Private hedge fund operator Third Point LLC, which is run by activist investor Daniel Loeb, listed Chesapeake Energy Corp. as one of the fund’s largest new holdings in a June exposure report to investors, according to several market followers.
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Gulf Coast Propane Unit to Capitalize on Shale NGLs
Enterprise Products Partners LP plans to build one of the world’s largest propane dehydrogenation (PDH) units on the Texas Gulf Coast to take advantage of abundant supplies of propane thrown off by shale gas plays and to address periodic shortages of propylene in the region.
Industry Briefs
Celanese Corp. plans to construct a methanol production facility at its Clear Lake, TX, acetyl complex to take advantage of abundant natural gas supplies in the region, the company said. “The positive developments in the U.S. energy complex and the current and emerging natural gas surplus make it advantageous for us to produce our own methanol requirements for U.S. acetyl production,” said CEO Mark Rohr. “Utilizing existing Celanese infrastructure helps reduce capital requirements while capturing advantages of state-of-the-art technologies.” Following necessary approvals, Celanese intends to construct a 1.3 million metric ton per year facility with anticipated start-up after July 1, 2015. A significant portion of the methanol produced would be used to support the company’s current operations, Celanese said, adding that it expects to partner with one or more others interested in the remaining methanol.
Shale Gas Prompts Kuraray to Build $10M Plastics Plant in Texas
Japanese chemical manufacturer Kuraray Co. Ltd. announced Tuesday that it plans to take advantage of an abundance of shale gas in the United States and will build a $10.1 million facility in Texas to produce plastic.
Shale Plays Continue to Drive Up U.S. Production, EIA Says
Strong growth in the total marketed production of natural gas last year — an estimated increase of 4.8 Bcf/d (7.9%) compared with 2010 — was driven in large part by increases in shale gas production, according to the Energy Information Administration (EIA).
Questar Makes Push to Build Nationwide NGV Business
Salt Lake City-based Questar Corp. has launched a business unit to take advantage of potential growth in the natural gas transportation fueling business, especially trucking fleets, senior executives said Wednesday during a 1Q2012 earnings conference call.
Record Domestic Onshore Gas Output in January, Says EIA
It may take some time before fewer drilling rigs and curtailed output make a dent in domestic onshore natural gas production. Dry gas production skyrocketed 11.6% in January from a year earlier to 2,047 Bcf gross, the Energy Information Administration (EIA) said.
Susquehanna Supply Hub Readied by Williams
Williams is seeing “a lot of demand for increased growth” in the Northeast and is ready “to take advantage” with a bevy of major infrastructure expansion projects, CEO Alan Armstrong told investors on Thursday.
Trio to Construct Crude Oil Pipeline to Cushing
To deal with growing midstream activity in western Oklahoma and the emerging Mississippi Lime, SemGroup Corp., Gavilon Midstream Energy LLC and an affiliate of Chesapeake Energy Corp. plan to construct a 210-mile crude oil pipeline to carry supplies to a 1 million bbl storage facility in Cushing, OK.
U.S. Shale Gas May Erode ‘Bridge’ to Low Emissions Future
Unconventional shale gas in the United States has proved to be a boon to the domestic economy, but if it’s only a “bridge” to a low carbon future, efforts have to be stepped up to “prepare a landing at the other end” — and that won’t be easy, energy economists said in a new report.