text_combined: engage split upon merger el paso coastal westcoast coastal split engage energy assets prepare el paso energy looming takeover coastal corp westcoast energy inc coastal splitting engage energy three year old marketing venture retaining half interest houston based gas marketer split completed end week coastal headquartered houston merge el paso energy 16 billion deal end fourth quarter see daily gpi jan 19 company officials said several transactions needed completed merger could finalized including dismantling engage venture vancouver based westcoast coastal 50 interest engage 12 regional offices throughout north america employs 300 one top north american gas marketers purchases natural gas every producing basin north america trades electricity within nerc regions engage estimates add another 1 bcf natural gas deliverability end year ngi ranked engage 12 th place 1999 north american power marketers list dropping eighth place 1998 losing 15 2 sales engage reported sales volume 5 6 bcf last year compared 6 6 bcf previous year sold estimated 2 100 bcf natural gas 1999 westcoast coastal formed engage 1997 offer full spectrum energy services including natural gas marketing trading electricity trading sales energy management services structured storage transportation related services structured power management services energy risk management services companies said services would continue expected little impact either company existing asset valuation restructuring plan westcoast retain engage canadian business entity certain natural gas power activities united states westcoast also retain right use engage energy name continue conduct business calgary southfield mi u locations coastal retain u business entity headquarters houston taking full ownership natural gas electricity marketing trading functions better capitalize knowledge experience track record infrastructure built past three years said michael phelps westcoast ceo coastal merges el paso joining company already strong gas marketing arm ngi ranked el paso seventh list gas marketers 1999 noting traded 6 7 bcf natural gas last year also ranked seventh 1998