MADISON, Wis., September 2, 2004 (PRNewswire-FirstCall) — Alliant Energy Corp. announced that it successfully completed the sale of substantially all of the assets of NG Energy Trading, LLC to BP Canada Energy Marketing Corporation. NG Energy Trading, which is based in Oklahoma City, is part of Alliant Energy Resources’, Inc., (AER) Integrated Services (ISCO) business platform. AER is the parent company of Alliant Energy’s non-regulated businesses. The terms of the sale were not disclosed. BP Canada Energy Marketing assumed ownership of NG Energy Trading’s contracts on September 1.
Citing continued efforts to narrow its strategic focus to domestic utility operations, on July 13, Alliant Energy announced plans to divest three ISCO businesses including NG Energy Trading, its energy services business (Cogenex Corporation) and its energy management services business. “We’re very pleased to have so quickly and efficiently divested NG Energy Trading,” said Bill Harvey, Alliant Energy president and chief operating officer. “It is a reflection of Alliant Energy’s efforts to narrow our strategic focus and concentrate on those opportunities now available to us in our domestic utility operations.”
Alliant Energy is an energy-services provider that serves more than three million customers worldwide. Providing its regulated customers in the Midwest with electricity and natural gas service remains the company’s primary focus. Other key business platforms include the international energy market and non-regulated domestic generation. Alliant Energy is a Fortune 1000 company traded on the New York Stock Exchange under the symbol LNT. For more information, visit the company’s Web site at www.alliantenergy.com
BP Canada Energy Company is Canada’s leading natural gas value chain company. BP Canada Energy Company primarily explores for, develops, produces, processes, markets and trades natural gas and its derivatives. They are also leading oil and aviation product marketers, and are Canada’s leading lubricants brand. BP Canada is active in six provinces and two territories, while its marketing and trading activities span the nation and expand to the U.S. market.
As a premier producer of natural gas, BP Canada produces about half a billion cubic feet a day through its Western Canadian facilities located mainly in Alberta and British Columbia. BP ranks among the country’s top marketers and traders of natural gas. As a full participant in the integrated North American natural gas market, BP’s Gas and Power business reaches across the continent.