Second Quarter
 
Dauphin Island Gathering Partners (DIGP) to expand. DIGP, of which Duke Energy Field Services (Field Services) owns 37.3 percent, announced expansion of its Dauphin Island Gathering System to provide approximately 200,000 Dth/d of natural gas gathering service to offshore producers. It will be the first major northern outlet for natural gas from deep water offshore gas fields in the eastern Gulf of Mexico. Phase II will provide another 200,000 Dth/d capacity.
 
Mobile Bay Processing Partners (MBPP) to process natural gas for Mobil Corporation and Main Pass Producers. The Mobile Bay processing plant is southern Alabama’s first and will process up to 600,000 Dth/d. Construction began in December 1997. Field Services owns 49.5 percent of MBPP.
 

Millions viewed Crescent’s Sugarloaf development. The PGA BellSouth Classic on CBS brought Crescent’s Sugarloaf residential development and Greg Norman-designed golf course to national prominence. After 28 years at another club, Sugarloaf hosted the event for the first time. It drew millions of TV viewers and more than 160,000 spectators — achieving the first-ever sellout and making it the largest event in Atlanta since the Olympics. CBS commentators called it "the best new course" and golf pros ranked it one of the "top three" courses they played in 1997.
 
Duke Power continued its leadership of industry restructuring initiatives. Duke filed with The Public Service Commission of South Carolina the company’s proposal for restructuring the electric industry in the state. In North Carolina, legislation created a study commission to consider industry restructuring. Duke CEO Richard Priory was named to the commission.
 
Algonquin Gas Transmission Company began service to Connecticut Light and Power plant. Algonquin completed an eight-mile lateral and related facilities ahead of schedule — providing 83,000 Dth/d of firm service to the Middletown generation plant.
 
DE&S acquired Northrup, Devine and Tarbell Inc. This acquisition of the national hydropower and environmental engineering firm makes DE&S a major provider of services in hydropower engineering, and regulatory and environmental areas of water resource management.
 
Duke Power electric transmission crews strung 230 miles of fiber optic cable for lease in part to WorldCom. On another section of Duke’s electric transmission system, Duke strung a 104-mile section of cable that is the first in the world to include 144 optical fibers.
 
June 18 — Duke Power Company and PanEnergy Corp completed their merger — less than seven months after the announcement. Under terms of the merger, each share of PanEnergy Corp stock was converted to the right to receive 1.0444 shares of Duke Energy stock. On June 19 Rick Priory and Paul Anderson rang the opening bell of the New York Stock Exchange. The ceremony launched the first full day of trading for the new Duke Energy stock.
 
Duke Energy Power Services (Power Services) and The United Illuminating Company announced the Bridgeport Project. The $265 million, 520-MW natural gas-fired combined cycle power generation plant in Bridgeport, Conn., will be the state’s largest non-nuclear power plant. Duke will be majority owner.
 
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