In this issue

 

Free ReadNextDecade Corp. envisages reaching financial close on the 27 mtpa Rio Grande liquefaction and export project in Texas in the third quarter of this year. The project remains subject to…
Steelhead LNG, developer of the near-shore export plant on Vancouver Island, is investigating the pipeline route to bring feed-gas from the Chetwynd area of northeast British Columbia to Sarita Bay.…
Houston-based Kinder Morgan has touted it will supply up to 40% of the gas volumes for future U.S. LNG and pipeline exports, and stays on schedule to start up its…
Free ReadDevelopment banks of Brazil and Germany, BNDES and KfW Ipex-Bank, have agreed a corporate financing deal worth R$1.76 billion ($471m) for an LNG-fuelled power project at the port of Açu,…
SeaFloat, a barge-mounted power plant based on SGT-800 gas turbine, will be provided by Siemens and the maritime arm of ST Engineering for Bermuda-based Seaboard Corp. The 145 MW power…
The US Department of Energy (DOE) has eased reporting mandates for liquefied natural gas exporters that would keep track of the ultimate end-user of the natural gas shipped overseas. It…
Free ReadArgentina’s LNG export aspirations may soon be a reality as Exmar, the Belgian shipping firm, has entered a 10-year charter with YPF to deploy a floating LNG liquefaction vessel at…
Wednesday, 02 January 2019
Strong, sustained growth in U.S. gas production is putting downward pressure on Henry Hub spot and futures prices. Dry gas production increased to 83.3 Bcf/d in 2018, according to figures…
Tellurian, the US LNG developer founded by ex-Cheniere CEO Charif Souki, has sealed a preliminary deal with Vitol to supply 1.5 mtpa of LNG cargoes for 15 years. The accord…
Free ReadUS LNG exports could reach 60 mtpa by the end of 2019, making the Americans the world’s third-largest exporters. Both Cameron LNG in Louisiana and Freeport LNG in Texas are…
SeaFloat, a barge-mounted power plant based on SGT-800 gas turbine, will be provided by Siemens and the maritime arm of ST Engineering for Bermuda-based Seaboard Corp. The 450 MW power…
Boosting upstream investment, Chevron has set aside $3.6 billion for fracking in the Permian Basin out of a total $20 billion of capital spending in 2019. The decision comes as…
Wednesday, 02 January 2019
Free ReadAs the world’s top oil company, ExxonMobil does not need to worry about size when it comes to snapping up assets. The Texas-based oil giant is tipped as a potential…
Hit by a triple-whammy of weak cash flows, meager profits and slumping stock values, CEOs in the oil and gas industry are vary about continuing to invest in increasingly risky…

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.