Energy delivery company CenterPoint Energy Inc. (CNP) today posted net earnings of 31 cents per share, in line with Zacks Consensus Estimate of 31 cents and lower than last year’s earnings of 39 cents. The company’s core regulated operations reported strong earnings results during the quarter despite the economic downturn. Net revenues in the quarter increased 60% over a year ago to $2,515 million, driven by revenue increases at the natural gas distribution and competitive natural gas sales & services businesses. Operating income reported in the quarter was down 15% year-over-year to $287 million, due to lower natural gas and natural gas liquids prices, a decline in natural gas throughput from the traditional basins and reduced basis differentials. Operating income at CenterPoint’s electric transmission & distribution segment improved 8% over last year to $218 million, consisting of $187 million from the regulated electric transmission & distribution ...

Calgary-based Enbridge Inc. (ENB) recently announced that it reached an agreement with subsidiaries of U.S. oil major Chevron Corp. (CVX), Norway’s StatoilHydro ASA (STO) and Japan’s Marubeni Corp. to construct and operate a 40-mile, 20-inch oil pipeline from the proposed Big Foot ultra deepwater development in the Gulf of Mexico.   The planned conduit is estimated to cost approximately $250 million and will transport about 100,000 barrels of oil per day to a subsea connection on existing deepwater pipeline infrastructure. It will be located approximately 170 miles south of the Louisiana coast and reach depths of up to 5,900 feet below water.   The proposed Big Foot pipeline will complement Enbridge’s previously announced plans to build the Walker Ridge offshore natural gas pipeline in the area for $500 million. Thus the company has committed a total of $750 million in pipelines to service oil and gas exploration

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Last week, the Department of State issued a permit for Enbridge Inc. (ENB) to build the US portion of a cross-border pipeline. This project, called Alberta Clipper, will transfer crude oil from the tar sands area of Alberta, Canada to Midwestern US refineries.

However, four environmental organizations have vowed to legally challenge the decision as they argue that the pipeline will bring greenhouse-gas intensive oil sands crude from Canada, thereby contributing to global warming.

The company, together with its 12% owned master limited partnership Enbridge Energy Partners LP (EEP), is developing the $3.2 billion Alberta Clipper project. It involves construction of a 1000 mile, 36-inch diameter, heavy crude oil pipeline from Hardisty, Alberta to Superior, Wisconsin, with an initial capacity of 450,000 barrels per day (Bbl/d), eventually expandable to 800,000 Bbl/d by adding pump and terminal stations.

Following receipt of the permit, Enbridge will immediately begin construction

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Gazprom and Azeri company Socar have signed a deal to give Russia the first rights to Azeri gas that was previously seen as reserved for the Nabucco pipeline.  Medvedev referred to the deal as a 'milestone' for cooperation in the future.  Gazprom will buy 500 million cubic meters of natural gas from Azerbaijan annually from 2010, with plans to increase orders.  The International Energy Agency has warned that Europe's gas supplies are at almost constant risk of disruption.  Russian and Ukrainian officials have met with international lending institutions to try and establish ways of paying for Russian gas.  Poland has signed an agreement with Qatar to receive one million tons of LNG annually from 2014.  Russian companies may invest in oil exploration and natural gas distribution in China, following an agreement between Beijing and Moscow ...

Energtek, Inc. is a leader in the development and commercialization of Adsorbed Natural Gas (ANG) technology. They develop technologies that deliver natural gas from any natural gas source to consumers even when no gas pipeline and compressing infrastructure is in place. Trading on NASDAQ’s OTCBB, Energtek Inc. (EGTK) has their corporate headquarters in Valley Stream, New York. Founded in 1998, Energtek operates in the United States, Asia, Europe, and the Middle East.

Energtek utilizes proprietary, low-pressure storage technology to provide this “well-to-wheel pipeless natural gas supply” solution. They provide these solutions for fleets of small vehicles and industrial consumers. Adsorbed Natural Gas (ANG) technology enables hi-tech and cost-effective storage of Natural Gas (NG) by maximizing the quantities of gas stored in a tank. Adsorption lessens the infrastructure, fueling, and energy costs when it comes to supplying consumers where there are no gas pipeline feeds or refueling infrastructure in place.

Adsorption

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