El Paso CEO says no rush on Asian plant sale
"We don't feel under any particular pressure (to accelerate the divesture timetable), but if the market has indeed improved and those aren't part of our long-range plans for the company we would sell at the right price," Foshee told reporters at a luncheon.
A banking source told Reuters earlier that the U.S. natural gas producer and pipeline company would likely select a buyer for the fleet of power plants with a capacity of more than 4,000 megawatts by the end of March.
Related News
Germany's Energy Crisis Deepens as Local Utilities Cry for Help
BERLIN - Germany’s fears that soaring power and gas prices could trigger a deeper crisis is starting to get real.
Several hundred local utilities are coming under strain and need support, according to the head of Germany’s largest energy lobby group. The companies, generally owned by municipalities, supply households and small businesses directly and are a key part of the country’s power and gas network.
“The next step from the government and federal states must be to secure liquidity for these municipal companies,” Kerstin Andreae, chairwoman of the German Association of Energy and Water Industries, told Bloomberg in Berlin. “Prices are rising,…
