Business & Markets
OMV Makes Austria’s Largest Natural Gas Discovery in 40 Years
(P&GJ) — OMV has announced the Wittau Tief-2a exploration well to be a confirmed new natural gas discovery – the country's largest natural gas discovery in 40 years. The OMV operated well is in Lower Austria and was drilled at a final depth of 5,000 meters after five months of operations.
BP Sign 10-Year LNG Supply Agreement with OMV
(P&GJ) — BP and OMV have signed a long-term sale and purchase agreement covering the supply of up to 1 million tonnes of LNG per year for ten years from 2026.
TC Energy to Spin Off Oil Pipeline Business, Focus on Natural Gas
North American pipeline company TC Energy, which has been seeking to sell assets and cut debt, said on Thursday it would spin off its oil pipeline business and focus on transporting natural gas, saying the businesses would be more valuable apart.
Germany's Updated Hydrogen Strategy Sees Heavy Reliance on Imported Fuel in Future
The German cabinet approved a new hydrogen strategy, setting guidelines for hydrogen production, transport infrastructure and market plans.
Wintershall Dea CEO Says Exiting Russia Gets Harder by the Day
Mario Mehren, CEO of Wintershall Dea, stated that the company's exit from Russia, announced in January, is challenging due to deep ties, including a stake in the Nord Stream gas pipeline shipping gas directly from Russia to Germany.
Shell Expects Venture Global LNG Supply Deal to Be Honored, CEO Says
Top LNG trader Shell expects its agreement with Venture Global LNG to supply liquefied natural gas to be honored, but does not see this happening at the moment, CEO Wael Sawan said on Thursday.
Mitsubishi Power Delivers Hydrogen-Ready Gas Turbines to Utah Project
(P&GJ) — Mitsubishi Power Americas has delivered two M501JAC advanced-class gas turbines to the Intermountain Power Project (IPP) Renewed project in Delta, Utah. A pipeline from the ACES Delta hub will feed the IPP Renewed project with hydrogen to operate the J-Class turbines.
Italy's Saipem Sees Progress Towards Resuming Mozambique LNG Project
Italian energy services group Saipem on Thursday said efforts to restart a multibillion-dollar LNG project in Mozambique for TotalEnergies were underway but refrained from giving a precise timeline.
Supreme Court Approves Completion of 303-Mile Mountain Valley Gas Pipeline
The justices granted Mountain Valley Pipeline LLC's request to lift stays imposed by a lower court that had halted construction of a final short section of the 303-mile (488-km) natural gas pipeline. That section is a 3.5-mile (5.6-km) corridor through the federally owned Jefferson National Forest.
Edison's Profit Drops 7% to $207 Million Due to Venture Global's LNG Cargo Delays
Edison said its first-half net profit fell 7% year-on-year to $207 million, dented by a delay in LNG deliveries from the United States. Likewise, Shell and BP have separately filed for arbitration against Venture Global LNG for failing to supply contracted cargoes.
354-Mile Vaca Muerta Pipeline Needs Investment to Deliver Argentina's Gas Dreams, Experts Say
Argentina could export the same amount of gas it consumes — about 2 trillion cubic feet (Tcf) — annually, but that would require investments of $40 billion, Javier Iguacel, Argentina's former energy minister, said.
EQT in Deal with Energy Transfer Louisiana Lake Charles LNG Export Plant
EQT, the biggest U.S. natural gas producer, entered into an LNG agreement with U.S. energy firm Energy Transfer's proposed Lake Charles LNG export plant in Louisiana.
Maryland Cove Point LNG Feedgas Drops After TC Energy’s Gas Pipe Explodes in Virginia
The shutdown of part of Canadian energy company TC Energy's Columbia Gas Transmission Pipeline in Virginia after a fire on Tuesday has reduced the amount of gas flowing to the Cove Point LNG export plant in Maryland, the plant told customers.
EIA: US Crude, Fuel Stockpiles Fall as Imports Drop
Crude inventories fell by 600,000 barrels in the week to July 21 to 456.8 million barrels, the EIA said, much less than analysts' expectations in a Reuters poll for a 2.3-million-barrel drop.
Spain's Enagas to Gauge Hydrogen Appetite as It Seeks EU Subsidies
Spanish natural gas grid operator Enagas is to start gathering data on hydrogen supply and demand as it moves forward with plans for national and international hydrogen pipelines it expects will get significant European Union subsidies.
