AIG Financial Products launches partnership with Tenaska

AIG Financial Products, a member company of American International Group (AIG), has signed an agreement to purchase a 50% partnership interest in Tenaska Energy’s natural gas marketing companies Tenaska Marketing Ventures, Tenaska Marketing Canada, and Tenaska Gas Storage (collectively known as TMV)

The new joint venture will combine AIG-FP’s financial structuring and risk management capabilities with the physical natural gas marketing expertise of TMV. Financial terms of the transaction were not disclosed. AIG-FP and Tenaska will jointly guarantee the venture’s payment obligations.

“This partnership represents a natural and significant extension of AIG-FP’s commodities business into the physical commodities arena,” says Doug Poling, AIG-FP executive vice-president for energy and