8- INVESTMENT IN AFFILIATESInvestments in domestic and international affiliates which are not controlled by Duke Energy but where Duke Energy has significant influence over operations are accounted for by the equity method. These investments include undistributed earnings of $6 million and $5 million in 1999 and 1998, respectively. Duke Energy's share of net income from these affiliates is reflected in the Consolidated Statements of Income and Comprehensive Income as Other Operating Revenues.
-NATURAL GAS TRANSMISSION
Investments primarily include ownership interests in natural gas pipeline joint ventures which transport gas from Canada to the U. S. Investments include a 37.5% ownership interest in Maritimes & Northeast Pipeline, L.L.C.-FIELD SERVICES
Investments primarily include a 37% interest in a partnership which owns natural gas gathering systems in the Gulf of Mexico (Dauphin Island Gathering Partners) and a 21.1% interest in TEPPCO.-GLOBAL ASSET DEVELOPMENT
Global Asset Development has investments in various natural gas and electric generation and transmission facilities in its targeted geographic areas. Significant investments include a 50% indirect interest in VMC Generating Company, a merchant electric generating company, a 36.8% indirect interest in American Ref-Fuel Company and a 25% indirect interest in National Methanol Company, which owns and operates a methanol and MTBE (methyl tertiary butyl ether) business in Jubail, Saudi Arabia.-OTHER ENERGY SERVICES
Investments include the participation in various construction and support activities for fossil-fueled generating plants.-REAL ESTATE OPERATIONS
Investments include various real estate development projects.-OTHER OPERATIONS
Investments include a 20% interest in the BellSouth PCS L.P. joint venture, which provides wireless personal communication services.
