Novatek approved $19bn financing for Yamal LNG plant construction
The shareholders of Novatek approved $19bn of external financing to be raised for the construction of Yamal LNG plant in Russia.
So far, Yamal LNG concluded loan agreements related to financing from the National Welfare Fund of Russia, as well as project financing agreements with Sberbank, Gazprombank, Export-Import Bank of China and the China Development Bank for $18.4bn.
Of the total amount, more than $4bn was already withdrawn.
The Yamal LNG project was involved in the construction of the natural gas liquefaction plant on the base of the hydrocarbon resources of the South-Tambeyskoye field.
Energy Transfer Equity terminated $37.7bn merger agreement with Williams
US-based pipeline company Energy Transfer Equity (ETE) terminated its previously announced $37.7bn merger agreement with the Williams Companies.
The Delaware Court of Chancery issued an opinion finding that ETE is contractually entitled to cease the agreement with Williams, as ETE’s counsel Latham & Watkins could not deliver a required tax opinion prior to the 28 June 2016 outside date in the merger agreement.
Latham advised ETE that it failed to deliver the opinion as of the outside date.
Consistent with its rights and obligations under the agreement, ETE provided written notice terminating the merger agreement due to failure of conditions.
Iowa regulator approved Dakota Access’ $3.7bn Bakken Oil pipeline project in US
The Iowa Utilities Board has voted 2-1 to approve the request put forth by Dakota Access to start construction of the $3.7bn Bakken Oil pipeline in areas outside the US Army Corps jurisdiction.
General Counsel will prepare an order for the board’s review, which will not be final until it has been approved, signed and issued by them.
The board also issued an order on 3 May and an order accepting compliance filings and issuing permit on 8 April this year.
GE Oil & Gas and Technip signed MoU to develop digital solutions for new LNG projects
UK-based GE Oil & Gas and French company Technip signed a memorandum of understanding (MoU) to develop digital solutions aimed at expediting the delivery of new liquefied natural gas (LNG) projects.
Under the MoU, the companies will primarily focus on the design and build phase.
GE Oil & Gas turbomachinery solutions president and CEO Rod Christie said: "Combining our complementary areas of expertise allows us to explore new digital capabilities for LNG that can be applied from the design and build phases all the way through to operational phases.
"By embedding digital thinking at the very beginning of project development, we are truly building the digital future of oil and gas."
FERC approved Kinder Morgan’s $2bn Elba liquefaction project in US
Kinder Morgan’s subsidiaries Elba Liquefaction (ELC) and Southern LNG (SLNG) received authorisation from the Federal Energy Regulatory Commission (FERC) in the US for the $2bn Elba liquefaction project.
The project is set to be constructed and operated at the existing Elba Island LNG terminal near Savannah, Georgia. The first of ten liquefaction units is expected to come online in the second quarter of 2018.
Kinder Morgan said that the remaining nine units will be put in service before the end of 2018.
TransCanada requested $15bn in damages over Keystone XL pipeline rejection
TransCanada requested arbitration under the North American Free Trade Agreement (Nafta) over US President Barack Obama’s denial of the Keystone XLpipeline and has been seeking $15bn in damages.
The proposed 1,897km, 36in-diameter crude oil pipeline will begin in Hardisty and extend south to Steele City.
In its legal papers file, TransCanada argued that there were reasons to believe that the company would win approval to build the pipeline.
Suncor planned to raise $2.5bn to reduce debt and fund Syncrude Canada acquisition
Suncor Energy announced plans to raise $2.5bn to reduce debt and fund the acquisition for a stake in Syncrude Canada.
As part of its plans, the company proposed to offer 71.5 million common shares from treasury, on a bought deal basis, at a price of $35 per share.
The offering was planned to be made through a syndicate of underwriters led by TD Securities, CIBC Capital Markets and JP Morgan Securities Canada.
Jemena selected Intertek for $591m Northern Gas Pipeline project
UK-based Intertek was selected to provide third party inspection services to support the procurement of energy infrastructure company Jemena’s A$800m ($591m) Northern Gas Pipeline (NGP) project.
In November last year, the Northern Territory Government selected Jemena to build and operate the North East Gas Interconnector, which is now known as the NGP.
The proposed 623km pipeline will connect Northern Australia’s vast gas fields to the east coast gas market and would run from Tennant Creek in the Northern Territory to Mount Isa in Queensland.
ABB awarded leak detection and security contract to OptaSense and Optilan for Tanap project in Turkey
ABB awarded the $30m combined leak detection and security contract to OptaSense, a QinetiQ company, and its partner Optilan for the Trans-Anatolian Natural Gas Pipeline (Tanap) natural gas pipeline project in Turkey.
ABB is serving as the engineering, procurement and construction prime contractor for the delivery of the control infrastructure for TANAP.
Leak and intrusion detection are important to maintain pipeline integrity and production maximisation in the oil and gas industry.
Cheniere Energy and Bechtel achieved completion of train 1 of Sabine Pass project in US
Cheniere Energy and Bechtel achieved substantial completion of train 1 of the Sabine Pass liquefaction project (SPA project) in Cameron Parish, Louisiana, US.
Commissioning of the train has been completed and Bechtel planned to hand over its control to Cheniere.
Under an agreement signed by Cheniere with BG Gulf Coast in October 2011, the date of first commercial delivery (DFCD) for train 1 is set to occur in November this year. Prior to DFCD, BG has certain rights to early cargoes produced from the train as described in the agreement.
