Williams’ board has voted to approve the company’s Bluegrass Pipeline project. The company has been engaged in development work on the proposed natural gas liquids (NGL) pipeline, which has a targeted in-service date of late 2015. The Bluegrass Pipeline will connect supply from the Marcellus and Utica shales to growing petrochemical and export markets in the U.S. Gulf Coast (see Shale Daily, May 30; March 7). The pipeline also will connect NGL supply with the developing petrochemical market in the U.S. Northeast. Williams and Boardwalk Pipeline Partners LP in May formalized joint-venture agreements tied to the project and related fractionation, storage and export projects.
Articles from Engaged
Cheniere Energy Partners LP’s Sabine Pass Liquefaction LLC has engaged 17 financial institutions for credit facilities to fund the remaining debt necessary to develop and place into service the first four trains of the Sabine Pass liquefaction project. “We will amend and upsize the existing term loan A credit facility that was entered into last year for the financing of the first two trains [see Daily GPI, April 17, 2012], extending the available capacity to accommodate four liquefaction trains,” Cheniere said. Obtaining debt financing is one of the last steps to complete before proceeding with construction of trains 3 and 4.
As a bill to ban actively engaged oil and natural gas representatives from serving on the Colorado Oil and Gas Conservation Commission (COGCC) neared a final vote in the state senate Monday or Tuesday, a coalition of business and citizens groups commended the more than 120 local elected officials who have publicly supported the governor’s pursuit of reasonable oil and gas solutions.
An investor group led by Kohlberg Kravis Roberts & Co. LP (KKR) has agreed to pay $7.2 billion for Samson Investment Co. of Tulsa, one of the largest privately held exploration and production (E&P) companies in the United States. The deal gives KKR and its partners stakes in a number of unconventional resources plays.
November natural gas engaged in its typical post-Energy Information Administration (EIA) storage report gymnastics Thursday, but traders saw other forces at work rather than the on-target EIA storage figures.
Interior Secretary Ken Salazar is convening a forum with ministers and senior government officials from 13 countries and the European Union that are engaged in offshore oil and gas extraction, along with representatives from industry, academia and nongovernmental organizations, to discuss the development of cutting-edge technologies for containing potential deepwater well blowouts on outer continental shelves. Salazar, who is meeting this week with Brazilian and Mexican officials to discuss cooperative efforts on safety in offshore energy development, said the Ministerial Forum on Offshore Drilling Containment will be held at the Interior Department in Washington, DC, April 14. More information about the forum, including a draft agenda, is available at http://www.doi.gov/whatwedo/energy/MFODC2011/index.cfm.
It appeared that market watchers were engaged in a round of “buy the rumor, sell the fact” following Thursday’s news from the Energy Information Administration (EIA) that 164 Bcf was withdrawn from natural gas storage for the week ending Dec. 10. Immediately following the report, front-month futures values plummeted toward $4.
The Interior Department and American Petroleum Institute (API) President Jack Gerard engaged in a war of words last Wednesday over the impact of the Obama administration’s policies on the development of onshore and offshore oil and natural gas.