Search   Advanced Search
LATEST NEWS
 
 
News
 Latest Headlines
 Quick Facts
 Breaking News
 Top Stories
 Feature Articles
 Politics
 US Policy
 General
 Commodities
 Canadian
 UK
 Indian
 Wallstreet Events
 US Economic News
 European Economic News
 Asian Economic News
 All Economic News
 FX Top Stories
 Currency Alerts
 Mkt Sensitive News
 Politics
 European Mkt Updates
 Asian Mkt Updates
 Treasury Mkt Updates
 Pop
 Rock
 Classic Rock
 Rap/Hip-Hop
 Country
 Alternative
 Oldies
 Movie Reviews
 DVD Releases
 Box Office
 Slide Shows
 Business News
Commentary/Analysis
 Daily Market Analysis
 US Market Updates
 US Commentary
 Asian Commentary
 European Commentary
 Canadian Commentary
 Indian Commentary
 Sector/Market Trends
Stock Alerts
 Stocks To Watch
 Long Term Stocks
 Before the Bell
 $5 and Under
 After the Bell
 Intraday Updates
 IPOs
 Hot Stocks
Earnings Calendars
 Upcoming Earnings
 Latest Earnings
 Pos Pre Announcements
 Neg Pre Announcements
Corporate Calendars
 Stock Splits
 Stock Buybacks
 Dividends
 Conference Calls
 FDA Calendar
 Board Meetings
 Mergers & Acquisitions
Ratings Changes
 Upgrades
 Downgrades
 Coverage Initiations
 Coverage Reiterated
 All Videos
 Market Commentary
 Top Stories
 Economic News
 Political News
 Foreign Markets
 Corporate News
 Entertainment News
 Top Stories
 Earnings
 Mergers & Acquisitions
 Market Commentary
 Economic News
 IPOs and New Issues
 Corporate News
 Forex News
 Interviews
 Private Equity
Economic Calendar
RTT DeskAlert

Font Down Font Up
El Paso, Global Infrastructure Partners Form 50% Joint Venture For Ruby Pipeline Project - Update
7/27/2009 10:32 AM ET


RELATED NEWS
El Paso To Present At Bank Of America Merrill Lynch Energy Conference; Webcast At 3:10 PM ET
El Paso To Present At Citi North American Credit Conference; Webcast At 9:45 AM ET
MicroSeismic Wins Contract From El Paso For Buried Array Program In Haynesville Shale - Quick Facts
El Paso To Present At Citi North American Credit Conference; Webcast At 9:45 AM ET
El Paso Q3 09 Earnings Conference Call At 10:00 AM
(RTTNews) - Oil and gas producer El Paso Corp. (EP: News ) on Monday announced that it formed a strategic 50:50 joint venture with infrastructure private equity fund, Global Infrastructure Partners or GIP, to construct, own and operate the Ruby interstate natural gas pipeline.

The Ruby pipeline project, from Wyoming to Oregon, is estimated to require an investment of up to $3.0 billion and is expected to be placed into service in March 2011.

In a statement, managing partner of GIP, Adebayo Ogunlesi said, "We are pleased to be working with our partners at El Paso to help meet the growing national demand for cleaner energy sources by efficiently transporting natural gas to customers in California, the Pacific Northwest and Nevada. Ruby is an attractive investment that will benefit from the combined financial, operational and energy industry expertise of this GIP/El Paso partnership."

"We are pleased to have Global Infrastructure Partners join us in the Ruby project. We continue to make excellent progress on Ruby, and we look forward to it being one of the key assets in our pipeline franchise," president of El Paso's Western Pipelines, Jim Cleary added.

GIP is an independent $5.64 billion fund that invests in infrastructure assets worldwide. GIP works in partnership with the public sector and other stakeholders to improve infrastructure for the community by drawing on its global capability and applying industrial best practice to enhance operating efficiency. GIP is a long-term investor and aims to achieve fully transparent superior returns. Credit Suisse and General Electric are joint founding investors in GIP with each committing $500 million of investment capital.
Houston, Texas-based El Paso, parent company of Ruby Pipeline, L.L.C., provides natural gas and related energy products in a safe, efficient, and dependable manner. The company owns and operates North America's largest interstate natural gas pipeline system and is one of North America's top 10 domestic independent natural gas producers.

