Altra Energy Technologies to Combine Electronic Trading and Information Management Units of Williams and Panhandle Eastern

Altra Energy Technologies L.L.C. has been formed through the combination of the electronic natural gas trading and information management subsidiaries of The Williams Companies, Inc. and Panhandle Eastern Corporation. The new entity will integrate the strengths of both companies' electronic trading system and energy information management systems, creating a leading-edge technology platform for the energy industry. Altra will be headquartered in Houston, with offices also in London, and will offer a range of energy information and trading services to the industry.

Key Takeaways:

• The new entity, Altra Energy Technologies L.L.C., will be a limited liability company owned equally by Williams and Panhandle Eastern, combining the strengths of both companies' electronic trading system and energy information management systems.
• Altra will integrate the energy networks, electronic trading system, and energy information management systems formerly operated by Williams Information & Trading Systems Co. of Tulsa and PanEnergy Information Services Company of Houston.
• The company will provide access to 13 interstate pipeline electronic bulletin boards (EBBs) as well as the energy trading products currently marketed by Williams, such as the Streamline(SM) system.
• Altra will assume Williams' role in the partnership with Natural Gas Exchange (NGX), a Calgary, Alberta-based unit of Westcoast Energy Inc., for the Streamline(SM) system.
• The company will also include PanEnergy's application software products, including Gas Management System (GMS) and Gas Transportation System (GTS).
• Altra's core business will be its Network Service, a private, secure energy network combining the current PanEnergy and Williams networks.

Statistics:

• 13 interstate pipeline electronic bulletin boards (EBBs) will be accessible through Altra's network.
• The Streamline(SM) system, an electronic trading network for natural gas, will be offered by Altra in U.S. and Canadian markets.
• GMS provides gas purchase, sale, and transportation management for producers, gatherers, marketers, LDCs, industrials, and power generators.
• GTS utilizes the strengths and tradition of Panhandle Eastern's top-rated LINK electronic bulletin board to provide interstate pipelines with transmission service scheduling, management, and customer interface.

Sources:

• Williams Companies, Inc.
• Panhandle Eastern Corporation
• PanEnergy Information Services Company
• Natural Gas Exchange (NGX)