PipeChina to Buy $56B Worth of Pipelines
China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion).Under the deal, PipeChina, known formally as China Oil and Gas Pipeline Network, will take over oil and gas pipelines and storage facilities from state-owned energy giants PetroChina and Sinopec, in return for cash…
China to Launch State Pipeline Group
China plans to launch its long-awaited national oil and gas pipeline company on Monday, part of a sector-wide reform aimed at providing fair market access to infrastructure and boost investment in oil and gas production.Most of the country's pipeline infrastructure is controlled by energy giant PetroChina, CNPC's listed arm, and small, non state-owned oil and gas producers and distributors often don't have access to the pipelines at competitive rates, analysts have said.This also hinders companies from investing in oil
Rebooting What’s Possible in India’s Gas Market
‘To lose patience is to lose the battle’ -Mahatma GandhiIndia is something of a conundrum for global LNG players. I recently returned from a week in Delhi, just as the capital was making headlines for one of the worst episodes of air pollution, while the country’s energy mix remains dominated by cheap domestic coal. At the same time, gas price sensitivity continues to stymie investment and contracting negotiations. Progress…
Bahrain's First LNG Terminal Ready for Business
Bahrain expected to start LNG imports early this year; FSU on 20-year time charter to Bahrain LNG arrives in the GulfBahrain's first liquefied natural gas (LNG) floating unit arrived in the Gulf this week as the country gets ready for its maiden imports of the super-chilled fuel this year, data from Refinitiv Eikon showed.Bahrain Spirit, a floating storage unit (FSU) with a capacity of about 173,000 cubic meters, is currently anchored in Fujairah after docking in the United Arab Emirates region on Jan.
Petrobras Earnings Miss Forecasts
Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped.Petrobras made a net profit of 6.644 billion reais ($1.78 billion), well above the 266 million reais it posted a year earlier, but shy of a $1.98 billion average Refinitiv IBES estimate.Analysts were particularly concerned by a 50 percent cut in free cash flow to 8.115 billion reais from the prior quarter…
Petrobras, Engie Extend Period to Negotiate Contract of Pipeline Network
Brazilian state-controlled oil company Petroleo Brasileiro SA has extended the deadline for discussion with France's Engie SA about the sale contract for a major pipeline network, two sources with knowledge of the matter said.Engie had the highest bid among three consortia interested in acquiring Transportadora Associada de Gás SA, known as TAG. The French company and Petrobras, as the Brazilian company is known, were supposed to wrap up talks over the sale contract by Thursday…
Brazil's Patria Investimentos Targets Natural Gas, Renewables
Brazilian investment firm Pátria Investimentos Ltda is targeting infrastructure investments in natural gas and renewable energy, partner Otávio Castello Branco told journalists on Wednesday. A fund managed by the investment firm was awarded in March via an auction the right to operate several highways in São Paulo, Brazil's richest state. In April, Pátria also won rights to build and operate power transmission lines. Patria, which has a partnership with U.S.
US LNG Exports to Increase: EIA
U.S. Energy Information Administration (EIA)'s latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The U.S. has been a net exporter for three of the past four months and is expected to continue to export more natural gas than it imports for the rest of 2017 and throughout 2018. The nation’ status as a net exporter is expected to continue past 2018 because of growing U.S.
Australia in Talks With Gas Majors to Avert Local Shortage
Australian PM in crisis talks with gas majors; Australia faces gas shortage despite exports soaring. Australia's top gas producers, led by ExxonMobil Corp and Royal Dutch Shell, agreed to boost supply to the country's domestic market to help avert an energy shortage following crisis talks with Prime Minister Malcolm Turnbull. Australia is on track to become the world's largest exporter of liquified natural gas (LNG),…
Court: $1.8B Gas Transport Tariff Row
A Norwegian court will hear an appeal next week by four firms seeking to overturn a ruling that upheld a government decision to cut offshore gas transportation tariffs. The firms - owned by Allianz, UBS, the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board - said the slashed tariffs would cost them 15 billion crowns ($1.8 billion) in lost earning by 2028. Solveig Gas, Njord Gas Infrastructure…
Petrobras, Total ink Strategic Alliance Deal
Petrobras signed a Master Agreement with French outfit Total today related to the strategic collaboration set forth in the memorandum of understanding signed on October 24 by our CEO Pedro Parente and Total CEO Patrick Pouyanné. Under the new agreement, Petrobras will substantially increase the level of technological cooperation in the fields of geosciences, subsea systems, and in joint studies in areas of mutual interest…
Gasum now Biggest Biogas Producer in Nordic countries
Gasum has purchased 100% of the shares of the Swedish biogas producer Swedish Biogas International. The transaction makes Gasum the biggest producer of biogas in the Nordic countries. In the transaction concluded today, five biogas plants located in Jordberga, Katrineholm, Lidköping and Örebro as well as a majority shareholding in a production plant located in Västerås, Sweden, are transferred to Gasum’s ownership. Swedish Biogas International also has a 50% shareholding in Vadsbo Biogas.
