Daily GPI / Markets / NGI All News Access

Briefs -- Honduran Reverse LNG Trade Mission | MVP Reviewing Court Decision | Southcross Terminals American Midstream Merger

The U.S. Trade and Development Agency has awarded a reverse trade mission (RTM) contract to Skipping Stone LLC and Meridian International Center. The two firms are scheduled to manage an RTM on liquefied natural gas (LNG) solutions with a delegation of 10 senior executives from the public and private sectors of Honduras, Aug. 13-17. The RTM will focus on planning and infrastructure for medium- to large-scale gas terminals and power generation facilities. Included in the itinerary is a business briefing by the Honduran RTM delegation in Houston, Aug. 14; attendance is free but RSVP is required.

Mountain Valley Pipeline LLC (MVP) is reviewing a federal court’s decision to rescind permission for all construction activities in the Jefferson National Forest (JNF). Responding to cases brought by three environmental organizations, the court vacated the U.S. Forest Service (USFS) and Bureau of Land Management's (BLM) decision to allow MVP to cross a 3.5 mile segment of the forest. An MVP spokesperson said the project is “working with the agencies to evaluate the effect of the order on construction activities in the national forest, which amounts to about 1% of the overall project route.” The court found that the USFS did not fully explain its rationale on sedimentation impacts and that the BLM violated the Mineral Leasing Act by approving a new right-of-way across the JNF. The matter has been remanded to the agencies for further proceedings. The project has already been delayed by three months over another legal challenge related to its Nationwide Permit 12.

Southcross Energy Partners LP has terminated a merger plan and agreement to become a subsidiary of American Midstream Partners LP (AMID). AMID launched the tie-up last fall and it was to have been completed by the end of 2Q2018. Southcross said it provided written notice terminating the merger because of “AMID’s failure to achieve conditions required under the merger agreement.” In addition, effective July 29, Southcross Energy’s parent, Southcross Holdings LP, terminated its contribution agreement with AMID “as a result of a funding failure by AMID.”  Under the terms of the contribution agreement, Southcross Holdings is entitled to receive a $17 million termination fee, a portion of which would be used to reimburse some of its transaction costs.

Copyright ©2018 Natural Gas Intelligence - All Rights Reserved.
ISSN © 2577-9877 | ISSN © 1532-1231

Recent Articles by NGI Staff Reports

Comments powered by Disqus