Texaco Press Release - Texaco Launches Global Gas and Power Organization; Focus on Worldwide Markets
Focus on Worldwide Markets for Natural Gas, Natural Gas Liquids, Power & Syngas
FOR RELEASE: FRIDAY, JUNE 18, 1997
WHITE PLAINS, N.Y., June 18 - Texaco today formally launched Texaco Global Gas and Power (GG&P) to manage the company's worldwide natural gas, natural gas liquids, electric power and synthesis gas marketing and project development activities. The new organization combines three formerly separate business units: Texaco Natural Gas North America; Texaco Natural Gas International and Texaco's Alternate Energy Department.
Glenn F. Tilton, Texaco Inc. Senior Vice President and President, Global Businesses, said, "The mission of Texaco Global Gas and Power is to bring increased value to global customers across the entire energy value chain. Texaco is already a recognized leader in natural gas marketing, private power development and gasification; and, by operating in the global marketplace with a single voice, we can more effectively provide efficient and environmentally smart energy solutions for our customers."
Texaco Natural Gas - North America will continue the functions of the former North American unit while the company's international activities will be covered by two new units: International Marketing and Business Development; and Project Development and Operations.
International Marketing and Business Development, which will be headed by Graham H. Batcheler, is responsible for commercializing Texaco's gas reserves, for wholesale and retail gas marketing in mature, deregulated countries like the United Kingdom, and for the development of gas to liquid conversion processes. The group will also develop new market-driven midstream and downstream opportunities that utilize Texaco's power, natural gas and gasification competencies.
As new international businesses are initiated it will become the responsibility of GG&P's Project Development and Operations team, headed by James C. Houck, for further development, including bid submissions, contract negotiations, engineering, financing, construction and operations. Existing power generation operations and commercialization of Texaco's proprietary gasification technology are also the responsibility of this unit.
Texaco Natural Gas - North America, headed by Terry Hudgens, markets more than 3.3 billion cubic feet of natural gas and 325,000 barrels of natural gas liquids daily. It is responsible for the Texaco Star Center, a full-service natural gas marketing and services business that operates natural gas processing plants, intrastate pipelines and natural gas storage facilities. It also runs Texaco's Natural Gas Liquids business, engaged in worldwide product trading, wholesale propane marketing, asset management and operations, and global ship chartering. The unit also includes the interstate Sabine Pipe Line Company.
Worldwide, Texaco and its partners and affiliates operate private power generation facilities that produce more than 2,000 megawatts of reliable, low-cost power for internal use and for sale to utilities. The facilities also provide steam and thermal energy for enhanced oil recovery projects, refineries and manufacturing processes.
Additional projects under development include a 700- megawatt (MW) gas-fired power plant in Thailand and a 300-MW oil-fueled cogeneration facility in the Philippines. Texaco's gasification technology is also licensed for projects operating or under development in the U.S., Europe and Asia to provide syngas for the power, chemicals and refining industries.
Updated: June 1997