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Williams Energy =09 [IMAGE]=09 [IMAGE] =09 HOME | GAS NEWS | EVENTS | JOBS | BUSINESS CENTERS | DIRECTORIES= | DATA CENTER TUESDAY, OCTOBER 30, 2001 =09 =09 THIS ISSUE BROUGHT TO YOU BY Gain exposure to thousands of ene= rgy professionals with your company's white papers today. Energy Central, t= he 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 mjoh= nson@energycentral.com. http://www.energycentral.com/sections/research / = TOP STORIES Bingaman Builds Energy Bill; GOP Seeks Legislative Veh= icles Oct 29, 2001 - E?Publishing Another quiet week lies ahead for the Se= nate Energy and Natural Resources Committee. El Paso's Capacity Allocat= ion Proposal Hotly Debated, More To Come October 30 Oct. 30 (Btu Watch) On= October 15, 2001, initial comments were filed by a multitude of parties fo= llowing the technical conferences on July 18-19, 2001, and August 28, 2001,= held by FERC to discuss El Paso's capacity allocation proposal and appear = to put El Paso's CD customers and FR customers at odds. Special Offer from = this Publisher! Federal judge okays LNG tanker entry to Boston BOSTON= , Oct 29 (Reuters) A federal judge on Monday ruled that a tanker loaded wit= h about 30 million gallons of liquefied natural gas (LNG) may enter Boston = harbor to deliver its load, throwing out a lawsuit filed by Boston's mayor = to block the delivery due to safety concerns. Energy Security Ter= rorism Boosts Security Fears At Nuclear, Pipeline, Electric Sites Oct. 29 = (Utility Spotlight) While there have always been some concerns about securi= ty in the energy industry, it took the Sept. 11 terrorist attacks to force = many sectors to think more seriously and to take steps to protect energy si= tes particularly nuclear, pipelines, transmission lines, storage facilities= and the like across the nation. Special Offer from this Publisher! M= ergers, Acquisitions & Divestitures BURLINGTON PLANS BRIGHT FUTURE WIT= H CANADIAN HUNTER ACQUISITION Oct 29, 2001 (Gas Processors Report/PBI Med= ia via COMTEX) -- Unfazed by depressed North American natural gas prices, B= urlington Resources Inc. has announced plans to acquire Calgary-based Canad= ian Hunter Exploration Ltd. for US$2.1 billion (C$3.3 billion) in cash. = B.C. GAS AGREES TO ACQUIRE CENTRA GAS FROM WESTCOAST Oct 29, 2001 (Petr= oleum Finance Week/PBI Media via COMTEX) -- B.C. Gas Inc. agreed to buy Cen= tra Gas British Columbia Inc. and Centra Gas Whistler Inc. from Westcoast E= nergy Inc. last week for C$590 million. Another Merger Opportunity for= Gas Natural And Iberdrola Oct 29, 2001 - FT World Media Abstracts via Com= tex Spanish bank BBVA could now have another opportunity to promote a merge= r between Spanish power utility Iberdrola and gas company Gas Natural after= two previous attempts foundered due to opposition from Iberdrola's manager= s. ADVERTISEMENT GasTrader has the information to help you see = where prices are headed. Focusing on the future direction of natural gas pr= ices, you can find yourself ahead of the crowd in no time. Receive a FREE 4= -week trial to Gas Trader today. Visit Energy Central's Online Publications= today to start your trial: http://www.energycentral.com/global/sho_pub.cfm= ?id=3D957 Gas Pricing/Hubs NYMEX, cold weather lift U.S. spot= natural gas SAN FRANCISCO, Oct 29 (Reuters) Firm NYMEX trade and lingerin= g heating demand in the Midwest and Northeast lifted U.S. spot natural gas = prices Monday, market sources said. Canada natgas follows U.S. cash an= d futures higher NEW YORK, Oct 29 (Reuters) Canadian spot natural gas pric= es were stronger Monday, following U.S. cash and futures higher in lingerin= g heating demand and bullish technicals, industry sources said. NYMEX = Hub gas ends up ahead of Nov. expiration NEW YORK, Oct 29 (Reuters) NYMEX = Hub gas firmed midday Monday in moderate trade, lifted by a stronger physic= al market and bullish technicals after last week's sharp gains, industry so= urces said. Drilling/Exploration Argentina: Wintershall invests U= S$150mil Argentina, Oct 25, 2001 (El Cronista/SABI via COMTEX) -- The Ger= man oil company Wintershall confirmed it will invest US$150mil of the US$40= 0mil to be invested by the consortium of Cuenca Marina Austral to develop t= he off shore gas fields Carina in the south of Argentina. Futures = Nov Futures Hits 10-Week High in Pre-expiry Short-covering, Cold Oct. 29 = (Btu's Daily Gas Wire) November natural gas futures expired up 16.1 cents a= t $3.202 as colder near term weather triggered short-covering ahead of the = nearby month's expiration this afternoon, said