Natural Gas

Sources: Four Suitors Offer More Than $648 Million for Edison’s Gas Storage Assets

Edison's gas storage assets have attracted offers from four Italian and international suitors, setting the stage for a transaction that could be worth more than 600 million euros ($648 million), two sources familiar with the matter said.

DT Midstream Reaches Early Mechanical Completion of LEAP Phase 2 Expansion

(P&GJ) — DT Midstream Inc. has reached early mechanical completion of its Phase 2 LEAP Gathering Lateral Pipeline expansion. The 400 MMcf/d expansion is now expected to be available for firm service on January 1, 2024.

EIA: Continental U.S. Kicks Off Winter with Most Natural Gas in Storage Since 2020

The continental United States entered the winter heating season with the most natural gas in storage since 2020, the U.S. Energy Information Administration (EIA) said on Thursday.

Woodside in Talks with Santos to Form $52 Billion Australian Gas Giant

Australia's Woodside Energy and Santos said they were in preliminary talks on Thursday to create a $52 billion global oil and gas giant as consolidation among international energy firms intensifies.

FTC Issues Second Information Request on Exxon's $60 Billion Takeover of Pioneer

The U.S. Federal Trade Commission has sent shale oil producer Pioneer Natural Resources and Exxon Mobil a second request for more information on their $60 billion takeover deal, Pioneer said on Tuesday.

Republican States Challenge EPA's Pipeline Veto Power Expansion in Federal Lawsuit

A group of 11 Republican-led states and energy industry groups have challenged a U.S. Environmental Protection Agency rule that bolsters state and tribal veto power over pipelines and other major infrastructure projects that might pollute rivers and streams.

Trans Mountain Pipeline Expansion Faces Further Delays, Posing Financial Challenges for Canadian Oil Producers

Canadian oil producers are bracing for further potential delays to the Trans Mountain pipeline expansion (TMX) that could cost them millions of dollars in lost revenues in coming months after they ramped up production ready to fill the expanded line, meant to unlock access to Asia.

China Introduces Simplified Regional Pricing System for Natural Gas Transportation

China will simplify freight rates on its natural gas pipeline network by introducing a "one area, one price" system across four broad areas of the country, according to a document released by the state planner on Tuesday.

Kinder Morgan Forecasts 11% Profit Increase for 2024 on Growing Demand

Kinder Morgan on Monday forecast higher 2024 earnings as the U.S. pipeline operator bets on increased demand for transporting crude oil and gas liquids.

LaPorte, Texas, Issues Shelter in Place After Altivia Plant Leaks Toxic Gas

Altivia Chemical was working to contain a toxic gas leak from its LaPorte, Texas, plant on Monday, as the city's emergency management agency ordered some nearby residents and five neighboring facilities to shelter in place out of caution.

Guyana Moving Toward New Offshore Gas Pipeline in Liza Offshore Fields

(P&GJ) — With the Gas To Energy project, the government of Guyana will — for the first time — produce energy using the associated natural gas produced in the Liza offshore fields of the Stabroek Block.

Revenues of Russia's Top Oil and Gas Producers Fall 41% in First 9 Months of 2023

The revenues of Russia's largest oil and natural gas producers dropped by 41% in the first nine months of the year, the central bank said in its financial stability review, as export volumes and prices declined.

Investors Flock to U.S. Natural Gas ETF Despite Price Slump

Investors have been piling into an exchange-traded fund (ETF) designed to track U.S. natural gas prices, in spite of the commodity's dismal performance in 2023.

Mountain Valley Pipeline Owner Equitrans Considering Asset Sale

While there is no certainty that the company would decide to proceed with the sale, it would likely attract interest if it were to launch a sale process in early 2024, coinciding with the expected completion of the Mountain Valley pipeline.

U.S. Refiner Phillips 66 Retains Big-Name Advisers for Elliott Duel

U.S. oil refiner Phillips 66 has retained two top financial and legal advisers for its duel with activist investor Elliott Investment Management, according to a person familiar with the matter.

