North America
U.S. Oil M&A Jumps as Private Equity Unloads Shale Assets
U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals.
Canada Releases Framework to Phase Out Inefficient Fossil Fuel Subsidies
Climate policy analysts said the framework was an important step forward but fell short in continuing to allow government support for oil and gas projects that plan to reduce emissions through technologies such as carbon capture and storage (CCS).
US to Spend $700 Million for Oil and Gas Sector to Cut Methane Emissions
The U.S. government will provide up to $700 million in funding to monitor and reduce methane emissions from the oil and gas sector, setting aside half of the amount for grants to states, two agencies said on Monday.
TC Energy Sells 40% Stake in Columbia Gas Transmission Pipelines to GIP for $4 Billion
Canada's TC Energy has agreed to divest a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines, which span more than 15,000 miles and deliver a substantial portion of daily U.S. natural gas demand, for $3.95 billion to Global Infrastructure Partners (GIP).
Natural Gas Pipeline at Risk as Wildfire Sweeps Through Washington County
The Newell Road Wildfire has already destroyed several structures in the area and is threatening homes, farms, crops and livestock, solar and wind farms and a natural gas pipeline, county emergency officials said.
Natural Gas Connection Failure Investigated in Fatal Pennsylvania Factory Explosion
(P&GJ) — Federal safety inspectors confirmed Tuesday that natural gas seeped through a faulty connection at a Pennsylvania chocolate factory where a strong explosion destroyed one building, severely damaged another, and killed seven people
Cheniere Energy's Sabine Pass LNG Plant Returns to Normal
Cheniere Energy Inc.'s Sabine Pass LNG export facility returned to normal processing levels on Thursday following an outage at one of its units on Tuesday, Reuters reported.
Senate Backs Amendment Banning US Strategic Oil Reserve Sales to China
The U.S. Senate overwhelmingly passed an amendment to an annual defense bill on Thursday that would ban exports to China of oil from the Strategic Petroleum Reserve.
US Looks to Mexico for In-Demand Sour Crude Barrels
The United States is on track in July to take in higher imports of crude oil from Mexico for a second month, as global demand for sour crudes ramps up following production cuts from OPEC+ that have cut off a pivotal source.
Cheniere Energy Plans to Build New Gas Pipeline to Feed LNG Expansion in Louisiana
Cheniere Energy Inc., the largest U.S. LNG exporter, says it may build a new pipeline to link its Louisiana expansion project to other pipelines in major shale-gas producing regions as it seeks to diversify its risk.
Alaska LNG Project Clears Challenge, Advances 800-Mile Pipeline
The Biden administration backed the MVP for the second time, Mexico Pacific planned a $14 billion natural gas pipeline and liquefaction plant, and an Alaska LNG project advanced after a lawsuit from environmentalists was rejected, Comet Ridge and Jemena entered an agreement to develop a gas pipeline, while Caliche launched an open season for an expansion project.
Global News July 2023
Latest industry developments from around the world!
Halliburton, Baker Hughes Highlight LNG Market Resilience Amid North America Shale Weakness
Halliburton shares were down in early trading as markets worried about its exposure to North America markets. However, shares of Baker Hughes — a major equipment supplier to LNG developers — were up, thanks to its exposure to LNG markets.
EverWind to Invest $1 Billion in Hydrogen, Ammonia Production to Power Nova Scotia Project
EverWind Fuels said on Monday it would invest $1 billion in renewable energy generation to power its green hydrogen and ammonia production project in Nova Scotia.
LNG Canada Project Nears Completion as Fluor Wraps Up Module Fabrication
(P&GJ) — With the arrival of the last module by ship from its fabrication yard in Zhuhai, China, Fluor Corp. announced that it has completed the module fabrication program on the LNG Canada project in Kitimat, British Columbia, Canada. The project will have an initial capacity to produce 14 million tons of LNG per year.
Global Construction Update: LNG Markets, Resurgent China Kindle Pipeline Projects
(PGJ) — Global midstream markets continue to face near-term headwinds and economic uncertainties, but Europe’s rapid transition from Russian energy and projected higher demand in Asia continue to drive midstream expansion in those regions and others that supply them.
Editor’s Notebook: Alaska’s Long Road Back
(P&GJ) — With the Biden administration’s recent approval of exports from a proposed LNG project and the rejection of a lawsuit challenging construction of related infrastructure, prospects may again be looking up again for the Final Frontier.