The Ruby Pipeline is a win-win project for natural gas consumers and producers. It represents an about $3 billion investment in a new interstate pipeline infrastructure that will transport natural gas from the Rocky Mountains to meet the rising demand for clean-burning, environmentally friendly energy along its proposed route in the western U.S. The Federal Energy Regulatory Commission or FERC approval for the project is expected in the first quarter of 2010, and construction would begin in the second quarter of 2010.

To receive FREE breaking news email alerts for El Paso Corp. and others in your portfolio


 1   2   Next Page 


Share Article:   Del.icio.us    Digg    Y! My Web    Facebook    My Space

Email        Print        

     
Top Stories
Wall Street Closes Lower For The Day, Mixed For The Week

Senate Democrats Fault GOP For Failing To Advance Alternative Health Reforms

New Guidelines Recommend Women Wait Until 21 For Cervical Cancer Screening

"New Moon" Takes Center Stage, Should Post Big Opening Weekend

Valero Energy To Permanently Shutter Delaware City Refinery - Update

Earnings
Triton Energy Slips To Q3 Loss - Quick Facts

Electronic Game Card Revises Q3 Results - Quick Facts

Schneider Power Swings To Profit In Q3 - Quick Facts

Scottish Re Group Swings To Profit In Q3 - Quick Facts

HydraLogic Systems Q3 Loss Narrows - Quick Facts

US Market Commentary
Bay Street Stocks Slip Slightly Again - Canadian Commentary

Stocks Close Mostly Lower Amid Disappointing Quarterly Results - U.S. Commentary

Stocks Remain Stuck In The Red In Mid-Afternoon Trading - U.S Commentary

Stocks Posting Moderate Losses In Early Afternoon Trading - U.S. Commentary

Stocks Seeing Further Downside In Late Morning Trading - U.S. Commentary

US Economic News
Fed's Fisher: "Too-Big-To-Fail" Must Be Addressed

Philly Fed Index Shows Much Bigger Than Expected Increase In November

Leading Indicators Index Increases For Seventh Straight Month In October

Philly Fed Index Jumps To 16.7 In November

Leading Indicators Index Rose 0.3% In October

Political News
Christian Leaders Unveil "Call To Faith" On Life, Marriage, Religious Freedom

Senate Ethics Committee Admonishes Burris But Finds No Legal Wrongdoing

Senate Democrats Fault GOP For Failing To Advance Alternative Health Reforms

Sen. Nelson Says He Will Vote To Proceed With Debate On Health Care Bill

Sen. Gregg Calls Ron Paul's Fed Audit Amendment "Political Pandering"




 
Markets End Week In Red
11/20/09 04:51
Partisan Debate Precedes Health Reform Vote
11/20/09 03:23
Wall Street Extends Losses
11/20/09 02:13
 

Today's Stocks to Watch
SVN - 7 Days Group Holdings Ltd.
SLW - Silver Wheaton Corp.
CPQQ.OB - China Power Equipment
LIMS - STARLIMS TECHNOLOGY
SPRD - Spreadtrum Communications Inc.
HEAT - SmartHeat Inc


Profit Taking Likely To Contribute To Continued Weakness – RTTNews Daily Market Analysis
The major index futures are currently indicating a notably lower open for stocks on Friday, with the markets likely to see some further downside after closing lower in each of the two previous sessions. With no major economic data on tap for the day, traders have looked to corporate news, including disappointing quarterly results from Dell (DELL). Traders may also continue to cash in on the recent strength in the markets that lifted the major averages to their best closing levels in over a year earlier in the week.

SLIDE SHOW: Pittsburgh Plays Host To Third G-20 Summit World leaders met at the G-20 summit in Pittsburgh, where they promised to maintain economic stimulus agreed to in London in April.
  Trading Center

 

Copyright © 2009 RTTNews. All rights reserved. By using this site, you agree to the Terms of Service.

Feedback| Terms of Service | How To Use RTTNews.com| Advertise| Buy Content | RSS