Bear Paw to Construct Point Tupper Pipeline
Bear Paw Pipeline Corporation Inc. (Bear Paw), an indirect wholly-owned subsidiary of Liquefied Natural Gas Limited (LNGL), has received Nova Scotia Utility and Review Board approval to construct a 62.5 km natural gas pipeline from Goldboro to the proposed Bear Head LNG liquefied natural gas (LNG) export facility in Point Tupper, Richmond County, Nova Scotia. “Bear Paw’s pipeline is integral to the development of Bear Head LNG,” said Greg Vesey, Managing Director and CEO of LNGL and President of Bear Paw.
First Shipload of LNG Arrives at Skangas Terminal Finland
Sunday July 10th 2016 the first shipload of liquefied natural gas (LNG) arrived at the Gasum’s subsidiary Skangas LNG terminal in Pori. To be completed in August, the facility is the first LNG import terminal in Finland. LNG was brought with the time chartered Skangas Coral Energy carrier from the North West Europe. The Skangas LNG terminal is undergoing commissioning, and commercial deliveries to customers will begin in September.
LNGL Registers Bear Paw Assessment
Bear Paw Pipeline Corporation Inc. (Bear Paw), an indirect wholly owned subsidiary of Liquefied Natural Gas Limited (LNGL), has today registered its Environmental Assessment (EA) with Nova Scotia Environment. Bear Paw is proposing to construct and operate a 62.5 km natural gas pipeline from Goldboro to the proposed Bear Head LNG liquefied natural gas (LNG) export facility in Point Tupper, Richmond County, Nova Scotia.
Norway wins $1.8 bln Pipeline Row
Gassled partners have six weeks to decide on appeal. An Oslo court ruled on Friday in favour of Norway in a lawsuit involving a group of international investors who argued that Norway's decision to cut natural gas pipeline tariffs would cost them 15 billion crowns ($1.8 billion) in lost earnings by 2028. Challenging Norway's reputation as a predictable place to do business, four firms owned by funds including Allianz…
Gazprom Delays Link to Turkish Gas Line
Gazprom has told pipeline makers to suspend deliveries of pipes for expanding Russia's network to be connected to the proposed Turkish Stream project, an industry source said on Monday. The delay is another snag in Moscow's plans to build a gas pipeline via the Black Sea to Turkey, and on to south Europe in order to bypass Ukraine. "We've got a note (from Gazprom) to suspend deliveries," the source in the pipeline making industry told Reuters.
Siemens to Open Plant to Turn Electricity from Wind into Hydrogen
Siemens will on Thursday start an energy project to convert wind power into hydrogen for re-use as a general fuel or in natural gas pipelines. Siemens' electrolysis plant in Mainz is based on Proton Exchange Membrane (PEM) technology, which allows the capture and storage of electricity into hydrogen. It said the plant can process up to 6 megawatts of electricity, making it the biggest PEM installation of its kind worldwide and able to supply 2,000 fuel cell cars.
Global Investors Move Against Norway on Gasline
A group of international investors is suing Norway in an attempt to overturn its decision to cut gas pipeline tariffs, arguing the fee reduction will cost them 15 billion crowns ($1.9 billion) in lost earnings through 2028. Challenging Norway's reputation as a predictable place to do business, investors including Allianz, UBS, the Abu Dhabi Investment Authority and the Canada Pension Plan Investment Board, argue that Norway illegally cut fees on the 8,000-km (5,000-mile) Gassled natural gas pipeline network.
Oil and Gas Pipeline Company Caliber Seeks Sale
Caliber Midstream Partners LP, the owner of an oil and gas pipeline network in North Dakota, is exploring a sale that it hopes could value it at as much as $1 billion, including debt, according to people familiar with the process. Caliber's owners, private equity firm First Reserve Corp and oil and gas exploration and production company Triangle Petroleum Corporation, have interviewed investment banks in recent weeks about hiring a financial advisor to help run an auction for the company, the people said.
