Printer Friendly
The Free Library
18,914,768 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

BG North America Purchases Dighton Power Plant.


HOUSTON -- BG North America, a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of BG Group plc (NYSE NYSE

See: New York Stock Exchange
:BRG BRG Bridge
BRG Bearing
BRG Bundesrealgymnasium (German: state secondary school)
BRG Bureau des Ressources Genetiques (France)
BRG Business Relations Group
BRG British Racing Green
BRG Best Regards
), today announced its purchase of 100 percent interest in the 170MW, gas-fired, Dighton Power Plant located in Bristol County, Massachusetts Bristol County is a county located in the Commonwealth of Massachusetts, adjacent to the state of Rhode Island. As of 2005, the population was estimated at 546,331. The county level of government is currently of diminishing importance in Massachusetts, with most governmental  from Calpine Corporation. BG will pay $90.2 million for the assets of Dighton Power Associates and fund the acquisition through internal sources. The purchase has been approved by the bankruptcy court with closing expected to occur shortly after receiving Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates.  (FERC FERC Federal Energy Regulatory Commission
FERC FEMA Emergency Response Capability
) and Hart-Scott Rodino approvals.

The Dighton Power Plant is located in Bristol County, Massachusetts and supplies power into the ISO (1) See ISO speed.

(2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI.
 New England (ISO-NE), a well established, mature and liquid power market.

Executive Vice President and Managing Director of BG North America Caribbean and Global LNG, Martin Houston said:

"This acquisition is an important milestone for BG as it establishes our position in one of the world's largest power markets. Dighton provides us with a platform to leverage our significant LNG position in the United States. We are already a gas supplier to the northeast U.S. and this acquisition will now allow us to add power as part of our portfolio of energy services.

Power continues to be a strong driver of long-term gas demand and we are looking forward to the exciting possibilities that will come from the integration of the Dighton asset into our North American portfolio."

There are matters discussed in this media information that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward-looking statements, refer to the Company's annual report and accounts for the year ended Dec. 31, 2005.

Notes to Editors:

BG Group

BG Group is a global natural gas business. Active on five continents in over 20 countries, it operates four business segments -- Exploration and Production, LNG, Transmission and Distribution and Power.

BG Group develops, owns and operates gas-fired power generation plants in the following areas:

Europe and Central Asia

--Ireland - Premier Power Limited - a wholly owned subsidiary of BG Group

--UK - Seabank Power Limited - 50:50 joint venture with Scottish and Southern Energy

--Italy - BG Group 33.68 percent interest in SERENE, a joint venture company

Asia Pacific

--Malaysia - Genting Sanyen Power - BG has a 20 percent interest and holds a 21 year contract to sell power to the Malaysian national power company.

--The Philippines - The Santa Rita Power Station is owned by First Gas Power Corporation (FGPC FGPC Finance and General Purposes Committee (UK) ), a 100 percent subsidiary of First Gas Holdings Corporation (FGHC FGHC - Flat GHC. A flat variant of GHC in which guard calls can be only to primitives.

See also KL1.
), in which BG Group has a 40 percent interest. The remaining percent of FGHC is owned by First Generation Holdings Corporation (First Generation), which is a subsidiary of First Philippines Holdings Corporation (FPHC FPHC Foreign Personal Holding Company
FPHC Florida Palliative Home Care
FPHC Filtering Platform Helper Class
). The San Lorenzo Power Station - BG Group, in partnership with Unified Holdings Corporation, a 100 percent subsidiary of First Generation, developed, financed and constructed the San Lorenzo power plant through a special purpose company FGP Corp, in which BG Group has a 40 percent interest and Unified Holdings Corporation has a 60 percent interest.

BG North America

In the United States, BG LNG Services LLC, (BGLS BGLS Bisexual and Gay and Lesbian Students ) holds, through 2028, 100 percent of the capacity rights at North America's largest operating LNG importation terminal, Lake Charles in Louisiana. This facility has the capability to receive, store, vaporise and deliver an average daily send out of 1.8 billion cubic feet per day (bcf/d).

Additionally, BGLS currently holds supply and regasification rights of 446 million standard cubic feet per day (mmscf/d) for 22 years at the Elba Island LNG terminal near Savannah, Georgia. Expansion work is expected to increase our throughput capacity to 1.17 bcf/d from 2012.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:4EUUK
Date:Sep 13, 2006
Words:619
Previous Article:Profit Technologies Shares Best Practices at CBAI Annual Conference; Profit Technologies Addresses the Banking Environment, Obstacles, and Courtesy...
Next Article:AUDIO from Medialink: Credit Education 101.
Topics:



Related Articles
Great Lakes committed to competitive rates. (Great Lakes Power of Sault Ste. Marie) (Northern Achievement)
Yemen - BG Is Negotiating To Take All The LNG To India.
Edison Dumps Coal Plant.(Brief Article)
EGYPT - British Gas - Idku LNG Project.
EGYPT - LNG Export Ventures: BG - Idku LNG Project.
Egyptian LNG Works On 3rd Train As BG Group Consolidates East-West Marketing.
Egypt Boosts French Gas Major's Role In Brand LNG Trade; 3rd Train Go Ahead.
Iran-China LNG Business: BG/Idku - Egyptian LNG.
TUNISIA - The Gas Market.
Full power.(PANORAMA)

Terms of use | Copyright © 2010 Farlex, Inc. | Feedback | For webmasters | Submit articles