FERC Changes Course On Unocal Pipelines

Law360, New York (November 15, 2007, 12:00 AM EST) -- The U.S. Federal Energy Regulatory Commission acceded Thursday to a federal appellate court's ruling that it lacks jurisdiction over two Gulf of Mexico natural gas pipelines owned by Jupiter Energy Corp., a subsidiary of Oil Company of California (Unocal).

Also on Thursday, the commission announced proposed amendments to its interstate natural gas pipeline release regulations that would remove significant restraints on short-term capacity release transactions in an effort to cultivate more efficient capacity release markets, according to FERC.

Though previously FERC had fought tooth-and-nail to defend...
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