and hid its debt.      Beneath Energy Trading Innovations, Enron Seethed with Deceptive Bookkeeping  Houston Chronicle, Jan. 27 Enron spent more than a decade successfully crafting an image as an unrivaled innovator capable of creating and dominating new markets.      Many Hedge Their Bets on Enron's Stock; Millions of Shares Sold for Pennies  By Bill Murphy, Houston Chronicle, Jan. 26 When Enron was riding high a year ago, its shares sold for $82 and nearly 7 million changed hands.      FEATURE-After Enron, short sellers gain respectability  By Svea Herbst-Bayliss, NEW YORK, Jan. 28 (Reuters) The stock of short sellers is rising.      Merged PanCanadian-AEC seen fetching higher value  By Jeffrey Jones, CALGARY, Alberta, Jan 28 (Reuters) Investors waded through the superlatives on Monday to gauge whether PanCanadian Energy's purchase of Alberta Energy Co., creating the world's No. 1 independent oil and gas company, will live up to its star billing.      UBS' Wuffli says Enron trading ops takeover to level out earnings fluctuations   DUESSELDORF, Jan 28, 2002 (AFX-UK via COMTEX) -- UBS AG chief executive Peter Wuffli said the acquisition of Enron Corp's wholesale energy trading business will help the bank to level out earnings fluctuations, German newspaper Handelszeitung reported.      Financial - Results      National Fuel's Profit Falls 37% In Quarter  Jan 27 - Buffalo News - Financial Edition Falling oil and natural gas prices took a toll on National Fuel Gas Co.'s first-quarter profits, reducing its earnings by 37 percent and prompting the Buffalo-based energy company to warn that its earnings this year will fall short of expectations.      International      British government rejects Enron lobbying claims  By Mike Peacock, LONDON, Jan 28 (Reuters) The British government sought to refute opposition attempts on Monday to dig up dubious links between it and collapsed U.S. energy group Enron.      Algeria gets $51mln loan to boost oil/gas recovery  ALGIERS, Jan 28 (Reuters) Algerian state-owned oil and gas firm Sonatrach said on Monday it had received a credit worth $51.3 million from French bank Societe Generale to finance a project aimed at improving oil and gas recovery in the country's southern fields.      EU says Italy should speed up utility liberalisation, pension reform   MILAN, Jan 27, 2002 (AFX-UK via COMTEX) -- The Italian government should speed up liberalisation of energy and telephony sectors to cut tariffs, and pension reform, according to the European Commission, La Repubblica reported.      Peruvian government offers alliance for natural gas   Bolivia, Jan 27, 2002 (La Razon/SABI via COMTEX) -- The Peruvian president Alejandro Toledo has presented a proposal to the Bolivian government to build up a strategic trade relationship to develop the exports of natural gas to the US.      TotalFinaElf says Syrian Desgas gas project reaches full capacity   PARIS, Jan 28, 2002 (AFX-UK via COMTEX) -- TotalFinaElf said production at its Desgas gas project in Syria, which it runs jointly with Conoco Inc, has reached full operational capacity.      Algeria plans to raise gas exports - report  Jan 28, 2002 - Deutsche Presse-Agentur (dpa) Algeria plans to strengthen its gas marketing position in Europe and raise exports to 85 billion cubic metres yearly in five years are moving ahead, with progress in key upstream projects and new pipeline routes, the Middle East Economic Survey reported Monday.      Enron bankruptcy kills plans for steel project in Mozambique   MAPUTO, Mozambique, Jan 27, 2002 (AP WorldStream via COMTEX) -- The bankruptcy of the American energy company, Enron Corp, signaled the end of plans to construct a natural gas-fueled factory to produce steel slabs for export in Mozambique, the Mozambique News Agency reported Sunday.      Gazprom, Wintershal to Cooperate in Oil And Gas Extraction  Jan 25, 2002 - Itar-Tass News Agency Russia's Gazprom gas giant and Germany's Wintershal Concern will develop oil and gas cooperation on the Russian territory and cooperate in the oil and gas exports to Western Europe.        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