Archive for 'Industry news'

Enbridge completes sale of US midstream businesses

In May, the company announced a definitive agreement was in place to sell Midcoast Operating and its subsidiaries to AL Midcoast Holdings, an affiliate of ArcLight Capital Partners, for a cash purchase price of CA$1.4 billion (US$1.08 billion).

“We are pleased to have moved quickly to execute and close these transactions at strong valuations,” said Enbridge President and CEO Al Monaco.

Midcoast Operating conducts natural gas and natural gas liquids (NGL) gathering, processing, transportation and marketing businesses, serving established basins in Texas, ...

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Kinder Morgan will sell the Trans Mountain Pipeline Project for c$4.5 billion to the Government of Canada

Kinder Morgan announced that its board of directors has agreed to the purchase of the Trans Mountain Pipeline system and the expansion project (TMEP) by the Government of Canada for C$4.5 billion, and has agreed to work with the Government of Canada to seek a third party buyer for the Trans Mountain Pipeline system and TMEP through July 22, 2018.

As part of the agreement, the Government has agreed to fund the resumption of TMEP planning and construction work by guaranteeing ...

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France to allow private investors to buy into GRTgaz gas grid

France will allow gas utility Engie to sell part of the main French gas grid, GRTgaz, to private investors, according to a planned parliamentary bill, as the government eyes a series of possible privatizations to boost the economy.

The gas grid, which manages most French gas pipelines and storage sites, is currently 75% owned by Engie, with the remaining 25% owned by state investor Caisse des Depots and insurer CNP.

The new law will allow the state-controlled investors to jointly hold only ...

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Gazprom says sanctions won’t stop Nord Stream 2 pipeline project

The $11 billion Nord Stream 2 project to add a second Russian trans-Baltic gas export pipeline will be implemented regardless of how new U.S. sanctions are interpreted, an official at Gazprom told a conference call.

Gazprom

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Energy Transfer Partners Sells $1.5 Billion Stake in Rover Pipeline Project to Blackstone

Two subsidiaries of Energy Transfer Partners, Energy Transfer Interstate Holdings, LLC and ET Rover Pipeline LLC, announced July 31 that they would be selling a 49.9% interest in HoldCo, which owns a 65% interest in the Rover Pipeline

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Construction of the Northern Gas Pipeline begins in Australia

Construction officially begins today on the 622-kilometre-long Northern Gas Pipeline to run from Tennant Creek to Mt Isa, with more than 90 people attending a sod-turning ceremony at the Phillip Creek compressor station.

The $800 million pipeline will connect the Northern Territory to the national gas grid, and has been touted as a possible solution to the supposed east coast gas shortage.

Michael Pintabona, spokesman for the company behind the project, Asian conglomerate Jemena, said the pipeline was being built to transport ...

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Sunoco Logistics and Energy Transfer complete merger

Sunoco Logistics Partners LP and Energy Transfer Partners LP have completed the merger of an indirect subsidiary of Sunoco Logistics with and into Energy Transfer. Energy Transfer will become a wholly owned subsidiary of Sunoco Logistics.

At the effective time of the merger, each Energy Transfer common unit converted into the right to receive 1.5 Sunoco Logistics common units. Based on the Energy Transfer units outstanding, Sunoco Logistics issued approximately 845

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Partial sale of Dakota Access Pipeline completed after construction resumes

Dallas-based Energy Transfer Partners completed a $2 billion sale of stakes in the controversial Dakota Access Pipeline, which restarted construction this week after receiving regulatory approval from the U.S. Army Corps of Engineers. Energy Transfer sold a 36.8 stake in the roughly $4 billion pipeline project to affiliates of Calgary-based Enbridge and Ohio-based Marathon Petroleum. That includes 27.6 percent to Enbridge and 9.2 percent to Marathon. The deal reduces Energy Transfer ownership to a controlling 38.25 percent, while ...

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