Archive for 'Industry news'

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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ExxonMobil and Sunoco agree on a new midstream joint venture

Sunoco Logistics has entered into a strategic joint venture (JV) with ExxonMobil, called Permian Express Partners, to combine certain areas of their crude oil logistic assets. As part of the agreement Sunoco will contribute its Permian Express 1 and 2, Permian Longview, and Louisiana Access pipelines. ExxonMobil will contribute its Longview to Louisiana and Pegasus pipelines, its Hawkins gathering system, an idle pipeline in southern Oklahoma, and its terminal in Patoka, Illinois. The JV has been created to establish a ...

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Fire forces closure of key oil pipeline in Nigeria

Shell says a fire has forced it to close a key oil pipeline feeding Nigeria’s strategic Bonny Export Terminal, which militants attacked last week. The ongoing challenges are losing oil multinationals billions of dollars in what used to be Africa’s biggest petroleum producer. SBM Intelligence risk analysts estimate that renewed militant attacks, low oil prices and weak refinery margins have cost Dutch-British Shell and U.S.-based Chevron and ExxonMobil $7.1 billion in the first half of the year, representing ...

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Mountain Valley Pipeline project delayed for impact statement

Construction on the Mountain Valley Pipeline was slated to start in December. However, construction on the $3.5 million, 300-mile natural gas pipeline could be delayed until next summer after the Federal Emergency Regulatory Commission said recently the final Environmental Impact statement will likely be released in March 2017. After the release, FERC commissioners have 90 days to make a decision on whether to green or red light the projects. With those delays the earliest construction can start is ...

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