Business & Markets
Venture Global LNG Prepares Plaquemines Plant for Test-Mode Startup
Venture Global LNG received a vessel loaded with imported LNG this week and an authorization from a federal regulator to use nitrogen at its Plaquemines facility in Louisiana, signs of preparations for a test-mode start up.
U.S. Buys Nearly 2.5 Million Barrels for SPR, Totaling 7 Million Barrels Purchased Since July
The U.S. has bought nearly 2.5 million barrels of oil to help replenish the Strategic Petroleum Reserve after the largest sale ever from the facility in 2022, the Energy Department said on Friday.
Oil Tycoon Emmanuel Fritz Paret Acquires 100-Mile Natural Gas Pipeline in Kentucky Reserve Deal
The deal includes a 100-mile natural gas pipeline, which is crucial for supplying natural gas to Kentucky's aluminum industry, ensuring a steady energy flow.
Vietnam's Newest LNG Terminal Prepares for Commissioning with October Cargo
Vietnam's Cai Mep LNG terminal is seeking a cargo to initiate commissioning tests, two industry sources said, putting it on track to become the country's second terminal to bring in the fuel.
Tanker Arrives for Cooldown at Louisiana’s Plaquemines LNG Plant, Signaling Startup Phase
A tanker full of LNG has docked at Venture Global LNG's Plaquemines export plant in Louisiana, with another vessel, the Kwangyang, on its way to the facility, according to shipping data from LSEG on Friday.
Pemex Approved for $400 Million Boost in New 'Mexican Gas Frontier,' Includes Pipeline Expansion
Pemex has received approval to increase its investment in the Lakach deepwater gas project by $400 million, marking a significant step in Mexico's new 'gas frontier.' The expansion includes building additional pipeline infrastructure and comes as billionaire Carlos Slim signs a $1.2 billion contract with Pemex.
Philippines' Top Oil Storage Firm Seeks Strategic Investor, Valuation Could Reach $500 Million
Owners of Philippine Tank Storage International are seeking to bring a strategic investor into the company that runs the biggest petroleum products import storage facility in the country, sources told Reuters.
Enbridge Cuts Rates to Compete with New Trans Mountain Oil Route
Enbridge Inc. has reduced tolls on its Canadian oil export pipelines in response to heightened competition from a newly operational pipeline linking Alberta to Vancouver.
Niger Resumes Oil Exports via Benin After Suspension Amid Dispute
Landlocked Niger has resumed crude oil exports via Benin after a dispute between the countries halted the flow of oil through a new Chinese-funded pipeline to the West African coast, according to a pipeline company agent and ship tracking data on Wednesday.
Enbridge, Energy Transfer Confront Takeaway Capacity Crunch Amid Rising Production
Enbridge and Energy Transfer are tackling the challenge of increasing takeaway capacity amid rising U.S. oil and gas production. This exclusive P&GJ article provides an in-depth look at their latest infrastructure projects and market strategies.
Projects August 2024
Explore recent developments in energy infrastructure: Allseas completes the 163-mile Barossa pipeline, FERC approves Mountain Valley's $7.85 billion Virginia gas pipeline, Nigeria's AKK pipeline set for 2025 completion, Wison exits Arctic LNG 2, Enbridge faces Line 5 legal challenges, and more!
Global News August 2024
Latest industry developments from around the world!
Congress Stalls on Pipeline Safety Bill as PHMSA Nears Key Rule Decisions
Pipeline & Gas Journal Exclusive: As Congress heads toward the end of this session, presumably in late September, two different bipartisan pipeline safety bills passed by two House committees appears to be going nowhere fast.
Hungary's MOL Nears Final Agreement for Russian Oil Transport Amid Kyiv Ban
Hungary's MOL is in the final stages of talks to set up a scheme to ensure crude oil flows from Russia after Kyiv banned its main partner Lukoil's transport through its pipelines, a Hungarian government official said on Thursday.
Inpex Shuts One Train at Ichthys LNG Plant, Second Outage in a Month
One of the two trains at the Ichthys LNG plant in Darwin, Australia, has been shut since Aug. 20, operator Inpex Corp. said in an emailed statement on Thursday.
