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Subject:Daily Gas News - 11/20/01
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Date:Mon, 19 Nov 2001 18:20:34 -0800 (PST)



































































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<b<TUESDAY, NOVEMBER 20, 2001</b<

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506080"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<Conoco, Phillips Petroleum Agree to Merge in $35 Billion Deal</b<</font<</a<<br<

<font size="-1"<<i<By Nelson Antosh, Houston Chronicle, Nov. 19</i<

Conoco and Phillips Petroleum have agreed to merge, forming an oil company that will be the third-largest in the United States and the sixth-largest in the world.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Cash Rockets on Cold Weather Outlooks, Storage Play</b<</font<</a<<br<

<font size="-1"<<i<Nov. 19 (Btu's Daily Gas Wire)</i<

Some cold weather felt in parts of the West and forecasts calling for temperatures to drop in the Midwest and East sent next day gas prices soaring 50 to 60 cents on average today, traders said.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Ruhrgas plan casts doubts on import deals </b<</font<</a<<br<

<font size="-1"<<i<By Joe Harper, Nov. 19, 2001 (New World Publishing via COMTEX) --</i<

Natural gas import deals signed with Norway and Denmark this year were in doubt last week following an announcement by Germany's Ruhrgas that the government would approve its pipeline project, analysts said.

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<b<Press Release</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<POWERWEB AND SAIC SIGN NATIONWIDE DISTRIBUTION AGREEMENT</b<</font<</a<<br<

<font size="-1"<<i<Media, PA, November 19, 2001--</i<

Powerweb Technologies, Inc. today announced that is has signed a nationwide Distribution and Joint Marketing Agreement with Science Applications International Corporation (SAIC). This agreement will enable SAIC to market and deploy Powerweb?s Omni-Link Internet Energy Platform, to energy organizations as well as end-use energy customers throughout the United States.

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<b<National Energy Policy</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<SENATOR PUTS HOUSE ENERGY BILL ON ECONOMIC STIMULUS PACKAGE </b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 (Octane Week/PBI Media via COMTEX) -- </i<

The Senate came one step closer to putting energy on the agenda when Sen. Larry Craig (R-Idaho) filed a scaled- down version of the House-passed energy bill, H.R. 4, as an amendment to the economic stimulus package being debated in Congress.

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<b<Mergers, Acquisitions & Divestitures</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Mississippi Valley Gas plans merger with Dallas company</b<</font<</a<<br<

<font size="-1"<<i<Nov 19 - The Mississippi Business Journal</i<

Mississippi Valley Gas Company, the largest natural gas utility in Mississippi serving about 261,500 customers in 36 counties in the state, will become a wholly-owned subsidiary of Atmos Energy Corporation if a proposed merger is approved as planned.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Dynegy's Buying Enron Results in Bitterness, Problems And Support</b<</font<</a<<br<

<font size="-1"<<i<Nov. 19 (Utility Spotlight)</i<

The proposed acquisition of Enron by cross-town rival Dynegy has ruffled some feathers of Enron employees, many of whom will lose not only their jobs but also what was once a fortune, now in nearly worthless stock options.

<a href="http://www.energycentral.com/sections/offers/special_offer.cfm?id=18"<<br<Special Offer from this Publisher!</a<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<DSM to sell Energie Beheer Nederland stake to Dutch govt for 1.243 bln eur </b<</font<</a<<br<

<font size="-1"<<i<AMSTERDAM, Nov 19, 2001 (AFX-Europe via COMTEX) -- </i<

DSM NV said it will sell its stake in Energie Beheer Nederland to the Dutch government for 1.243 bln eur.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<The Sunday Telegraph: Westlb Makes A Grab for Gbp1bn Wessex Water</b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 - FT World Media Abstracts via Comtex</i<

Germany-based bank WestLB is negotiating with US-based energy concern Enron for a possible acquisition of Wessex Water.

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<b<Gas Pricing/Hubs</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Canadian spot gas recovers from seven-day rout</b<</font<</a<<br<

<font size="-1"<<i<CALGARY, Alberta, Nov 19 (Reuters)</i<

Canadian spot natural gas prices jumped across the board on Monday, especially in Alberta, where prices nearly doubled from depressed weekend levels on the strength of higher export demand, traders said.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<U.S. spot gas jumps 23 pct on cold midweek weather</b<</font<</a<<br<

<font size="-1"<<i<SAN FRANCISCO, Nov 19 (Reuters)</i<

U.S. spot natural gas prices surged Monday on cold-weather forecasts dealers said were likely to trigger widespread heating demand in the Midwest and Northeast consuming regions.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<NYMEX Hub gas ends higher on weather, short cover</b<</font<</a<<br<

<font size="-1"<<i<NEW YORK, Nov 19 (Reuters)</i<

NYMEX Hub gas ended higher Monday after a soft open, lifted by colder midweek weather forecasts and short covering ahead of the long holiday weekend despite a lagging cash market, industry sources said.