traders. Special Offer from = this Publisher! Pipelines PAKISTAN INAUGURATES US$243.5 MLN GAS = PIPELINE PROJECT KARACHI, Oct 29, 2001 (AsiaPulse via COMTEX) -- The Mini= ster for Petroleum and Natural Resources, Usman Aminuddin, has inaugurated = a mega project of laying gas pipeline in the Punjab at a cost of over Rs 15= billion (US$243.51 million). Pipe dreams on the line By Nigel Wilso= n, Oct 30, 2001 (The Australian - ABIX via COMTEX) -- The Australian gas pi= peline industry has revealed that regulation changes are required to attrac= t new pipelines. Transparency Troubles Gas Pipeline Construction Oct = 29, 2001 - South American Business Information Market sources believe that = the construction of the Paraguayan gas pipeline is unattractive for foreign= investors due to lack of transparency and clear electric power energy regu= lation. East China Province Seeks Investment for Gas Pipeline Project = Oct 29, 2001 - Xinhua News Agency East China's Jiangsu Province plans to r= aise capital totaling 20 billion yuan (2.43 billion U.S.dollars) for a 300 = km section of the 4,200 km west-east natural gas pipeline under constructio= n. Gas pipeline ruptures, catches fire in Smolensk region Oct 29 - IT= AR - TASS News Wire An export gas pipeline in the Smolensk Region, west of = Moscow, ruptured and caught fire Friday morning, the public relations depar= tment of the gas transportation company Lentransgaz told Tass. Khriste= nko discusses North European pipeline in Finland Oct 29 - ITAR - TASS News= Wire A special group made up of Russian, German and Finnish specialists wi= ll draw up a detailed plan within three or four months, which will outline = ways of building a North European gas pipeline, which will go across the te= rritory of Finland, Russian Deputy Prime Minister Viktor Khristenko said on= Monday at a press conference on the results of his talks with Finnish Prim= e Minister Paavo Lipponen. Storage AGA'S PLAN TO DISCONTINUE STOR= AGE REPORT PRODUCES SURPRISINGLY MILD REACTIONS By Nick Snow in New York,= Oct 29, 2001 (Petroleum Finance Week/PBI Media via COMTEX) -- The American= Gas Association's decision to discontinue gathering and publishing weekly = storage statistics after the end of the year elicits expressions of regret,= but not a whole lot else. General WILLIAMS DEFIES ENERGY DIVERSI= FICATION TREND BY ACQUIRING HARD ASSETS By Leslie Haines in Houston, Oct = 29, 2001 (Petroleum Finance Week/PBI Media via COMTEX) -- Unlike other dive= rsified energy companies that believe in moving away from holding hard asse= ts, Williams Companies Inc. follows the opposite strategy, trying to balanc= e high-margin and low-margin assets and short-term and long-term growth opp= ortunities. Trading/Marketing Europe energy firms wary of Enron o= n credit worries By Stuart Penson (Reuters) LONDON, Oct 29 (Reuters) Energ= y companies in Europe are shying away from trading with troubled U.S. energ= y group Enron amid concerns about the company's credit status, industry sou= rces said on Monday. U.S. firms say deals with Enron at normal levels = By Andrew Kelly (Reuters) HOUSTON , Oct 29 (Reuters) Major U.S. wholesale = natural gas and electricity traders said on Monday their deals with trouble= d Enron Corp. are still running at normal levels. Deals/Contracts = Norway enters long-term gas supply deal with Italy Oct 29, 2001 (NORDIC = BUSINESS REPORT via COMTEX) -- Norway has entered an agreement to supply 15= 0 billion cubic metres of natural gas to Italy over the next 24 years. = ...IN THE WAKE OF FEWER, BUT MUCH LARGER, TRANSACTIONS DURING THIRD QUARTE= R By Nissa Darbonne in Houston, Oct 29, 2001 (Petroleum Finance Week/PBI = Media via COMTEX) -- It was no time for small oil and gas deals, as small-a= sset sellers shrank from the table in the third quarter while buyers, conce= rned with commodity prices, offered less for reserves than in the first hal= f of this year. People Many in Houston Believe Enron Chairman Can= Get Energy Firm Back on Track By Bruce Nichols, The Dallas Morning News, = Oct. 28 Over the last 15 years, Enron Corp. has transformed itself from a s= leepy gas pipeline company into an energy trading giant. Financial = Enron at 1994 lows as credit worries grow HOUSTON, Oct 29 (Reuters) - En= ron Corp.'s shares fell near a seven-year low on Monday, as the limping ene= rgy giant said it was lobbying banks for a new credit line and a rating age= ncy chopped Enron's senior unsecured debt to two notches above junk status.