Business & Markets
Europe Takes Steps Toward Developing Hydrogen Pipeline Network
German energy firm RWE and Norwegian oil and gas producer Equinor are planning the construction of new combined-cycle gas turbines (CCGTs) in Germany, blue hydrogen production facilities in Norway, and the implementation of hydrogen pipelines between the two countries.
US LNG Exports Flat Despite Freeport LNG Partial Restart
U.S. exports of LNG were flat last month at 6.84 million tonnes, shipping data showed on Thursday, even as a long-idled Texas processing facility began shipping the fuel during an ongoing restart.
Tellurian Says Chairman Sold Stock Ahead of Looming End of Gunvor Contract
U.S. LNG developer Tellurian Inc. said in a federal filing late Wednesday that its Executive Chairman Charif Souki sold about $1.1 million of Tellurian stock days before an LNG purchase agreement with commodity trader Gunvor Ltd was set to expire on Feb. 28.
New Fortress Plans to Start Producing LNG at Altamira, Mexico in July
U.S. company New Fortress Energy Inc. said on Tuesday it planned to finish building its first Fast LNG unit in May before moving the plant to offshore Altamira in Mexico in June and producing LNG there in July.
Pipeline Operator Enbridge to Buy US Gulf Coast Gas Storage Facility for $335 Million
Calgary, Alberta-based pipeline operator Enbridge Inc. said it would buy a gas storage facility in Tres Palacios in the U.S. Gulf of Mexico coast region for $335 million to strengthen its LNG export business.
Mexico's Pemex Increased Gas Flaring at Top Field, Despite Pledge to Stop
In January, an estimated 1.3 billion cubic feet of gas were burned from four flares at the Papan and Perdiz plants meant to process gas from Ixachi, satellite data shows, up from 1 billion cubic feet in November when the promise was made.
Tellurian Faces New Setback as Financing Looms for $13 Billion Driftwood LNG Project
Tellurian Inc. is facing a new setback in a long-running effort to advance a $12.5 billion U.S. LNG export project. Commodities trader Gunvor Ltd. can walk away from a 10-year, about $12 billion commitment to buy LNG if Tellurian's Driftwood LNG project lacks a financial go-ahead, project financing and a full construction authorization by Feb. 28.
Enagas Buys 80-Mile Gas Pipeline Network in Northwestern Spain for $57 Million
Spanish grid operator Enagas has bought a 130-km (80-mile) gas pipeline network from energy firm Reganosa while selling the latter a 25% stake in its El Musel regasification plant in northern Spain, the companies said on Tuesday. The acquisition of the pipeline network cost $57.33 million.
Venture Global Strikes 20-Year LNG Supply Deal with Excelerate Energy
U.S. LNG company Venture Global LNG has agreed to supply 0.7 million tonnes of LNG per annum to Excelerate Energy Inc. for 20 years. The LNG will be delivered to Excelerate from Venture's Plaquemines LNG facility in Plaquemines Parish, Louisiana.
Harvest Midstream to Expand Gathering Infrastructure with Paradigm Midstream Acquisition
(P&GJ) — The North Dakota and South Texas assets are comprised of four wholly owned gathering systems known as the Charlson Gathering System, Van Hook Gathering System, Mountrail Gathering System, and Eagle Ford Gathering System. These systems consist of approximately 350 miles of trunk lines and gathering lines for oil, gas, and water.
Pioneer Natural Resources Denies Report of Acquisition of Range Resources
Oil and gas explorer Pioneer Natural Resources Co. said on Friday that it was not pursuing any business combinations, after Bloomberg News reported that the oil and gas explorer was considering an acquisition of smaller U.S. rival Range Resources Corp.
Pemex Deer Park, Texas Fire Broke Out in Crude Distillation Area
A Thursday night fire at Pemex’s 312,500 barrel-per-day Deer Park, Texas, refinery broke out in a crude distillation unit, said people familiar with plant operations. The sources did not know which of two Deer Park CDUs were hit by fire.
Say ‘Aloha’ to New Trend of Hydrogen Blending with Hawaii Gas
(P&GJ) — While most of the naphtha is converted to methane, some hydrogen is produced in the steam reformer process, resulting in hydrogen concentrations of up to 10% to 15%. As natural gas utilities around the world look to hydrogen as a potential solution to decarbonization, the decades of experience Hawaii Gas already has with a hydrogen blend provide an insightful study into the performance of equipment using hydrogen blends.
China’s Yulong Petrochemical in Preliminary Oil Deals with BP, Chevron
China's Yulong Petrochemical on Monday said it had signed a memorandum of understanding agreements with BP and Chevron to supply its 400,000 barrel per day greenfield refinery in northern China.
EPA: US 2022 Power Plant Emissions Fell on Switch from Coal to Gas
U.S. power plant emissions of pollutants that harm human health and warm the planet fell last year as the industry continued a switch from coal to natural gas, the Environmental Protection Agency said on Friday.