World’s Top LNG Players Push for More, But Greener, Gas Investments
Current investments in gas infrastructure are falling short of what is needed, officials at an industry conference in Japan said on Wednesday, citing the role they say the fuel has to play in both global energy security and the transition to net zero.
Enterprise Products Begins Service at New Midland Basin Gas Processing Plant
(P&GJ) — The new plant, the company’s sixth in the Midland Basin, has a nameplate capacity of 300 million cubic feet per day and can extract more than 40,000 barrels of natural gas liquids per day.
US Looks to Buy Another 6 Million Barrels for Emergency Oil Stockpile This Year
The U.S. Department of Energy on Friday said it was looking to purchase another 6 million barrels of crude oil for the Strategic Petroleum Reserve as it continues to refill the stockpile following last year's record drawdown.
Wood Mackenzie: North American RNG Market Could Reach 4 Bcf/d by 2050
(P&GJ) — The North American renewable natural gas (RNG) market is poised for significant expansion, potentially growing tenfold to reach 4 Bcf/d by 2050, driven by new government incentives for the transportation sector, according to a new report from Wood Mackenzie.
Iraq-Iran Gas-for-Oil Barter Would Likely Violate US Sanctions
A barter of Iranian natural gas for Iraqi oil as described by the Iraqi prime minister this week would likely violate U.S. sanctions on Tehran unless the U.S. issued a waiver permitting it, three former U.S. officials said on Thursday.
Mountain Valley Asks US Supreme Court to Vacate Stays Halting Pipeline
Mountain Valley Pipeline LLC asked the U.S. Supreme Court in a filing on Friday to vacate stays imposed by a federal court halting construction of a portion of its West Virginia-to-Virginia natural gas pipeline.
Brent Oil Hovers Above $81 After Supply Disruptions
Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.
Exxon Expands Carbon Pipeline Network with $4.9 Billion Denbury Deal
Exxon Mobil Corp. on Thursday agreed to buy Denbury Inc. for $4.9 billion, acquiring a company with a substantial carbon dioxide (CO2) sequestration operation that could accelerate its nascent energy transition business.
Energy Transfer Signs Deals for Louisiana Lake Charles Export Plant
The agreements come even though the U.S. Department of Energy has so far refused to extend Lake Charles' authorization to sell LNG to non-Free Trade Agreement (FTA) countries beyond December 2025.
TC Energy Urges Canada to Speed Permits for Energy Transition Projects
TC Energy has more than 20,000 kilometers (14,300 miles) of pipeline in western Canada that could be repurposed to carry carbon dioxide for sequestration underground or transport low-emissions hydrogen, CEO Francois Poirier said.
NextDecade Makes Final Investment Decision on Rio Grande LNG Phase 1
Liquefied natural gas (LNG) firm NextDecade said on Wednesday it has made a positive final investment decision (FID) to construct the first three liquefaction trains (Phase 1) at its Rio Grande LNG export facility.
Kinder Morgan Expanding Eagle Ford Pipeline Systems, Supplying 2 Bcf/d of Gas to Gulf Coast Markets
(P&GJ) — Pipeline operator Kinder Morgan and Howard Energy Partners have announced plans to expand their respective Eagle Ford natural gas transportation systems, which is expected to add up to 2 Bcf/d of natural gas to U.S. Gulf Coast markets.
EIA: Appalachian Natural Gas Output Stagnated in 2022 on Pennsylvania Declines
Natural gas production in the Appalachian Basin, which accounts for a majority of U.S. output, was nearly flat last year as drilling efficiency at Pennsylvania's wells dropped for the first time since 2013, the U.S. Energy Information Administration (EIA) said on Wednesday.
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Mexico Seizes Air Liquide's Hydrogen Plant at Pemex Refinery
- Kinder Morgan Declares Force Majeure on West Texas Gas Pipeline After Fire
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
- Pipeline Hydro Test Pressure Determination
- Venezuela Proposes Alternative Payment Plan as Weak Bids Surface in Citgo Auction
- Baker Hughes Wins Contract for Huge Aramco Gas Expansion Project
- Japan Looks at Developing Domestic Pipelines Sector
- Enbridge Picks Contractors for Great Lakes Tunnel Project, Securing Line 5 Pipeline Route