= Hit by SEC Probe, Recent Events, Enron Tries for Wall Street Answers = Oct. 29, Houston (Utility Spotlight) Disclosure of a federal inquiry over = the activities of Enron's chief financial officer last week brought a near = free-fall in its once proud stock value in the latest turn of events in wha= t is becoming a horrendous year for the diversified energy giant. Special O= ffer from this Publisher! Enron Corp. Turns Some Credit into Cash to = Boost Confidence as Stock Slides By Tom Fowler, Houston Chronicle, Oct. 29= Enron Corp.'s stock price hit its lowest point in more than five years Fri= day after it tapped into more than $3 billion in revolving credit in an eff= ort to reassure investors and customers. Financial - Ratings Mood= y's Downgrades Enron's Long-Term Debt Rating Oct. 30 (NGI's Daily Gas Pric= e Index) Moody's Investor Service on Monday lowered the senior unsecured lo= ng-term debt ratings of Enron Corp. from Baa1 to Baa2 "where they will rema= in for downgrade." Special Offer from this Publisher! Financial - Res= ults Mirant's quarterly earnings nearly double NEW YORK, Oct 28 (Reut= ers) - Mirant Corp., a top U.S. energy marketer spun off from Southern Co. = earlier this year, said on Sunday its third-quarter profits nearly doubled = with help from its trading and marketing unit, and added that it could exce= ed Wall Street estimates in 2002. DTE Energy net dips on economy, merg= er impact DETROIT, Oct 29 (Reuters) DTE Energy Co., an owner of utilities = serving Southeastern Michigan, on Monday reported a 20 percent drop in thir= d-quarter earnings, less steep than analysts had expected, as cost cuts and= increased sales to higher-margin residential customers partly offset seaso= nal losses from a recently acquired gas utility. National Fuel Doubles= Profit From Its Operations Oct 28 - Buffalo News - Financial Edition Risi= ng profits from its pipeline and storage business, coupled with a gain from= a change in the value of a type of stock options issued to top executives,= helped National Fuel Gas Co. more than double its fourth-quarter profits f= rom its operations. International Thailand Panel Establishes New = Guidelines for Natural Gas Pricing Bangkok Post, Thailand, Oct. 29 New gui= delines for natural gas pricing and throughput charges have been establishe= d by the National Energy Policy Committee. Energy stifled by lack of r= eform By Alan Wood, Oct 29, 2001 (The Courier-Mail - ABIX via COMTEX) -- = The Australian Pipeline Industry Association says gas infrastructure develo= pment is being hindered by a lack of reform. INDIA'S SUPREME COURT SET= S FURTHER HEARING ON GAS PIPELINE ISSUE NEW DELHI, Oct 29, 2001 (AsiaPuls= e via COMTEX) -- On the volatile issue of who should have jurisidiction ove= r the gas pipelines, the federal government or the States, India's Presiden= t K R Narayanan has sought the opinion of the Supreme Court. British G= as Undecided on Pacific Outlet Bolivia, Oct 29, 2001 (BNamericas.com via = COMTEX) -- British Gas - sitting on 4.1 trillion cubic feet of natural gas = reserves in southern Bolivia - is still looking at a range of options to "m= onetize" the reserves - a corporate communications official told BNamericas= .com. ELECTRICITY COMPANIES CALL ON GOVERNMENT TO SPEED UP PLANS TO SA= LE 65% STAKE IN ENAGAS Oct 29, 2001, (El Mundo /FT Information via COMTEX)= -- The Spanish economy ministry is due to announce in November the tariffs= and charges which will apply for gas transport as a first step prior to Sp= anish gas group Gas Natural selling 65 per cent of gas distribution company= Enagas. Ute Will Participate in Gas Plant Oct 29, 2001 - South Ameri= can Business Information UTE will own up to 33% of the shares in the compan= y which will build a combined cycle thermal generating plant whilst the Gov= ernment is trying to attract private investors to this project following a = presentation which took place in the 28th Global Congress of Energy in Buen= os Aires, Argentina. Thyssengas GMBH Lowers Prices Oct 28, 2001 - FT = World Media Abstracts via Comtex Thyssengas GmbH, the gas importing and tra= ding subsidiary of German energy giant RWE AG, announced yesterday that it = had managed to defy the negative trend on Germany's deregulated gas market = during the first nine months of 2001, but stressed that it had had to reduc= e prices substantially. All fired up for gas-fuel future By Nigel Wi= lson, Oct 30, 2001 (The Australian - ABIX via COMTEX) -- The Queensland Gov= ernment is intent on developing the use of natural gas in the state. = 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 exact= ly the news you need - quickly! NEED INFORMATION ON THE POWER IND= USTRY? ENERGY CENTRAL'S GOT IT! 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