Business & Markets
China to Maintain Top Spot as World's Largest LNG Buyer Through 2025, IEA Says
China, the world's second-biggest economy after the U.S., last year overtook Japan as the world's top LNG buyer as Japanese demand is falling amid nuclear reactor restarts, the roll out of renewable energy and overall weak economic development.
FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
(P&GJ) — FERC has sided with Williams in a dispute with Energy Transfer, ruling that the Louisiana Energy Gateway project is a gathering network, not subject to federal jurisdiction. This clears the way for Williams to proceed with the project without regulatory oversight under the Natural Gas Act.
Goldman Sachs Predicts Brent Price Surge Amid Escalating Iran Tensions
Goldman Sachs said on Friday that it expects its Brent price forecast to peak $10-$20 per barrel in 2025 due to potential disruptions in Iranian production.
Chesapeake, Southwestern Complete $7.4 Billion Merger, Rebrand as Expand Energy
Chesapeake Energy and Southwestern Energy have officially completed their merger, forming a newly rebranded entity, Expand Energy Corp.
Tellurian Shareholders Approve $1.2 Billion Acquisition by Woodside
Tellurian shareholders have approved the proposed $1.2 billion acquisition by Woodside Energy, which includes the U.S. Gulf Coast Driftwood LNG export project. The deal aims to address Tellurian's financial challenges following setbacks and cancelled supply agreements.
TotalEnergies Wins LNG Supply Tender for Bulgargaz
Natural gas distribution company Bulgargaz said that French oil major TotalEnergies ranked first in a tender offer to supply LNG in November and December to the Alexandroupolis terminal in Greece.
Russia Sues Shell Units Over Energy Projects, Court Documents Reveal
Russia's Prosecutor General has filed a lawsuit against a number of energy major Shell's units, court documents showed on Friday.
Japan Becomes Top Buyer of LNG from Russia's Sakhalin 2
Japan is currently the biggest importer of liquefied natural gas (LNG) from Russia's Sakhalin 2 plant accounting for 57.5% of its exports, Interfax news agency quoted a company senior manager as saying on Thursday.
Product Shows Potential for Deepwater Flowlines
By combining polyvinylidene fluoride (PVDF), a high-performance polymer, with carbon fiber, the company can offer jumpers and flowlines for use in harsh environment carbon capture and storage (CCS) applications.
Occidental’s 1PointFive Wins $36 Million DOE funding for CO2 Sequestration Hubs
1PointFive, a subsidiary of Occidental, has secured $36 million in funding from the U.S. Department of Energy (DOE) to develop two carbon sequestration hubs in Texas and Louisiana.
Enbridge Green Lights $700 Million Pipeline Network Plans for Gulf of Mexico
Enbridge will construct and operate crude oil and natural gas pipelines for BP's Kaskida oil hub in the U.S. Gulf of Mexico, set to start production in 2029. Shell has also announced its final investment decision for the Rome Pipeline, which will transport oil from the project.
TC Energy's South Bow Pipeline Spin-Off Begins Trading on TSX
TC Energy's oil pipeline spin-off, South Bow Corp, started trading on the Toronto Stock Exchange, experiencing a slight decline on its debut. South Bow's main asset is the 622,000 barrel-per-day Keystone pipeline, which ships Canadian crude from Alberta to the U.S. Midwest and Gulf Coast.
Summit Midstream Acquires Tall Oak Midstream for $450 Million
Tall Oak operates a large gas gathering and processing system in the Arkoma Basin, featuring two natural gas processing plants with a total capacity of 220 MMcf/d and 411 miles of gas gathering lines.
EQT to Lay Off 15% of Workforce After $14 Billion Equitrans Acquisition
EQT Corp. plans to cut 15% of its workforce following its $14 billion acquisition of Equitrans Midstream. The layoffs, part of an integration process, mark the company's largest job reduction since 2019. EQT aims to boost natural gas margins amid fluctuating market conditions.
Australia's Santos and TotalEnergies Ink Mid-Term LNG Supply Deal
Santos has signed a mid-term liquefied natural gas (LNG) supply agreement with TotalEnergies' Singapore unit. The three-year contract, starting in late 2025, will see Santos supply up to 500,000 tons of LNG annually, further strengthening its LNG portfolio in the region.
