Enron Pipelines Auctioned for 2bn

US bankrupt energy corporation Enron has gained $2 billion for its US natural gas pipelines.

The auction for Cross Country Energy's natural gas pipelines was won by a joint venture between Southern Union and General Electric Commercial Finance Energy Financial Services.

The lines were put on the block to raise money for the energy trader to emerge from Chapter 11 bankruptcy protection. The joint venture known as CCE Holdings will also take on $430 million of Cross Country's debt.