Saibu Gas, Novatek JV to Market LNG
Japanese natural gas distribution company Saibu Gas and Russian LNG project operator Novatek revealed plans to form a joint venture.Novatek announced that it has signed the Heads of Agreement (HoA) with Saibu Gas in the presence of the Minister of Economic Development of the Russian Federation Maxim Oreshkin.According to the Agreement…
Petrobras Nears Terms Over TAG Pipeline Sale
Brazil’s state-controlled oil company Petróleo Brasileiro could present a new sale and purchase agreement (SPA) before the end of December for the sale of the Transportadora Associada de Gás (TAG) pipeline, after a Brazilian Supreme Court injunction in July stalled the sale.The sale of TAG, which operates natural gas pipelines in Brazil’s north and northeast…
STAR Oil Refinery to Reduce Turkey Dependence on Imports, says Erdogan
A new $6.3 billion refinery set up by the Azeri state oil company in Turkey will reduce Ankara's dependence on imports for processed oil products, President Tayyip Erdogan said on Friday.The new plant could also help to ease some of the pain from Turkey's currency crisis, given that the lira's 35 percent slump this year has driven up costs…
Petrobras to Shed Paraguay Assets
Brazilian state-controlled oil company Petróleo Brasileiro SA disclosed on Friday the initial terms for a plan to sell the entirety of its operations in Paraguay, according to a securities filing. Petrobras, as the firm is known, is planning to exit the natural gas distribution sector in Paraguay and sell hundreds of gasoline stations and convenience stores, the statement said.
Duke Energy's Q1 Results Beat Street
Duke Energy Corp, the biggest U.S. power company by generation capacity, reported a quarterly profit that edged past estimates, partly helped by its acquisition of Piedmont Natural Gas. Duke Energy announced its $4.9 billion purchase of Piedmont Natural Gas in 2015. The acquisition has helped the company expand its natural gas distribution business.
Colonial Pipeline CEO Tim Felt to Retire
Colonial Pipeline, the largest refined products pipeline system in the U.S., said on Thursday its chief executive Tim Felt would retire at the end of the month. John Somerhalder will replace Felt as interim CEO effective February 1, the company said. Somerhalder was most recently chairman and CEO of AGL Resources, an Atlanta-based energy services holding company with operations in natural gas distribution…
ENGIE, Wärtsilä to Develop Small Scale LNG Markets
ENGIE has signed a Memorandum of Understanding (MoU) with Wärtsilä, a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets to develop solutions and services in the small scale LNG business. The cooperation covers four work streams: LNG for ships, LNG distribution in islands and remote areas, LNG to Power solutions and small scale LNG and bio liquefaction.
Brazil Court Upholds Petrobras Sale of Gaspetro Stake to Mitsui
A Brazilian court struck down an injunction suspending the sale by state-led oil company Petrobras of a 49 percent stake in its Gaspetro natural-gas distribution unit to Japan's Mitsui & Co., Petrobras said in a statement obtained on Wednesday. Appeals judge Kassio Marques of the Federal Regional Court of the First Region ruled Tuesday…
Brazil Antitrust Regulator Recommends Penalizing Petrobras
The superintendent's office of Brazil's antitrust regulator Cade recommended penalizing state-run oil company Petroleo Brasileiro SA for anti-competitive behavior in the natural gas distribution market, according to a statement from Cade on Monday. The case will now be tried before Cade's tribunal at a date yet to be determined. The complaint was made at Cade by rival natural gas distributor Comgas.
Petrobras Will Defend Gaspetro Sale to Mitsui
Petróleo Brasileiro SA is unaware of a Brazilian court ruling suspending the sale of a 49 percent stake in a natural gas distribution unit, and vowed to defend the sale through any legal means possible. In a securities filing on Thursday, Petrobras, as Brazil's state-controlled oil producer is known, said the transaction was legal and had obtained all regulatory permits.
Chevron and ENN Sign Gorgon LNG Agreement
Chevron Corporation announced that its Australian subsidiaries have signed a non-binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, ENN is expected to receive up to 0.5 million metric tons per annum (MTPA) of LNG over 10 years…
Brazil Court Blocks Petrobras Gaspetro Stake Sale to Mitsui
A Brazilian court blocked the planned 1.9 billion real ($509 million) sale of 49 percent of Gaspetro, the gas pipeline unit of Petrobras, to Japan's Mitsui Co, a move that could frustrate the state-run oil company's efforts to sell assets to cut debt. Judge Manoel Ricardo Calheiros D'avila of the Justice Tribunal of Bahia issued the injunction…
Duke Energy to Buy Piedmont
Duke to pay $4.9 bln, assume $1.8 bln debt; offer worth $60/Piedmont share, a 42 pct premium. Duke Energy Corp, the largest U.S. power company by generation capacity, said on Monday it would buy Piedmont Natural Gas Co for $4.9 billion in cash, helping expand its natural gas distribution business. Duke offered $60 in cash for each Piedmont share…
Excision of Gaspetro
Petrobras announces that its Board of Directors at a meeting held today, aprobola split of Petrobras Gás SA (Gaspetro). This split aims to segregate the assets and liabilities related to the business of distribution of natural gas from the other assets and liabilities of the company, Gaspetro transforming into a holding company that will consolidate the shares of Petrobras in the distribution of natural gas.
Petrobras Fetches $490 mln with Gas Unit Stake to Mitsui
State-controlled Petróleo Brasileiro SA's board approved selling a minority stake in a natural gas distribution unit to Japan's Mitsui & Co Ltd for 1.9 billion reais ($490 million) in a key step toward disposing of non-essential assets to repay debt. Petrobras, as the oil producer is commonly known, had been engaged in negotiations with…
Petrobras Approves Unit Stake Sale to Mitsui
The board of Brazil's state-controlled Petróleo Brasileiro SA, also known as Petrobras, approved on Friday the sale of a minority stake in a natural gas distribution holding company to Mitsui & Co Ltd , although the conclusion of the deal hinges on certain aspects yet to be negotiated, a source with direct knowledge of the matter said.
Ultrapar Covets Petrobras Gas Assets
Ultrapar Participações SA, which owns Brazil's largest natural gas distribution company, is interested in acquiring some assets from state-controlled Petróleo Brasileiro SA that could be listed as early as this year, O Estado de S. Paulo newspaper reported on Monday. Ultrapar would be willing to acquire Liquigás, a rival controlled by the state firm commonly known as Petrobras…
Black Hills to Acquire SourceGas
Energy company Black Hills Corp said on Sunday it signed a deal to buy natural gas utility company SourceGas Holdings LLC for about $1.9 billion. The acquisition of Golden, Colorado-based SourceGas will increase Black Hill's customer base by 55 percent to more than 1.2 million customers, the company said. The owners of SourceGas, Alinda Capital Partners and GE Energy Financial Services…
EDP Sells Some Spanish Gas Assets for 236m Euros
EDP-Energias de Portugal Spanish unit Naturgas agreed to sell natural gas distribution assets in three Spanish regions to Redexis, a holding company of Goldman Sachs Infrastructure Partners, for 236 million euros ($295 million), EDP said on Tuesday. The deal involves approximately 117,000 gas connection points in Murcia as well as Extremadura and Gerona regions.
Three Bidders All Eye Istanbul Gas Grid
Turkey will start the sale of Istanbul's IGDAS gas grid this month, with Russia's Gazprom , Japan's Marubeni Corp and Turkey's Enerya and Aygaz among the interested bidders, sources close to the process said. The IGDAS network serves more than 5 million customers in Turkey's largest city and sold 5 billion cubic metres of gas last year…
