How recent events could prove a harbinger of winters to come.
The Federal Energy Regulatory Commission (FERC) has approved Williams Partners and its wholly-owned subsidiary Transcontinental Gas Pipe Line Company’s (Transco) application to construct and operate two related projects designed to increase natural gas delivery capacity to Brooklyn and Queens in time for next winter's heating season. Transco will begin construction in June and plans to bring the projects into service in the fourth quarter of 2014.
Energen signed a definitive stock purchase agreement to sell its natural gas utility business, Alabama Gas Corporation (Alagasco), to The Laclede Group. The value of the transaction is $1.6 billion, subject to customary closing adjustments, and is comprised of $1.28 billion in cash and approximately $320 million of debt. Energen's after-tax proceeds are estimated to be $1.1 billion, after consideration of accelerated intangible drilling costs.
Tomorrow’s options for low-carbon baseload generation.
Harnessing the true power of social media.
Iberdrola S.A. was awarded a contract for the construction and operation of the 300 MW Baja California III combined-cycle power plant in Mexico. Work on the $270 million plant and associated facilities will begin in April 2014 with commercial operation planned for August 2016. Iberdrola won the bid through an international tender process which also included a 25-year PPA with the Mexican Federal Electricity Commission (CFE). CFE also will supply the natural gas to fuel the new plant's two GE turbines.
TransCanada reached an agreement to sell Cancarb Limited (Cancarb) and its related power generation facility to Tokai Carbon for aggregate gross proceeds of $190 million, plus customary adjustments. The transaction is expected to close late in the first quarter of 2014, subject to various approvals. Cancarb is the world's largest producer of "thermal carbon black," a specialized form of carbon derived from super-heated natural gas, which is used in a wide range of industrial and automotive products.
Assessing the risks and rewards of distributed energy strategies.
Climate policy heats up after the Great Recession.
Fortnightly’s Executive Roundtable considers industry options and risks.