|
Investments in domestic and international affiliates which are not controlled by Duke Energy but where it has significant influence over operations are accounted for by the equity method. These investments include undistributed earnings of $5 million and $21 million in 1998 and 1997, respectively. Duke Energy's share of net income from these affiliates are reflected in the Consolidated Statements of 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 United States. Investments include a 37.5% ownership interest in Maritimes & Northeast Pipeline and a 9.8% ownership interest in Alliance Pipeline.
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 worldwide. Significant investments include a 32.5% indirect interest in American Ref-Fuel Company, a 9.76% indirect interest in Hidroelectrica Piedra del Aguila S.A. and a 25% indirect interest in National Methanol Company, which owns and operates a methanol and MTBE (methyl tertiary butyl ether) plant 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.
| Investment in Affiliates |
|
 |
|
December 31, 1998 |
December 31, 1997 | December 31, 1996 |
|
|
| ( In millions) |
Domestic |
Int'l |
Total |
Domestic |
Int'l |
Total |
Domestic |
Int'l |
Total |
|
| Natural Gas Transmission |
$ |
104 |
|
$ |
37 |
|
$ |
141 |
|
$ |
67 |
|
$ |
-- |
|
$ |
67 |
|
$ |
46 |
|
$ |
-- |
|
$ |
46 |
|
| Field Services |
|
303 |
|
|
-- |
|
|
303 |
|
|
160 |
|
|
-- |
|
|
160 |
|
|
130 |
|
|
-- |
|
|
130 |
|
| Global Asset Development |
|
171 |
|
|
223 |
|
|
394 |
|
|
174 |
|
|
208 |
|
|
382 |
|
|
14 |
|
|
184 |
|
|
198 |
|
| Other Energy Services |
|
19 |
|
|
23 |
|
|
42 |
|
|
16 |
|
|
10 |
|
|
26 |
|
|
50 |
|
|
1 |
|
|
51 |
|
| Real Estate Operations |
|
5 |
|
|
-- |
|
|
5 |
|
|
2 |
|
|
-- |
|
|
2 |
|
|
5 |
|
|
-- |
|
|
5 |
|
| Other Operations |
|
17 |
|
|
-- |
|
|
17 |
|
|
36 |
|
|
13 |
|
|
49 |
|
|
60 |
|
|
13 |
|
|
73 |
|
|
|
| Total |
$ |
619 |
|
$ |
283 |
|
$ |
902 |
|
$ |
455 |
|
$ |
231 |
|
$ |
686 |
|
$ |
305 |
|
$ |
198 |
|
$ |
503 |
|
 |
|
