Enterprise Products Partners L.P. (NYSE: EPD), a natural gas and crude oil pipeline company, has acquired a 50 percent stake in TransCanada’s project. Financial terms of the deal were not disclosed.
TransCanada Corporation (TSX: TRP, (NYSE: TRP), a major North American energy company, is proposing a natural gas pipeline project from the U.S. Rockies supply basins to markets in the U.S. Midwest. The pipeline is being developed in response to forecast supply growth in the U.S. Rockies gas basins that is anticipated to exceed existing Rockies export transportation capacity in the 2010 to 2012 timeframe.
The proposed Pathfinder Gas Pipeline project is an approximate 500-mile (800-kilometre), 42-inch natural gas pipeline that will move gas northeastward from the Rockies connecting Wamsutter, Wyoming to the Northern Border Pipeline Company system for delivery into the Ventura and Chicago area markets. The project will include an option for an approximate 140-mile (225-kilometre) pipeline connecting Meeker, Colorado to Wamsutter. The initial capacity for the pipeline is 1.2 Bcf/d, with an ultimate capacity of 2.0 Bcf/d. The expected in service date is late 2010.
The transaction means affiliates of Houston-based Enterprise (NYSE: EPD) and Fort Worth-based Quicksilver Gas Services LP (NYSE: KGS) own up to 40 percent and 10 percent, respectively, of the pipeline, and a commitment to ship 500 million cubic feet per day of natural gas for a 10-year term.
The companies plan to form a new company to handle the natural gas shipment, with Enterprise owning an 80 percent stake and Quicksilver owning the remainder of the new entity.
TransCanada will retain a 50 percent ownership stake and will act as developer, constructor and operator of the project.
The discovery of the submarine has unveiled a few "inconsistencies." For example, how can one explain the fact that the sub was found where it needed to be searched for from the start?
When on a state visit to Singapore, Russian President Vladimir Putin promised to revisit the discussion of the 1956 Declaration between the USSR and Japan regarding the issue of the peace treaty with Japan
The TurkStream, which runs along the bottom of the Black Sea from Russia's Anapa to Turkey, will consist of two lines, each with a capacity of 15.75 billion cubic meters of gas a year