Southern Company Energy Marketing to manage CanWest Gas Supply Inc.
CALGARY, Alberta Southern Company Energy Marketing has signed an arrangement to manage the business of CanWest Gas Supply Inc., the largest natural gas aggregator in British Columbia.
The arrangement is similar to one Southern Company Energy Marketing signed June 1 with Pan-Alberta Gas Ltd. Southern Company Energy Marketing also established a Canadian energy marketing operation in Calgary June 1, staffing it with former Pan-Alberta employees.
With the Pan-Alberta operations, Southern Company Energy Marketing now markets about 8.2 billion cubic feet of natural gas per day, and the CanWest agreement will add another 500 million cubic feet per day.
As an aggregator, CanWest, which is owned by 38 Western Canada natural gas producers, buys approximately 430 million cubic feet per day of gas from more than 100 natural gas producers. Southern Company Energy Marketing plans to hire some CanWest employees.
Southern Company Energy Marketing is jointly owned by Southern Energy Inc. and Vastar Resources Inc. Southern Company Energy Marketing provides energy marketing, risk management and financial services and other energy-related commodities, products and services to customers in North America.
Southern Energy Inc. with operations in 13 countries on five continents develops, builds, owns and operates power production and delivery facilities and provides a broad range of services to utilities and industrial companies around the world.
Southern Energys parent company, Southern Company (NYSE: SO), is the largest producer of electricity in the United States, and is also the parent firm of Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric.
Caution regarding forward-looking statements:
The information presented above includes forward-looking statements, in addition to historical information. Southern Energy cautions that there can be no assurance that such indicative results will be realized and that there are various important factors that could cause actual results to differ materially from those indicated in the forward-looking statements, such as, but not limited to (i) changes in government regulations (including environmental regulations) and anticipated deregulation of the electric energy industry; (ii) additional competition in Southern Energys markets; (iii) potential business strategies, including acquisitions or dispositions of assets that Southern Energy may pursue; (iv) political, legal and economic conditions and developments in Southern Energys markets; (v) financial market conditions and the results of financing efforts; (vi) changes in commodity prices and interest rates; (vii) weather and other natural phenomena; (viii) the performance of Southern Energy projects and investments and the success of efforts to develop new opportunities; and (ix) other factors, whether discussed above or in reports filed by Southern Energy and Southern Company (and its subsidiaries) with the Securities and Exchange Commission.