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<b<Production</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<LOWER 48 GAS PRODUCTION STEEPENS ITS FALL IN 3Q </b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 (Gas Processors Report/PBI Media via COMTEX) -- </i<

There is perhaps something to be made of the fact that the minute producers stopped hiring so many rigs, gas production fell.

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<b<LNG</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<PHILLIPS PETROLEUM SAYS NO AGREEMENT TO BACK SHELL'S TIMOR SEA PLANT </b<</font<</a<<br<

<font size="-1"<<i<DARWIN, Nov 19, 2001 (AsiaPulse via COMTEX) -- </i<

Phillips Petroleum today denied a report that it had backed Royal Dutch-Shell's $A4 billion ($US2.08 billion) plan to build the world's first floating liquified natural gas (LNG) plant in the Timor Sea.

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<b<Pipelines</b<

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2505883"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<Energy Companies Work to Get Around Barrier to Alaska Gas Pipeline</b<</font<</a<<br<

<font size="-1"<<i<By Liz Ruskin, Anchorage Daily News, Alaska, Nov. 16</i<

A $4 billion financial cloud hanging over the proposed Alaska Highway gas pipeline cleared a little Thursday, when nine energy companies announced they have agreed to come together to settle the problem and pitch a business plan to North Slope natural gas owners.

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507930"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<Ibama Fines Petrobras US$4mn for Pipeline Error </b<</font<</a<<br<

<font size="-1"<<i<Brazil, Nov 19, 2001 (BNamericas.com via COMTEX) -- </i<

Brazil's environment agency Ibama has fined Brazil's federal oil company Petrobras US$4mn (10mn reais) for installing a 4km undersea pipeline to extract natural gas from the Marlim Sul field without the relevant environmental licensing, according to daily newspaper Valor Economico.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<State ponders investment</b<</font<</a<<br<

<font size="-1"<<i<Nov 19 - Journal of Alaska Business and Commerce</i<

A citizen committee asked by Gov. Tony Knowles to evaluate possible state investment in a natural gas pipeline has reached a tentative conclusion to advise against the idea, unless there is some compelling and overriding public interest.

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508376"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<Ukraine pledges not to siphon Russian gas from pipelines</b<</font<</a<<br<

<font size="-1"<<i<Nov 19 - ITAR - TASS News Wire</i<

Ukraine has passed legislative acts that confirm its pledge not to siphon natural gas from transit pipelines crossing its territory.

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<b<Rates</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Court Orders Camuzzi to Freeze Gas Rate Hike </b<</font<</a<<br<

<font size="-1"<<i<Argentina, Nov 19, 2001 (BNamericas.com via COMTEX) -- </i<

Argentine judge Jorge Pfleger has ordered gas distributor Camuzzi Gas del Sur to not apply increased gas rates for users in Patagonia until negotiations with the government over subsidy payments are concluded, La Nacion reported.

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<b<General</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<New Jersey Balks at Increase in Seniors' Heating Aid</b<</font<</a<<br<

<font size="-1"<<i<By Herb Jackson, The Record, Hackensack, N.J., Nov. 19</i<

It gives the term "budget freeze" a whole new meaning.

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<b<New Technologies/Markets</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Scientists Seek New Energy Sources</b<</font<</a<<br<

<font size="-1"<<i<Nov 18 - Associated Press</i<

In Canada's Northwest Territories, where the Mackenzie River empties into the Beaufort Sea, scientists are studying a vast deposit of frozen methane as a potential energy source.