Oman's Abraj Signs Oil Drilling, Extraction Deal with Chevron, Kuwait Gulf Oil Company
Oman's Abraj Energy Services said on Saturday it had signed a five-year 'strategic partnership deal' with Kuwait Gulf Oil Company and Saudi Arabian Chevron to extract and drill for oil in Kuwait.
Russian Governor: Sakhalin-1 Oil, Gas Output Less Than Half of Plan in 2022
The project saw a sharp decline in output following the departure of U.S. oil and gas major Exxon Mobil after Moscow sent tens of thousands of troops into Ukraine on Feb. 24 last year.
East Africa Pipeline Project Kicks Up Climate Change Controversy
(P&GJ) — Construction of the 896-mile (1,443-km) cross-border East African Crude Oil Pipeline (EACOP) project continues to elicit objections, as well as strong arguments in its favor by the governments of Uganda and Tanzania. The main contentious issues are the possible adverse effects of the project might have climate change, and alleged human rights violations.
Russia Halts Oil to Poland Via Druzhba Pipeline, Says Refiner PKN Orlen
The halt in supplies via the Druzhba pipeline — which has been exempted from European Union sanctions imposed on Russia following its full-scale invasion of Ukraine — came a day after Poland delivered its first Leopard tanks to Ukraine.
FERC’s Pipeline, LNG Project Evaluations Looking at EJ
(P&GJ) — The Federal Energy Regulatory Commission (FERC) is devoting an increasing amount of attention and staff resources to the evaluation of impacts of interstate natural gas pipeline and LNG terminal projects on environmental justice (EJ) communities (that is, communities with disproportionately large minority and low-income populations).
ESG & Innovation: API Looks at Species, Habitat Conservation
(P&GJ) — The American Petroleum Institute (API) published a first-edition document focused on species and habitat conservation for onshore natural gas and oil production facilities that will help boost the industry’s existing practices to enhance environmental performance.
Trinidad to Begin Negotiations for Gas Deal with Venezuela in March
A deal would help revive the nation's gas production, which contributes a large part of its export revenue and has been in decline. The joint venture could supply gas to Trinidad's liquefied natural gas and petrochemical industry.
EOG Resources Says Low Natural Gas Prices Not Changing Drilling Plan
U.S. oil and gas producer EOG Resources on Friday said it had no plans to alter its strategy around new natural gas drilling, despite a sharp decline in prices this year. Rival producers, including Chesapeake Energy, Southwestern Energy and Comstock Resources, have said this month they are pulling back on drilling after U.S. gas prices tumbled 50% this year.
China Gas Holdings Secures LNG Supply Deals with Venture Global for 40-Year Term
China Gas Holdings has agreed to two 20-year LNG supply contracts with U.S. exporter Venture Global, adding to a flurry of deals signed between China and the U.S. since 2021. It would buy a total of two million tonnes per year of LNG from Venture Global under the two contracts with supply set to kick off in 2027.
Chesapeake Utilities to Develop Florida RNG Facility
(P&GJ) — FPU Renewables LLC, a subsidiary of Chesapeake Utilities Corp., will construct, own and operate a dairy manure renewable natural gas (RNG) facility, a press release announced on Feb. 21. The project represents a capital investment of $22 million, with the first injection of RNG projected to occur in 2024.
DNV Kicks Off Phase Two of Offshore Hydrogen Pipeline Project H2Pipe
(P&GJ) — Phase 2 of H2Pipe will include a feasibility-level design of offshore hydrogen pipelines and a risk assessment study to examine the safety aspects of offshore hydrogen pipelines. The project's primary outcome is expected to be a detailed guideline offering specific guidance for use in the design and re-purposing of offshore pipelines for hydrogen transport. Phase 2 of H2Pipe is planned to start in Q1 2023 and last 2 years.
Abu Dhabi's ADNOC Looks to Raise Up to $2 Billion from IPO of Gas Unit
State oil giant Abu Dhabi National Oil Co. (ADNOC) said on Thursday it has set a price range for an initial public offering (IPO) of its gas unit that could raise up to $2 billion and give ADNOC Gas an equity valuation of $47 billion to $50.8 billion.
Cheniere Initiates Permit Process for Key Sabine Pass Project Expansion
Cheniere Energy Inc. on Thursday initiated an expansion permit process of LNG export capacity at its key Sabine Pass plant in Louisiana after the exporter topped revenue estimate on strong demand following Russia's invasion of Ukraine.
Wintershall Dea Looks Ahead After Closing Door on Russia
Oil and gas producer Wintershall Dea, fresh from pulling out of its long-term partnership with Russia, will focus on growing its production elsewhere and building up carbon management for the long-term future, it said on Thursday.
Diamondback Energy Targets At Least $1 Billion in Non-Core Asset Sale; Beats Profit Estimates
U.S. oil and gas producer Diamondback Energy Inc said on Wednesday it was increasing its non-core asset sale target to at least $1 billion by the end of this year from $500 million. Additionally, the shale producer announced it beat Wall Street expectations for fourth-quarter profit, as tighter energy supplies following Russia's invasion of Ukraine boosted crude prices.
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