Duke Energy for Progress Energy of 13.7 billion (Reuters)

NEW YORK (Reuters) - Duke Energy (DUK)(N), has said Monday it has agreed to buy progress Energy Inc. (PGN).(N) of $ 13.7 billion in stock, creating the largest company of the U.S. power.

Offer of the Duke was a differential of 6.4% over the last 20 trading days, the company said, and the case would be accretive to earnings of the Duke in the first year.

The transaction would create a giant industry with approximately 7.1 million electricity customers in Carolina North, South Carolina, Florida, Indiana, Kentucky and Ohio and 57 000 megawatts of generating capacity.

Duke is currently the third U.S. utility and become the two most important production capacity and market value if the purchase is completed.

Which could create a barrier for regulators, which have blocked or created roadblocks in other transactions in recent years.

Duke said Progress Energy shareholders would receive 2.6125 Duke Energy shares for each share held or $46.48 per share, which represents a 4 percent premium to Friday close actions of the New York Stock Exchange.

Duke Energy said assume also approximately 12.2 billion of debt from progress energy. The company also plans to conduct a reverse stock split immediately prior to closing.

Jim Rogers, President and CEO of the Duke, was to become President of the new company, while Bill Johnson, President and CEO of progress would become CEO of the merged companies.

Duke Energy shares at $17.79 in the New York Stock Exchange is closed Friday.

Progress share rose 1% in Premarket trade at $45.20, then Duke dragged less than 1% at $17.70 actions.

(Reporting by Matt daily, additional reporting by Thyagaraju Adinarayan in Bangalore.) (Editing by Maureen Bavdek)

Duke Energy near deal to buy energy for progress: sources (Reuters)

NEW YORK (Reuters) - Duke Energy Corp. (DUK.)(N), the third largest company to US, is close to buy a contract to compete with progress Energy Inc. (PGN).(N) for more than 13 billion, according to sources familiar case.

Stock-based agreement would be low premium to market value of the progress 13.1 billion, a source said.

The Financial Times reported Saturday that the companies hope to announce agreement on Monday morning, but warned that some details still need to be so talks might be delayed or even derailed.

Two electricity companies are based in North Carolina and serve its customers in North Carolina and southern. Duke serves as some markets in the U.S. Midwest and progress also provides customers in Florida.

Duke last year alongside lost a bid for assets of the U.S. to German utility E.ON (EONGn.DE), but its CEO, Jim Rogers, a veteran of the industry leading public services in the past 21 years, has widely perceived as hungry to make acquisitions.

Duke and progress were not immediately available for comment.

(Reporting by Michael Erman, editing by Maureen Bavdek)

Energy noble may provide Israeli area LNG fuel correction says - Bloomberg

Noble Energy Ltd. can construct a factory of liquefied natural gas in Israel to gases in the region of Leviathan, correction fuel said, quoting Charles Davidson, President of the society.

Israel has more gas that he needs Records finds made in the Mediterranean, coast for two years by a group including the billionaire Isaac Tshuva Delek Group Ltd. and Noble, according to the energy. Construction of an undersea pipeline involves political risks in the construction of an LNG plant. Frozen fuel will then shipped in Europe and Asia, he says.

Noble can seek partners for LNG project according to the report. The Leviathan field can support two major facilities such as those developed at the Qatar, the report. Tamar and Leviathan discoveries can hold 25 billion cubic feet of gas, double reserves established in 2009, UK Noble, said December 29.

-Editors: Jane, Ching Lee, Aaron Sheldrick Shen

To contact the reporter on this story: Dinakar Sethuraman at Singapore in the dinakar@bloomberg.net

To contact the editor responsible for this story: Clyde Russell at crussell7@bloomberg.net

Conference on climate change research on energy for poor nations (voice of America)

Greg Flakus | Cancun, the 10 December 2010 Mexico talks about Brian Dames, Chief Executive of the South Africa public ESKOM, of a forum on sustainable development.

As the United Nations Conference of climate change in Cancun, the Mexico wraps until his last day, discussions continue on crucial issues such as the need to reduce gas emissions greenhouse simultaneously and to provide the world with more energy.  While nobody expects to significant progress towards a global treaty binding, Mexican officials say they see the progress made in certain areas and that the Conference provides an opportunity to many Governments and agencies to share ideas and forge agreements that are unique.

While delegates from more than 190 countries meet under Security tight in a nearby hotel, representatives of nongovernmental organizations, universities, regional groups and other entities are together in a General to proceed with the Conference Room their own programs.  A focal point discussed here in the past two weeks includes how industrialized countries can help developing countries not only to adapt to climate change, but it access to more energy to grow their economies.

Scientists rich nations say an increase in gas emissions greenhouse from the combustion of fossil fuels like coal and petroleum products were originally the Earth warm.  But how can the poor nations reduce emissions when the only way out of poverty is to increase the consumption of energy?

Speaking at a forum on sustainable development, Brian Dames, Chief Executive of South African public ESKOM, pointed out that his continent remains far behind in access to electricity.

"If you look at the continent during the night of a satellite is really the black continent and is the challenge that we have," said ladies.

Ladies note that access to energy in sub-Saharan Africa is approximately 25% compared to 90 per cent in East Asia yet African pay close to double the price of energy. He and other development experts say electric energy is essential in the fight against poverty in poor countries.

Organization of the United Nations has addressed this need by its global campaign for the universal energy access focuses on the use of clean energy. Already available technologies can help poor regions exploit local electrical grids and to use waste products in their neighbourhood for fuel.

Helge Marie Norheim, a vice President of Statoil Norway State oil company, says that his company works on projects in Africa to use biofuels to energy from other sources.

"Statoil energy companies are technology, competence and financial capacity to continue to provide for energy security, so that, at the same time meet the twin challenges of climate change," said Norheim.

Kandeh Yumkella, Director-General of a citizen of Sierra Leone, and United Nations Industrial Development Organization said power expansion in Africa resources add minimum amounts of gas emissions greenhouse in the atmosphere. But, he added, his favours organization using clean energy.

"Knowledge for solar, wind, hydro, biofuels mass - they are known."  If we can even use renewable technologies that are existing today and their contributions to emission will be negligible, Yumkella said.

A large part of the presentation of this Conference was on the transfer of wealth from the richest to the poorest to assist in the reduce emissions and adapt to changes that global warming will produce. For better energy systems, Yumkella said developing nations need the money, but technical assistance.

"There is much need for assistance from the United States, Europe and other support," added Yumkella.  "Also, there are many opportunities for South-South cooperation." China and the India, they developed indigenous techniques to use biomass using animal waste to be able to provide energy basis for the poor. »

The climate conference is winding, but many projects discussed here are only for starters. Participants in many forums that have taken place here say committed themselves to do their part to save the planet and their own community, regardless of what is or is not on a larger scale.

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