Williams Becomes Third Largest DJ Basin Gatherer with Cureton Front Range, RMM Acquisitions

(PGJ) — Williams secures the third-largest DJ Basin gathering position by acquiring Cureton Front Range LLC, including gas gathering pipelines and two processing plants, and 100% ownership in Rocky Mountain Midstream Holdings LLC.

Global News December 2023

Latest industry developments from around the world!

Drones Used to Improve Safety of Pipelines

(P&GJ) — There’s no way around it — infrastructure inspection is as risky and dangerous as it is vital. For the past few years, companies have begun experimenting with unmanned aerial systems (known as UAS, or drones) to help improve worker safety, among other benefits.

APGA Continues Focus on Advocacy of Natural Gas

(P&GJ) – Formed in 1961, the American Public Gas Association (APGA) has played an instrumental role in the operations of more than 700 member companies in 36 states ever since, by representing its members before Congress and other federal agencies through careful assembling of regulatory and legislative positions.

Green Hydrogen Projects by Spain's Enagas Poised to Receive EU Funding

Two renewable hydrogen projects partially managed by Spain's gas grid operator Enagas have been included in the European Commission's list of Projects of Common Interest (PCI), the company said on Tuesday, meaning they could benefit from accelerated permitting procedures and subsidies.

Elliott Takes $1 Billion Stake in U.S. Pipeline Operator Phillips 66, Urges Board Revamp

Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its board to boost lagging performance.

Occidental in Talks to Buy Permian Producer CrownRock

Occidental Petroleum is one of the finalists in the auction for CrownRock, an energy producer in the west Texas area of the Permian basin, with a bid of more than $10 billion. ConocoPhillips, Diamondback Energy, Devon Energy, Marathon Oil and Continental Resources were also studying potential bids.

Kyiv Proposes Reversing Trans-Balkan Gas Pipeline Flows Through Ukraine

Ukraine's state gas transit operator on Wednesday proposed reversing gas flows through the Trans-Balkan pipeline, which would allow gas to be pumped from the Balkans to Central and Eastern European countries through Ukraine.

Centrica Pumps Gas from Rough Storage into U.K. Grid as Demand Rises

British Gas owner Centrica has released stored gas from its largest storage facility into the national grid for the first time this winter, it said on Tuesday, seeking to manage rising heating demand and contain prices.

Riposte Capital Pushes for Board Overhaul at Energy Producer SilverBow

One of SilverBow Resources Inc.'s largest investors is pushing the U.S. oil and gas producer to revamp its board to address governance concerns and boost its lagging performance, according to a letter reviewed by Reuters on Thursday.

Cambodia Scraps Coal Power Project to Build Gas-Fired Plant, Import LNG

Cambodia has abandoned plans to build a $1.5 billion 700 megawatt (MW) coal-fired power project in a protected reserve along the southwestern coast and will build an 800 MW natural-gas fired plant instead, its energy minister told Reuters.

Cambodia Ditches Coal Project in Favor of LNG-Fueled Power Plant

As part of the project, Cambodia is exploring construction of a liquefied natural gas (LNG) terminal to import the super-chilled fuel and re-gasify it for use in the power plant, Energy Minister Keo Rottanak told Reuters.

ABB, Luna Innovations Collaborate on World’s Largest Fiber Optic-Based Gas Pipeline Monitoring System

Luna Innovations and automation contractor ABB collaborated with the system operator to provide leak detection, pipeline security and facility security across the 1,811 km route in a project spanning six years.

Canadian Pipeline Operator Enbridge Bets on Higher 2024 Demand With Increased Earnings Forecast

The upbeat forecast from Enbridge, which operates the Mainline oil pipeline system that ships the bulk of Canada's crude exports to the U.S., follows peer TC Energy estimating higher adjusted core earnings for 2024 on Tuesday.

Ukraine Suggests Reversing Trans-Balkan Gas Pipeline Flows to Meet Demand

Ukraine's state gas transit operator on Wednesday proposed reversing gas flows through the Trans-Balkan pipeline, which would allow gas to be pumped from the Balkans to Central and Eastern European countries through Ukraine.