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Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (6925)	1/29/2004 9:24:52 AM
From: Roebear	Read Replies (1) \| Respond to of 108573

KastelCo, Follow the money, and Warren B definitely has the Midas touch: PIPELINE NEWS PRESS RELEASE FROM MEC Wednesday January 28, 7:47 pm ET SALT LAKE CITY, Jan. 28 /PRNewswire/ -- The State of Alaska Department of Revenue today approved MEHC Alaska Gas Transmission Company's application under the Alaska Stranded Gas Development Act for authority to enter into negotiations on fiscal and tax issues related to building a natural gas pipeline to facilitate the transportation of stranded Alaskan natural gas. The department determined MAGTC's application conforms with the requirements of the state's Stranded Gas Act and was accepted. MAGTC is a subsidiary of MidAmerican Energy Holdings Company, a Berkshire Hathaway Inc. affiliate. Other members of the project's sponsor group include Cook Inlet Region, Inc., an Alaska native corporation; and Pacific Star Energy, LLC, a consortium including Alaska native corporations. "Receiving this approval is an exciting first step in getting stranded Alaskan gas to Canada and the lower 48 United States," said Robert Sluder, MAGTC president. "We look forward to working with the state of Alaska and continue to strongly encourage Congress to move forward to pass national energy legislation early this year." "This clears the way for negotiations to begin on a draft contract," Alaska Gov. Frank Murkowski said. "We will hold preliminary talks with the companies immediately, with formal negotiations following shortly thereafter. We believe the consortium of companies led by MidAmerican is highly qualified to construct the project they have proposed, and we expect to negotiate with them from that basis." MAGTC plans to construct a 745-mile, $6.3 billion (2002 dollars) pipeline extending from the North Slope area of Alaska near Prudhoe Bay southward to the Alaska-Yukon border near Beaver Creek. The 48-inch diameter, high-pressure natural gas pipeline will have an initial design capacity of approximately 4.5 billion cubic feet of gas per day. At the Alaska-Yukon border, the pipeline will interconnect with a new, companion pipeline to be built in Canada. The new Canadian facilities would connect Alaskan gas for delivery into multiple existing downstream pipeline systems into virtually every market center in Canada and the lower 48 United States. MAGTC will be responsible for the Alaska segment of the project and is pursuing project development in anticipation of a Dec. 31, 2010, in-service date. MidAmerican Energy Holdings Company is based in Des Moines, Iowa, and is a privately owned global provider of energy services. Through its energy- related business platforms -- CalEnergy Generation, Kern River Gas Transmission Company, Northern Natural Gas Company, MidAmerican Energy Company and CE Electric UK -- MidAmerican provides electric and natural gas service to five million customers worldwide. Information on MidAmerican is available on the Internet at www.midamerican.com . Source: MidAmerican Energy Holdings Company Whatever todays NG draw is, next week will (or should) be more. With the exception of TGA, still holding gassers. Best Regards, Roebear