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<b<Financial</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Congressman urges probe of Andersen on Enron</b<</font<</a<<br<

<font size="-1"<<i<WASHINGTON, Nov 19 (Reuters) -</i<

A U.S. Congressman has called for an investigation of Big Five accounting firm Arthur Andersen LLP in connection with its audits of Enron Corp. and Waste Management Inc., according to a letter released on Monday

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Employees' 401(k) Plans Sink with Enron</b<</font<</a<<br<

<font size="-1"<<i<By Jeff Manning, The Oregonian, Portland, Ore., Nov. 16</i<

Enron, the once-mighty energy giant, took millions of dollars of its employees' retirement savings down with it as it collapsed with shocking swiftness during the past month.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<FUND SCORE-Utilities funds may lag in economic recovery</b<</font<</a<<br<

<font size="-1"<<i<By Christopher Noble, BOSTON, Nov 19 (Reuters)</i<

Mutual funds that focus on utilities have posted average returns this year, but they may well fall behind more cyclical stocks as the economy recovers in the months ahead, a fund manager said on Monday.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<B.C. GAS FILES SHELF PROSPECTUSES TO SELL DEBT TO CANADIAN INVESTORS </b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 (Petroleum Finance Week/PBI Media via COMTEX) -- </i<

B.C. Gas Inc. filed a base shelf prospectus with Canadian regulatory authorities to issue up to C$1 billion of debt or subordinated debt over two years.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<GUARDIAN PIPELINE CLOSES $180 MILLION OF PROJECT FINANCING </b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 (Petroleum Finance Week/PBI Media via COMTEX) -- </i<

Guardian Pipeline closed $180 million of project financing that was arranged by Prudential Capital Group.

<br<<br<</font<

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<a name="section30"<

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<b<Financial - Results</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<MOL posts losses, receives bids for gas division </b<</font<</a<<br<

<font size="-1"<<i<By Dan Nashaat, Nov 19, 2001 (New World Publishing via COMTEX) -- </i<

Hungarian oil and gas company MOL Rt posted losses of Ft 14.29 billion ($51 million) in the first nine months, compared with profits of Ft 23.06 billion over the corresponding period of 2000.

<br<<br<</font<

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<b<International</b<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Lithuanian Gas Privatisation Launched </b<</font<</a<<br<

<font size="-1"<<i<FRANCE, Nov 19, 2001 (Prline via COMTEX) -- </i<

The Government of Lithuania and its Adviser, BNP Paribas Corporate Finance, have launched the privatisation of the Lietuvos dujos (Lithuanian Gas) company.

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<td<

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Gas Problem Settled with Ukraine - Putin</b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 - Itar-Tass News Agency</i<

Large work carried out by Russia and Ukraine over the past 18 months in the gas sphere has been completed.

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<td<

<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508106"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<LA Tribune: Gdf on The Advance in Mexico</b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 - FT World Media Abstracts via Comtex</i<

French gas distributor Gaz de France (GDF) is to invest at least $500m (568.2m euros) in Mexico over the next five years, according to Gerard Mallet, director of the group's Mexican subsidiary.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Bolivian And Peruvian Authorities Discuss Gas Projects to Avoid Competition</b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 - South American Business Information</i<

The Peruvian Ministry of Mines and Power informed that Bolivian authorities will come to Peru soon in order to discuss the gas projects that will be developed by both countries, so as to avoid competition between them.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Brazil : BR Invests R$12mil at Espirito Santo</b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 - South American Business Information</i<

The growth of natural gas market at Espirito Santo state stimulated the BR Distribuidora to expand its investment in the region in 2002.

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508278"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<Dark Clouds Threaten Sunrise Gas Partners</b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 - Australasian Business Intelligence</i<

Further tensions between the partners in the Sunrise gas reservoir development were revealed on 19 November 2001.

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506536"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<ENI plans to be 'supermajor' oil co via acquisitions, increased output </b<</font<</a<<br<

<font size="-1"<<i<MILAN, Nov 18, 2001 (AFX-Europe via COMTEX) -- </i<

ENI SpA plans to become "a supermajor" oil company via acquisitions and increased exploration activities, said chief executive Vittorio Mincato in Il Sole 24 Ore's Saturday edition.

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<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507760"<

<font face="arial,helvetica,sans-serif" size="-1"<<b<The gas giant Gazprom: Not interested in Nova </b<</font<</a<<br<

<font size="-1"<<i<Nov 19, 2001 (New World Publishing via COMTEX) -- </i<

The Russian gas giant Gazprom denies it would be interested in investing to TV Nova.

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<font face="arial,helvetica,sans-serif" size="-1"<<b<Gazprom to take part in privatization of Slovak Gas Company</b<</font<</a<<br<

<font size="-1"<<i<Nov 19 - ITAR - TASS News Wire</i<

Gazprom head Alexei Miller and Slovak Privatization Minister Maria Machova have agreed on the participation of Russia's Gazprom gas giant in the privatization of the Slovak Gas Company, the Gazprom press service told Itar-Tass on Tuesday.

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