December Newsreel: Keane Resigns, AGIA Releases AK Status Report and more

AGIA Coordinator Releases Alaska Pipeline Project Status Report
TransCanada Alaska (TC Alaska) is on target to complete an initial open season by the end of July 2010, with a significant boost in pre-open season investment, according to a Alaska Pipeline Project Report submitted to the state Legislature on Oct. 31 by Alaska Gas Line Inducement Act (AGIA) coordinator Mark Myers.

Efforts to advance Alaska's natural gas pipeline received a significant boost over the summer with the announcement that TransCanada and ExxonMobil reached an agreement to work together on the project.

"This is exactly the type of commercial alignment which AGIA was developed to encourage," said Myers. "ExxonMobil brings upstream development expertise, the wherewithal to design a gas treatment facility and invaluable technical data of the gas line route as an owner of TAPS."

ExxonMobil's participation immediately started to pay out though its financial investment into the project.

"In my perception, ExxonMobil commits itself financially to the front end of any activity it pursues to maximize success," said Alaska Department of Natural Resources Commissioner Tom Irwin. "We are seeing a joint effort by these companies that will result in increased pre-open season spending from $83 million to $150 million. This is a encouraging."

TC Alaska has continued to make progress heading into the upcoming open season with substantial progress on several fronts, including:

• Expanding the project management team to include 100 full-time employees (50 percent from TC Alaska and 50 percent from ExxonMobil)
• Establishing and staffing a new project office in Anchorage
• Acquiring both LiDAR and immersive video along the majority of the route for both the mainline and LNG alternatives
• Preparing to complete an instate demand study, and
• Working with 24 Alaska-based service providers as part of the project participants' commitment to the Alaska business and local hiring provisions of AGIA.

"Alaskans should be encouraged by the progress which TransCanada and ExxonMobil have demonstrated in moving the APP forward," Myers concluded.

For additional online information, including copies of the Oct. 31 Progress Report and Coordinator's letter, visit www.gov.state.ak.us/agia/.

MasTec to Acquire Precision Pipeline
Coral Gables, FL-based MasTec Inc. has signed a definitive agreement to acquire Precision Pipeline LLC for a purchase consideration of $150 milliont. The transaction is contingent on financing availability on terms and conditions acceptable to MasTec, in its sole discretion, and there is no break-up fee if such financing is not available.

Based in Eau Claire, WI, Precision is a leading energy infrastructure services provider, specializing in the construction and maintenance of large-diameter pipelines.

Enterprise Announces Commercial Organization After Completing TEPPCO Merger
Enterprise Products Partners L.P. recently introduced its commercial management team following completion of its merger with TEPPCO Partners, L.P. The senior officers of the general partner of Enterprise listed below will report to A.J. “Jim” Teague, an Executive Vice President and Chief Commercial Officer of Enterprise.