In this issue

 

Free ReadTit-for-tat trade tariffs keep escalating the Sino-U.S. trade war and threaten to delay the second wave of American LNG export projects. Tellurian and other developers are expected to delay final…
Natural gas deliveries to U.S. LNG export plants set a monthly record in July, although gas use for power generation spiked to 44.5 billion cubic feet (Bcf) on July 19.…
The U.S. fracking sector “disappoints yet again” is the bleak verdict of IEEFA’s second quarter earnings review of oil and gas companies. Only 11 of the 29 scrutinized companies achieved…
In the Permian, the gas-to-oil ratio keeps rising at mature shale plays. The mismatch between surging gas production and constrained takeaway pipelines has pushed down gas prices into negative territory,…
Free ReadShale gas is now dominating the overall gas production in the United States and is forecast to reach an average 91.3 Bcf/d in 2019, up 8.0 Bcf/d from the previous…
Monday, 02 September 2019
Venture Global LNG has confirmed the closing of the project financing for its Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. The proceeds of the debt…
Monday, 02 September 2019
Developers of Commonwealth LNG have filed a formal application with U.S. regulators for a permit to build an 8.4 million tonnes per year export terminal and affiliated feedgas pipeline interconnect…
Free ReadWith Europe’s gas demand forecast to surge nearly 30% to 400 Bcm by 2035, Russia is eager to grow its market share. Eager to top rival suppliers, Gazprom is seen…
Brazilian infrastructure company Prumo Logistica is gearing up to start construction of its second gas power plant at the Port of Acu in Rio de Janeiro state before the end…
Jamaica’s Prime Minister Andrew Holness has confirmed the country is on track to generate half of its electricity from imported natural gas and renewables. The recent commissioning of New Fortress…
Capex-intensive Alaska LNG has been given another life-line, with supermajors ExxonMobil and BP committing to spend a further $20 million to help advance the $43 billion Alaska LNG project. Critics…
Free ReadTight oil and gas production in the United States could soon become less sensitive to price as super-majors like Chevron and ExxonMobil increase their shale acreage and commit to development…
Australian-owned LNG trading platform GLX is now allowing European gas buyers and sellers to access its digital bid-offer system for global spot LNG cargo dealings. U.S. and Russian cargoes are…
The Commonwealth LNG export project, proposed for the west side of the Calcasieu Ship Channel in Louisiana, has signed a Heads of Agreement with Singapore-based commodities trading house Gunvor. The…

News Nudges

Kinder Morgan sells 25% stake in Chicago city-gas supplier

US pipeline operator Kinder Morgan said a minority stake of 25 percent had been sold in the 9,000-mile Natural Gas Pipeline Company of America, which supplies city gas to Chicago and feed gas to LNG plants on the Gulf Coast of Texas and Louisiana. Kinder Morgan and the other joint owner of the pipeline, Brookfield Infrastructure Partners of Canada, sold the NGPL stake to a fund controlled by ArcLight Capital Partners, based in Boston, Massachusetts, and specialising in energy sector investment. “The value of the minority interest implies an enterprise value of about $5.2 billion for NGPL, representing 11.2 times its 2020 earnings before interest, taxes, depreciation and amortization,” said a statement from Kinder Morgan and Brookfield. Kinder Morgan and Brookfield said they would each hold a 37.5 percent interest in NGPL following the closing of the ArcLight deal and Kinder would continue to operate the pipeline.