El Paso pushes to reduce debt, exit trading

Troubled natural gas services provider and pipeline operator El Paso Corp has continued its effort both to reduce its debt with two further non-core-asset sales and to exit trading, with various management changes. But some industry sources are sceptical that it has done enough to reassure shareholders.

On January 25, Houston-based El Paso sold its 50% stake in CE Generation to TransAlta USA, a subsidiary of Calgary-based generator TransAlta Corp, for $240 million. The deal includes the right