On September 29, 1997, KeySpan Energy Corporation became the parent holding company of the Brooklyn Union Gas Company
. At the time, BUG was the 5th largest national gas distributor in the United States.
On Febrary 13, 1998, KeySpan Energy Corporation and Enron Capital & Trade Resources Corp. (ECT), a subsidiary of Enron Corporation
, announced an agreement whereby ECT would provide gas supply management services for Brooklyn Union Gas, the primary subsidiary of KeySpan Energy. Under the terms of this agreement, ECT assumed responsibility for managing Brooklyn Union's interstate pipeline transportation, gas supply and storage. At the time of the agreement, Enron’s press release stated the following:
”Enron is the world's leading integrated natural gas and electricity company. The company owns approximately $23 billion in energy related assets and delivers physical commodities and risk management and financial services to provide energy solutions to customers around the world.”
Risk management and financial services???? Certificate:
Registered First Mortgage Bond, issued in the 1970’sPrinter: Security-Columbian Bank Note Company Dimensions:
8” (h) x 12” (w) State: NY-New York Subject Matter: Utility Companies
| Natural Gas Companies Vignette Topic(s): Female Subject
| Globe Featured Condition:
Vertical fold lines, punch hole cancels in signature areas and body, and some toning from age.