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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.745

-0.6%

Nov 26 3:59 PM EST

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To: John R. Sashko who wrote (1246)	12/12/1997 11:11:00 AM
From: david james	Read Replies (1) of 2841

Looks like we can put this worry to rest too. CALGARY, Dec 10 (Reuters) - Companies proposing competing pipelines to ship Sable offshore natural gas to Atlantic Canada and the U.S. Northeast have lost a court bid to stop final approval of the Maritimes & Northeast Pipeline. Backers of the TransMaritime project, including Gaz Metropolitain & Co LP <GZM-u.TO>, IPL Energy Inc <IPL.TO> and Tatham Offshore Inc's <TOFFD.O> North Atlantic Pipeline project had asked Canada's Federal Court of Appeal to block the final go-ahead for Maritimes & Northeast. TransMaritime partner TransCanada PipeLines Ltd <TRP.TO> did not participate in the appeal bid on which the court ruled late on Tuesday. Maritimes & Northeast, led by Westcoast Energy Inc <W.TO>, Mobil Corp <MOB.N> and Duke Energy <DUK.N> had received approval along with the Sable Offshore Energy Project by Canada's National Energy Board. The C$1 billion pipeline, which would route Sable gas through Nova Scotia, New Brunswick and into Maine, New Hampshire and Massachussetts, still requires approval from Canada's federal Cabinet. TransMaritime would also ship gas to the U.S. Northeast, but via Quebec, while North Atlantic would run along the ocean floor to New Hampshire. Both rivals filed their applications late in the regulatory process and their projects were not considered at hearings into the Sable project last summer. They tried but failed to get hearings re-opened so their proposals could be weighed against Maritimes & Northeast.

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