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Statement of Chair Lina M. Khan In the Matter of Exxon Mobil Corporation
Dissenting Statement of Commissioner Melissa Holyoak Joined by Commissioner Andrew N. Ferguson In the Matter of ExxonMobil/Pioneer Resources
FTC Approves Final Order in Exxon-Pioneer Deal
FTC Approves Final Order in Chevron-Hess Deal
XCL Resources Seeks FTC’s Prior Approval for Altamont Energy Acquisition
FTC Approves Final Order to Prevent Interlocking Directorate Arrangement, Anticompetitive Information Exchange in EQT, Quantum Energy Deal
QEP Partners/EQT Corporation, In the Matter of
FTC Acts to Prevent Interlocking Directorate Arrangement, Anticompetitive Information Exchange in EQT, Quantum Energy Deal
FTC Approves Modification of Final Order Related to NEXUS Gas Transmission, LLC, a Natural Gas Joint Venture
DTE Energy Company, In the Matter of
Joint venture NEXUS Gas Transmission, LLC, and its member companies, DTE Energy Company and Enbridge Inc., settled Â鶹´«Ã½ Trade Commission charges that the joint venture’s acquisition of an Ohio pipeline would likely harm competition to provide natural gas pipeline transportation in a three-county area that includes Toledo, Ohio. The complaint alleged that NEXUS’s purchase of Generation from North Coast Gas Transmission LLC (“North Coastâ€) and several other owners is anticompetitive due to a non-compete clause that keeps North Coast from competing to provide natural gas pipeline transportation, for three years after the acquisition closes, in parts of the Ohio counties of Lucas, Ottawa, and Wood. The 2019 consent agreement preserved competition by requiring the parties to eliminate the non-compete clause from the sales agreement. Also, absent prior Commission approval, Nexus, DTE, and Enbridge were barred from participating in a written or oral agreement that restricts competition between any of them and another provider of natural gas pipeline transportation in the Ohio counties of Lucas, Ottawa, and Wood. On Sept. 24, 2021, the FTC announced a petition from DTE to reopen and modify the 2019 order. The Commission announced approval of the order modification on November 24, 2021.
Petition of Respondent DTE Energy Company To Reopen and Modify Decision and Order
FTC Requests Public Comment on DTE Energy Company’s Application to Modify Final Order Settling Competition Concerns Related to Natural Gas Joint Venture
Statement Regarding Berkshire Hathaway Energy’s Termination of Acquisition of Dominion Energy, Inc.’s Questar Pipeline in Central Utah
Concurring Statement of Commissioner Christine S. Wilson in the Matter of DTE Energy Co., Enbridge Inc., and NEXUS Gas Transmission LLC
Joint Statement of Commissioners Rohit Chopra and Rebecca Kelly Slaughter in the Matter of DTE Energy/Generation Pipeline
FTC Approves Final Order Preserving Competition in 3 Natural Gas Production Areas off the Coast of Louisiana
Enbridge and Spectra Energy
Enbridge Inc. and Spectra Energy Corp agreed to settle FTC charges that their proposed merger likely would harm competition in the market for pipeline transportation of natural gas in three production areas off the coast of Louisiana. According to the FTC’s complaint, the merger likely would reduce natural gas pipeline competition in three offshore natural gas producing areas in the Gulf of Mexico—Green Canyon, Walker Ridge and Keathley Canyon—leading to higher prices for natural gas pipeline transportation from those areas. In portions of the affected areas, the FTC alleged, the merging parties’ pipelines are the two pipelines located closest to certain wells and, as a result, are likely the lowest cost pipeline transportation options for those wells. According to the FTC, the merger would give Canada-based Enbridge an ownership interest in both pipelines, which will give it access to competitively sensitive information of the Discovery Pipeline, as well as significant voting rights over the Discovery Pipeline. Access to its competitor’s competitively sensitive information and significant voting rights would provide Enbridge with the incentive and opportunity to unilaterally increase pipeline transportation costs for natural gas producers located in the affected areas. The exchange of information also may increase the likelihood of tacit or explicit anticompetitive coordination between the Walker Ridge Pipeline and the Discovery Pipeline. Under the settlement with the FTC, the companies have agreed to conditions that will preserve competition in those areas.The consent agreement requires Enbridge to establish firewalls to limit its access to non-public information about the Discovery Pipeline. Board members of the Spectra-affiliated companies that hold a 40 percent share in the Discovery Pipeline must recuse themselves from any vote involving the pipeline, with two limited exceptions. Also under the order, Enbridge must notify the Commission before acquiring an ownership interest in any natural gas pipeline operating in the Green Canyon, Walker Ridge and Keathley Canyon areas, or increasing the 40 percent ownership interest of Spectra affiliate DCP Midstream Partners, LP in the Discovery Pipeline.
FTC Closes Investigation into Merger of Energy Transfer Equity, L.P., and The Williams Companies, Inc.
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