El Paso makes $198m from further asset sales

El Paso has now sold 21 of the 25 domestic power plants that it had in January agreed to sell to Northern Star for $746 million. With the close of the latest transaction, El Paso has received $569 million and eliminated $39 million of non-recourse debt from this group of power plants.

With regard to the LNG contracts, El Paso Merchant Energy in December 2003 assigned the contractual rights to all its upstream and downstream gas purchase and sales contracts at the Elba Island LNG terminal to