Business & Markets
India's GAIL Close to Finalizing Qatar LNG Purchase Deal
The deal would be part of GAIL's plans to lock in new supply contracts by 2030 to diversify its gas imports and hedge against supply disruptions like those seen after Russia's invasion of Ukraine last year, when LNG prices surged to a record high.
Wood Completes FEED Studies for 2,000 Miles of Low Carbon Pipeline Projects in North America
(P&GJ) — Wood has announced that it is delivering concept and front-end engineering and design (FEED) studies for nearly 2,000 miles of onshore low-carbon pipelines in North America.
LNG Terminal Developer Crown to Go Public via $685 Million SPAC Deal
Crown LNG Holdings, which develops LNG terminals to operate in harsh weather conditions, has agreed to go public in New York by merging with a blank check firm in a deal that values the combined company at $685 million.
Strathcona to Acquire Rival Pipestone Energy, Forming Canada's 5th-Biggest Oil Company
Canadian oil producer Strathcona Resources on Tuesday said it will go public by acquiring smaller rival Pipestone Energy Corp. in an all-stock deal to create a combined business with a market capitalization of $6.49 billion.
US Shale Firm CEO Predicts $80-$100 a Barrel of Oil Through 2024
Oil prices will range between $80 and $100 a barrel this year and next as demand outpaces supply, Scott Sheffield, chief executive officer of top shale firm Pioneer Natural Resources, said on Wednesday, citing output cuts by Saudi Arabia and underinvestment by U.S. producers.
Venezuela Appoints New Gas Vice President at State Company PDVSA
Venezuela has appointed a new vice president at PDVSA who will lead the state company's gas operations, a key move as the South American country negotiates licenses with foreign companies to develop its mostly untapped natural gas reserves.
US Pulls Back Offer to Buy 6 Million Barrels of Oil for Emergency Reserve
The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep rising after an output cut from Saudi Arabia.
Chesapeake Energy Profit Slides on Lower Natural Gas Prices
Chesapeake Energy on Tuesday posted a fall in second-quarter profit due to lower natural gas prices and production.
Israel Energy Minister Backs More Natural Gas Exports
Israel's energy minister said on Wednesday that more of the country's natural gas reserves should be earmarked for export, amid renewed interest in offshore exploration and an ongoing debate on whether the gas should be kept for domestic use.
Pipeline Operator TC Energy Plans to Complete Coastal GasLink Pipeline This Year
TC Energy's surprise plan to split the company last week accelerated a stock selloff. Still, shareholders bet the North American pipeline operator will finish the year on a higher note by completing the 670-km (416-mile) Coastal GasLink pipeline.
Criteria to Consider in Selecting Water Transfer Flow Meters
(P&GJ) — The oil and gas industry contains a complex number of flow applications, featuring a myriad of fluids and gases that challenge even the toughest of flow instrumentation. So, choosing the right flow meter for a water transfer application should be straightforward in comparison … right?
Government of Alberta Commits $50 Million to Advance Hydrogen Innovation Projects
(P&GJ) — The Government of Alberta has announced $50 million in funding to support researchers, innovations, companies and the industry to develop technologies that are critical to advancing Alberta’s hydrogen roadmap and natural gas strategy.
BP to Defend Its Rights to the Fullest in Venture Global LNG Arbitration Case, CEO Says
BP will defend its rights "to the absolute fullest" in an arbitration case against U.S. exporter Venture Global LNG for failing to supply contracted cargoes, CEO Bernard Looney said on Tuesday.
Restart Delayed at Texas Coal Unit Linked to Petra Nova CCS Project
The coal unit had hosted the $1 billion Petra Nova carbon capture and sequestration (CCS) plant, which sent the carbon dioxide gas about 80 miles (130 km) by pipeline, where it was pumped into an aging oilfield to boost output, a technique known as enhanced oil recovery.
Equitrans to Begin Construction on Ohio Valley Connector Expansion Project
(P&GJ) — On Monday, FERC issued the Notice to Proceed, signaling Equitrans' imminent commencement of construction. The expansion project is designed to enhance deliverability on its Ohio Valley Connector pipeline, bolstering its capacity by approximately 350 MMcf/d.
Equitrans' 303-Mile Mountain Valley Pipeline on Track to Be Completed by Year-End 2023
U.S. energy company Equitrans Midstream on Tuesday said it still expects to complete the Mountain Valley natural gas pipeline by the end of the year despite being tangled in numerous court fights since construction began in 2018.
United Energy, Bridge Energy Partner to Expand LNG Processing Capabilities
(P&GJ) — The strategic partnership aims to leverage the expertise and resources of both companies to expand UNRG’s processing capabilities of LNG and unlock its immense potential as a clean and versatile energy source.
SwRI Tapping into Geothermal Energy Possibilities in Texas
(P&GJ) — Electric power generates the second-largest share of greenhouse gas emissions and includes emissions from electricity production used by end use sectors, such as industry. Nearly 80% of electricity in the U.S. comes from burning fossil fuels, mostly coal and natural gas.
Pipeline Companies to Pay $12.5 Million in Penalties After Spills in Montana, North Dakota
Belle Fourche Pipeline Company and Bridger Pipeline LLC that own and operate a network of crude oil pipelines in Montana, North Dakota and Wyoming have together agreed to pay a $12.5 million civil penalty relating to oil spills.
Tecnicas Reunidas, Ansaldo Energia to Develop RWE Hydrogen Plant in Germany
A consortium comprising Spain's Tecnicas Reunidas and Italy's Ansaldo Energia is set to develop a hydrogen-ready combined cycle power plant in Germany for utility RWE, the Spanish engineering firm said on Monday.
ROSEN Conducts Research on Hydrogen Embrittlement
(P&GJ) — The ROSEN Group, together with National Gas (formerly National Grid Gas Transmission), has started researching ways to mitigate the potential for embrittlement of pipeline steel in hydrogen service.
Enbridge Fixing Minnesota Aquifer Breach Related to Oil Pipeline Construction
Enbridge Inc. on Friday said it was working to fix an aquifer breach in rural Minnesota related to the construction of its Line 3 oil pipeline replacement project, which was completed in 2021 and carries Canadian crude to U.S. refineries.
Venture Global LNG's Calcasieu Pass 2 Project Gets Final U.S. Environmental Nod
Venture Global LNG's proposed Calcasieu Pass 2 project in Louisiana has received FERC's environmental approval, clearing the way for a final vote by the commission on expanding the company's natural gas liquefaction facility.
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.
- 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