Voyager Midstream Secures Equity Commitment from Pearl Energy Investments
(P&GJ) — Texas-based Voyager Midstream Holdings has secured an initial capital commitment from Pearl Energy Investments to pursue the acquisition and development of crude oil, natural gas, and produced water infrastructure across key North American supply basins.
Black Bear's AlaTenn Pipeline Commences Gas Deliveries to New Power Plant Units
(P&GJ) — Black Bear's AlaTenn pipeline system has started delivering natural gas supply for the commissioning of three new natural gas-fueled power plant units in Alabama’s Colbert County.
Australian Firm FFI Dives into U.S. Market with Phoenix Hydrogen Hub Acquisition
(P&GJ) — Australian green hydrogen developer Fortescue Future Industries (FFI) has made its first move into the U.S. market by purchasing the Phoenix Hydrogen Hub (PHH) project in Buckeye, Arizona, from fuel-cell truck manufacturer Nikola for $24 million.
Changing Ownership Structure of Africa’s Pipeline Companies
(P&GJ) – Recent buying and selling of upstream oil and gas assets in Africa has opened new growth opportunities for the region’s pipeline market as new players make entry into the management and ownership structure of existing pipeline operating companies.
Developments in Custody Transfer Metering of Natural Gas
(P&GJ) — Natural gas has become an even more important energy source as the world looks to transition away from coal-fired power plants. Natural gas emits about half of the carbon emissions as coal, so it has many countries looking to adopt it as a larger part of their energy infrastructure.
Pertamina, Petronas to Buy Shell's Masela Gas Stake for $650 Million
Indonesia's Pertamina and Malaysia's Petronas signed an agreement with Shell on Tuesday to buy its 35% stake in the Masela natural gas block for up to $650 million, moving the project forward after years of delay.
U.S. Oil M&A Jumps as Private Equity Unloads Shale Assets
U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals.
Egypt Aims to Resume Gas Exports by October, Minister Says
Egypt is targeting a resumption of LNG exports by October at the start of autumn, petroleum minister Tarek El Molla told reporters on July 19.
Canada Releases Framework to Phase Out Inefficient Fossil Fuel Subsidies
Climate policy analysts said the framework was an important step forward but fell short in continuing to allow government support for oil and gas projects that plan to reduce emissions through technologies such as carbon capture and storage (CCS).
US to Spend $700 Million for Oil and Gas Sector to Cut Methane Emissions
The U.S. government will provide up to $700 million in funding to monitor and reduce methane emissions from the oil and gas sector, setting aside half of the amount for grants to states, two agencies said on Monday.
TC Energy Sells 40% Stake in Columbia Gas Transmission Pipelines to GIP for $4 Billion
Canada's TC Energy has agreed to divest a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines, which span more than 15,000 miles and deliver a substantial portion of daily U.S. natural gas demand, for $3.95 billion to Global Infrastructure Partners (GIP).
Managing Lost and Unaccounted for Gas Volumes
(P&GJ) — Lost and unaccounted for (LAUF) gas is a calculated value that compares the amount of gas coming into a system (purchased) to the amount of gas leaving that system (sold or otherwise accounted for). Although LAUF is often equated to leaking pipes and equipment, leaks generally only represent a small portion of the value.
Importance of Moisture Analysis in Pipeline Transportation
(P&GJ) — Nearly every substance is affected by moisture, which can alter physical, chemical and electrical properties. When transporting hydrocarbons such as natural gas, the presence of moisture in the pressurized stream can create serious problems.
India's ACME Group Gets $490 Million in Funding for Oman Project
Indian renewable energy company ACME Group said on Friday it raised $487.98 million in fresh funding from infrastructure finance firm REC, to start its green hydrogen and ammonia project in Oman.
Venezuela Expects to Sign Gas Licenses by Year-End, Oil Minister Says
Venezuelan expects to sign licenses by year-end for developing the nation's vast natural gas reserves, oil minister Pedro Tellechea said on Friday, even amid U.S. sanctions.
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- Cheniere Seeks FERC Approval to Expand Sabine Pass LNG Facility
- Heath Consultants Exits Locate Business to Expand Methane Leak Detection Portfolio