New Energy Tanker Berths at Russia's Arctic LNG 2 Despite U.S. Sanctions
The U.S.-sanctioned LNG tanker New Energy has berthed at Russia's Arctic LNG 2 plant, according to ship-tracking data. Despite Western sanctions over Russia's actions in Ukraine, the Palau-flagged tanker continues operations, including a recent ship-to-ship transfer from the plant.
Brent Oil Traders Reroute U.S. Cargoes Using Little-Known Rule
Big energy traders are leveraging a little-known rule to reroute U.S. oil shipments meant for Europe, raising concerns about the effectiveness of recent reforms to the Brent crude price benchmark and its reflection of true market demand.
Vale, GEP Partner to Explore Green Hydrogen Opportunities in Brazil
Vale has partnered with Green Energy Park to explore green hydrogen production opportunities in Brazil. As part of its decarbonization efforts, Vale aims to develop "mega hubs" for steel production using renewable hydrogen, supporting Brazil's green energy transition.
U.S. Buys 6 Million Barrels of Oil for Strategic Petroleum Reserve
The U.S. Department of Energy has purchased 6 million barrels of oil for the Strategic Petroleum Reserve. The oil, sourced from Exxon Mobil, Shell Trading, and Macquarie Commodities, will be delivered monthly to the Bayou Choctaw site starting in February 2025.
Guyana Receives 27 Bids from Energy Giants for Crude Marketing Contract
Guyana has received 27 bids from major energy companies, including Shell and TotalEnergies, for a 12-month contract to market the government’s share of crude oil. The contract will cover exports from key oil projects, with deliveries expected in 1-million-barrel cargoes
From Crude to NGL: Understanding the Complexities of Pipeline Conversions
As Enterprise Products Partners LP expands its footprint in the Permian Basin, the conversion of existing pipelines raises both opportunities and challenges. This article delves into the complexities involved in repurposing energy infrastructure, highlighting technical, economic, and safety considerations amid robust production growth.
Venture Global Receives Approval to Advance Louisiana Calcasieu LNG Plant Toward Commercialization
Venture Global LNG has received approval from the U.S. Federal Energy Regulatory Commission (FERC) to reintroduce hazardous fluids to part of its Calcasieu LNG export plant in Louisiana. This critical step brings the plant closer to commercial operations after facing legal and regulatory challenges.
Shell Expands Gas Distribution Network in Nigeria
Shell plc’s Nigerian business, Shell Nigeria Gas (SNG), has struck a deal with a regional government in the country to develop a new gas distribution network to boost consumption by commercial and industrial entities for increased business performance.
Enbridge Acquires PSNC, Adding Over 13,000 Miles of Pipeline to Its U.S. Gas Utility Portfolio
Enbridge Inc. has completed its acquisition of Public Service Company of North Carolina (PSNC) from Dominion Energy. PSNC, now operating as Enbridge Gas North Carolina, serves over 600,000 customers and boasts an extensive network of over 13,000 miles of natural gas pipelines.
TotalEnergies, APA Approve $10.5 Billion Oil, Gas Project in Suriname
The small South American country wants to follow in the footsteps of neighboring Guyana, where a consortium led by Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas resources.
Exxon’s $1.28 Billion Asset Sale to Seplat Nears Approval, Says Nigerian President
Nigeria is struggling to raise output of oil, its biggest export earner, mainly due to theft of crude and pipeline vandalism in the Niger Delta, forcing companies like Exxon and Shell to look to deepwater projects for expansion.
Global News October 2024
Stay informed with the latest industry news and developments in the midstream sector. From pipeline projects to regulatory updates and company announcements, P&GJ's Global News column brings you the most important insights from around the world.
TotalEnergies to Showcase Low-Cost Oil Projects, Long-Term LNG Deals to Investors
Fresh off a flight from Suriname, TotalEnergies' CEO is expected to tell investors in New York on Wednesday that the energy giant can maintain returns through 2030 despite falling prices, thanks to low-cost oil projects like its most recent in the South American country.
Greece's New LNG Terminal Boosts Europe's Gas Supply Diversification
A new floating liquefied natural gas (LNG) storage and regasification unit (FSRU) started commercial operation off Greece's northeastern coast on Tuesday with the aim of diversifying supply of imported LNG to Europe.
Editor’s Notebook: TMX Expansion Faces Quality Concerns from West Coast Refiners
For a couple of months now, U.S. West Coast oil refiners have been voicing concerns about some of the attributes of crude oil being shipped along the recently completed Trans Mountain pipeline expansion (TMX) from Canada.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