Russia's Novatek Postpones Arctic LNG 2 Third Line to 2028
Russian natural gas company Novatek has postponed the start of operations at the third line of the Arctic LNG 2 project to 2028 from 2026, RBC media reported on Thursday.
Final Phase of Gas Pipeline Decommissioning Begins in New Mexico’s Valles Caldera
(P&GJ) — The pipeline, which was constructed by the U.S. Department of Energy in the 1940s to supply natural gas to Los Alamos National Laboratory, was retired in 2022. Restoration work commenced the same year.
Editor’s Notebook: Alaska’s New LNG Pipeline Push Faces Long Odds
Pipeline & Gas Journal Exclusive: Alaska’s ambitious LNG pipeline project might seem like a game-changer, but significant hurdles remain. In this Editor’s Notebook, we dive into the latest developments, investor concerns, and what it all means for the future of U.S. energy exports. Can the Last Frontier overcome the odds?
Exxon Claims Hidden Value in Hess Guyana Assets Could Alter $53 Billion Chevron Deal
Getting the arbitration panel to consider the appraised value is central to Exxon's claim that the deal is an asset acquisition disguised as a merger.
NextDecade Withdraws FERC Application for Carbon Capture Project
NextDecade announced that its subsidiary, Rio Grande LNG LLC, has withdrawn its application with FERC for the proposed carbon capture and storage project at the Rio Grande LNG facility.
Pipeline Operator Enterprise Products to Buy Pinon Midstream for $950 Million
The oil and gas pipeline industry has seen increased consolidation since last year as U.S. production grows and as problems with permits for new pipelines have made existing operators more valuable.
Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
Ghanaian President Nana Akufo-Addo has broken ground on the construction of a 300,000 barrel-per-day oil refinery that the government hopes will turn the West African country into the region's petroleum hub, but critics say the project is flawed.
U.S. Oil Export Growth Slows as Output and Global Demand Wane
U.S. crude oil export gains should plateau in 2024 after years of strong growth, with domestic output expected to increase by the smallest amount since the pandemic at a time when global oil demand remains sluggish.
EnBW to Invest $1.1 Billion in Expanding Germany’s Hydrogen Network, Including Conversion of 155-Mile SEL Gas Pipeline
(P&GJ) — EnBW is set to invest $1.1 billion in Germany’s hydrogen infrastructure, focusing on integrating and converting the 155-mile SEL gas pipeline into a key component of the country’s expanding hydrogen network.
Caliche to Expand Gas Storage and Carbon Sequestration with Sixth Street Backing
The investment will fund the expansion of the Golden Triangle Storage facilities in Beaumont, Texas, and the Central Valley Gas Storage in Princeton, California, including the addition of two new natural gas caverns.
Kuwait and Qatar Discuss New 15-Year LNG Supply Deal from North Field
The deal would see Qatar providing Kuwait with 3 million metric tons per annum of the seaborne fuel over 15 years from its North Field project, which is expected to commence operation in 2026, four of the sources said.
EnerMech Secures Two Pipeline Pre-Commissioning Contracts in Malaysia
EnerMech has been awarded two pipeline pre-commissioning contracts in offshore East Malaysia. These contracts involve pre-commissioning work in both deep and shallow water environments.
Oklahoma Midstream Firm to Move Headquarters to Downtown Tulsa
Superior Midstream has announced that it will relocate its corporate offices to downtown Tulsa, with the move scheduled for January 2025.
Report: U.S. Oil, Gas M&A Activity Soars 57% in 2023 Amid Industry Consolidation
Dealmaking activity in the oil and gas industry increased 57% last year as energy companies boosted development spending, driven by higher cash flows from profits in prior years, according to a report released on Tuesday.
Petronas Teams Up with ADNOC, Storegga to Develop Carbon Capture in Malaysia
Malaysia' Petronas will collaborate with ADNOC and U.K.-based Storegga to evaluate carbon dioxide emissions storage in Malaysia, the companies said on Tuesday.
- 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
