Kinder Morgan to commence work on $2bn Permian Highway Pipeline
Kinder Morgan received approval to begin work on the $2bn Permian Highway Pipeline (PHP) Project after the Travis County District Court dismissed all claims made against the gas pipeline.
In April, a group of Texas landowners and officials filed a legal challenge to block construction of the project. The group alleged that the oil and gas regulator failed to seek proper public feedback on the routing of the Permian Highway Pipeline.
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The court decision eliminates challenges to the state licensing process that currently allows gas pipeline companies to make their own route and acquire land without a landowner’s consent.
Canada approves Trans Mountain oil pipeline expansion
The Government of Canada approved the expansion of the Trans Mountain oil pipeline, which will provide additional revenues to fund a clean energy future.
The decision comes nearly a year after a federal court rejected the government’s approval for the expansion citing environmental concerns and its impact on the indigenous communities.
The expansion project will bolster the capacity of the Trans Mountain pipeline, which connects Alberta’s oil sands to the Pacific coast of British Columbia, enabling it to transport around 890,000bpd.
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By GlobalDataNine Point Energy signs $320m loan facility for Williston Basin
Nine Point Energy entered a $320m term loan facility with AB Private Credit Investors serving as administrative agent and lead-arranger.
AB Private provides financing solutions to middle-market companies.
The loan will be used by Nine Point to fund the continued growth of the Williston Basin development programme.
ExxonMobil proceeds with Vaca Muerta expansion in Argentina
ExxonMobil announced plans to move ahead with long-term oil development on Bajo del Choique-La Invernada block in Argentina’s Vaca Muerta basin.
The project is expected to produce as much as 55,000 barrels of oil equivalent per day (boe/d) within five years. It will include 90 wells, a central production complex and export infrastructure, all connected to the Oldeval pipeline and refineries.
The company plans to invest in a second phase, which would produce as much as 75,000boe/d if the expansion is successful.
Shell and Gazprom to develop licence blocks in Yamal
Gazprom Neft and Shell signed an agreement at St Petersburg International Economic Forum to create a joint venture (JV) for the development of licence blocks in the Yamalo-Nenets Autonomous Okrug.
The two companies signed legal documentation on the purchase and sale of a 50% stake in Meretoyahaneftegaz, creating a JV on that basis.
Meretoyakhaneftegaz owns a licence for the Meretoyakhinskoye field. The JV’s asset portfolio will also include a licence for several sites, including the Tazovsky and Severo-Sambrugsky, as well as two Zapadno-Yubileiny blocks in Yamal following the close of the transaction.
Total signs agreement to acquire Toshiba’s LNG business
French energy firm Total signed an agreement to acquire Japanese firm Toshiba’s portfolio of liquefied natural gas (LNG) business.
This agreement covers a 20-year tolling agreement for 2.2 million tonnes per annum (Mtpa) of LNG from Freeport LNG train 3 in Texas, as well as the associated gas transportation agreements on the pipelines that feed the terminal.
Train 3 of the Freeport LNG plant is slated to begin commercial operations by the second quarter of next year.
BPCL and HPCL to each acquire 25% stake in IOC’s LPG pipeline project
Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL) and Indian Oil Corporation (IOC) signed a joint venture agreement in which BPCL and HPCL will each own a 25% stake in IOC’s LPG pipeline project.
The remaining 50% stake will be held by IOC.
The project involves laying of a 2,757km-long liquefied petroleum gas (LPG) pipeline from Kandla in Gujarat to Gorakhpur in Uttar Pradesh. Once built, it will be the country’s largest LPG pipeline.
SolSpec launches integrity management solution for pipeline operators
Remote sensing and data analytics provider SolSpec launched SolSpec ROW Integrity Management solution for oil and gas pipeline owners and operators.
SolSpec ROW Integrity is an advanced aerial imagery and data analytics solution and can be used by the operators to predict, quantify and prioritise risk mitigation.
It has been designed to evaluate mitigate and avoid geohazard risks on pipeline right-of-ways.
India’s ONGC to auction more than 60 fields to private companies
Indian multinational oil and gas firm Oil and Natural Gas Corporation (ONGC) is set to auction more than 60 of its discovered small and marginal fields to private companies.
ONGC will shortly auction the fields under the production enhancement contracts (PEC) mechanism, followed by global energy firms to increase production from mature oil fields.
In January, the Indian Government allowed ONGC to bring in the private sector for increasing production in order to better utilise its hydrocarbon resources and reduce reliance on foreign oil.
Singapore’s Pavilion Energy to acquire Iberdrola’s LNG asset portfolio
Singapore-based Pavilion Energy signed an agreement to acquire a portfolio of LNG assets from Spanish energy company Iberdrola.
The agreement was signed by Pavilion Energy Trading & Supply, a wholly owned subsidiary of Pavilion Energy.
The financial details of the agreement were not revealed.
