Reacting to today’s events won’t get ExxonMobil Corp. where it wants to go in the next 10-15 years, CEO Rex Tillerson said Thursday. Instead, spending for the long haul on major projects will keep the major ahead of its peers, he told investment analysts at the company’s annual presentation at the New York Stock Exchange.
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Spend Through the Cycle for Long Term, Says ExxonMobil
Reacting to today’s events won’t get ExxonMobil Corp. where it wants to go in the next 10-15 years, CEO Rex Tillerson said Thursday. Instead, spending for the long haul on major projects will keep the major ahead of its peers, he told investment analysts at the company’s annual presentation at the New York Stock Exchange.
Spend Through the Cycle for Long Term, Says ExxonMobil
Reacting to today’s events won’t get ExxonMobil Corp. where it wants to go in the next 10-15 years, CEO Rex Tillerson said Thursday. Instead, spending for the long haul on major projects will keep the major ahead of its peers, he told investment analysts at the company’s annual presentation at the New York Stock Exchange.
Millennium Holding Open Season
Millennium Pipeline Co. is holding a nonbinding open season Monday through Aug. 7 offering firm shippers unsubscribed firm forward-haul capacity to be available Nov. 1.
Industry Briefs
TransCanada Corp. has settled some old business that could have been a stumbling block to development of a long-haul pipeline to carry Alaska North Slope natural gas to Lower 48 markets. The Federal Energy Regulatory Commission recognized the surrender of a certificate issued in 1977 to TransCanada subsidiary Alaskan Northwest Natural Gas Transportation Co. In the opinion of some, that certificate for a gasline project that never got built could have created a $9 billion liability to the subsidiary’s former partners to be borne by future shippers on the Lower 48 pipeline. While it was lobbying last year for the state concession to build the pipeline under the state’s Alaska Gasline Inducement Act process, TransCanada said the so-called “withdrawn partners liability” was a nonissue. Even if old legal business is not going to do in the company’s pipeline plans, current market circumstances still could. Weak gas prices and burgeoning Lower 48 gas production, as well as the potential for stepped-up imports of liquefied natural gas, all are causing some to question the economics of a Lower 48 gasline.
FERC Lifts Old Contract Cloud from Alaska Gasline Project
TransCanada Corp. last week settled some old business that could have been a stumbling block to development of a long-haul pipeline to carry Alaska North Slope natural gas to Lower 48 markets.
Industry Brief
Millennium Pipeline Co. LLC is holding a binding open season through Dec. 10 offering firm forward-haul capacity beginning on its in-service date, which is expected to be Dec. 15. Shippers may request firm service from any authorized mainline receipt point to any authorized mainline delivery point. Millennium can serve, directly or indirectly, markets in New York, New Jersey and New England. Western New York gas storage can be accessed directly via Millennium. And Canadian gas can be delivered through interconnections with Empire State Pipeline. More information is available at www.millenniumpipeline.com by following the link to customer information, or by calling James Corrigan at (860) 798-2878. Millennium is owned by affiliates of NiSource Inc., National Grid and DTE Energy.
Prospects Appear to Dim for Northern Gas Pipelines
The fate of two major long-haul natural gas pipelines intended to carry supplies to the Lower 48 appears to be stuck in neutral because of growing U.S. onshore production and the global financial crisis, U.S. and Canadian energy officials said.
Prospects Appear to Dim for Northern Gas Pipelines
The fate of two major long-haul natural gas pipelines intended to carry supplies to the Lower 48 appears to be stuck in neutral because of growing U.S. onshore production and the global financial crisis, U.S. and Canadian energy officials said.
Northern Border Pipeline Company Capacity Nearly Sold Out
Northern Border Pipeline Co. said Tuesday that it has made further progress in recontracting and has now nearly sold out the long-haul firm capacity on its 2.4 Bcf/d pipeline system. The additional capacity commitments are at the maximum transportation rates with terms of one to two years.