Entergy gets permit to put Gulf Run pipeline in service
Entergy Transfer, the owner of the Lake Charles LNG export project, has received regulatory permission to put the Gulf Run pipeline in service as a provider of LNG feed gas and volumes for the domestic market. Stretching across 135 miles in Louisiana, the pipeline has a capacity of 1.65 Bcf/d and its set to bring gas from all major US shale basins to Lake Charles. Here, Energy Transfer is converting its existing LNG import and regas terminal into a liquefaction facility with 16.45 MTPA of exports. Several long-term offtake contracts have been signed, and Entergy signalled more would be in preparation.
ExxonMobil to double upstream earnings by 2027
US oil and gas major ExxonMobil said its upstream earnings potential could double by 2027 from three years ago with production expected to grow by 500,000 oil-equivalent barrels per day to 4.2 million oil-equivalent barrels per day. More than half of the additional volumes will come its priority LNG production areas at the Golden Pass project in Texas, in Mozambique, in Papua New Guinea as well as Qatar. “Around 90 percent of upstream investments that bring on new oil and flowing gas production are expected to have returns greater than 10 percent at prices less than or equal to $35 per barrel,” the company disclosed.