PG&E proposes pipeline expansion for California market

The existing pipeline has been operating at near 100% of its 2.7/bcfd capacity for much of this year. PG&E will ascertain shipper interest in an additional 200/MMcfd of capacity by calling for preliminary bids for the capacity by Feb. 15, 2001. If there is sufficient interest in the expansion project, permitting with FERC will proceed. That process is expected to last 1 year.

Hong Kong, Dec. 20, 2000 – Moody௿½s Investors Service has withdrawn the Caa3 long term debt rating assigned to the US$153.55 million backed senior secured notes due 2004 of Panda Global Energy Company (PGE). The Notes have been exchanged before the final maturity date.

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