You’ve got to attend the the Inuvik Petroleum Show 2011! Your author chaired the Arctic gas pipeline and oil exploration panels there in 2002 and while the program was spectacular and useful, the interaction with the community was inspirational. Getting to know Nellie Cournoyea (NGP Photo) from the Inuvialuit Regional Corporation, and Freddie Carmichael of the Gwich’in Tribal Council (now Chairman of the Aboriginal Pipeline Group) was a pleasure and honor. This year, you’ll meet another respected friend of this publisher, Gaetan Caron (NGP Photo-above), Chairman and CEO of the National Energy Board (NEB). NEB is Canada’s national energy regulator with significant regulatory responsibilities for oil and gas development in the north. NEB’s regulatory responsibilities in connection with the Mackenzie Gas project and its recent undertaking of an Arctic Offshore Drilling Review make this presentation at IPS 2011 a significant contribution to conference discussions.
Marketwire. TransCanada Corporation (TSX: TRP) (NYSE: TRP) (TransCanada) today announced it has entered into agreements to sell a 25 per cent interest in each of Gas Transmission Northwest LLC (GTN) and Bison Pipeline LLC (Bison) to TC PipeLines, LP (NASDAQ: TCLP) (the Partnership) for an aggregate purchase price of US$605 million, which includes US$81 million or 25 per cent of GTN’s debt. The sale is expected to close in May 2011 and is subject to certain closing conditions. "The proceeds from the sale of a 25 per cent interest in both GTN and Bison will be used to help fund TransCanada’s capital program," said Russ Girling, president and chief executive officer of TransCanada. "Once the transaction is complete, TransCanada will hold a 75 per cent ownership interest in both pipelines and will continue to manage and operate these high quality assets as part of its integrated North American natural gas transmission network.
Commentary: According to the Fairbanks News Miner, Anchorage Representative Mike Doogan (NGP Photo) is harrassing the Administration over meetings convened to develop its oil tax position…. We would like to know what meetings certain members of the legislaure have with certain environmental organizations and state budget subsidy beneficiaries as they prepare their own tax and spend positions. It’s funny how some politicians are so adroit at changing the dialogue from, "Why in the heck are you spending so much," to "Why in the heck don’t some people pay more so we can spend more." -dh