Import

Prolific oil production from U.S. shales is weighing on the need for imports, OPEC acknowledged in its latest Monthly Oil Market Report (MOMR), and analysts at Barclays predicted that the Organization of the Petroleum Exporting Countries will see its influence over market balances decline over the next few years.

Aguirre Offshore GasPort LLC, a unit of Excelerate Energy LP, has filed an application at FERC to build a floating offshore liquefied natural gas (LNG) import terminal and associated facilities to provide gas to the largest power generation facility in Puerto Rico.

The Federal Energy Regulatory Commission has vacated authorizations for Calhoun LNG and Point Comfort Pipeline to site, construct and operate a liquefied natural gas (LNG) import terminal and associated facilities at the port of Port Lavaca-Point Comfort in Calhoun County, TX. The Commission approved the project in September 2007 (see NGI, Sept. 24, 2007). The companies, which had planned to build a 1 Bcf/d LNG terminal and a 27.1-mile, 36-inch diameter pipeline from the terminal to pipeline interconnects southwest of Edna, TX, filed a request to vacate the authorizations in December. Calhoun LNG is a subsidiary of Houston-based Gulf Coast LNG Partners LP.

The Federal Energy Regulatory Commission has vacated authorizations for Calhoun LNG and Point Comfort Pipeline to site, construct and operate a liquefied natural gas (LNG) import terminal and associated facilities at the port of Port Lavaca-Point Comfort in Calhoun County, TX. The Commission approved the project in September 2007 (see Daily GPI, Sept. 21, 2007). The companies, which had planned to build a 1 Bcf/d LNG terminal and a 27.1-mile, 36-inch diameter pipeline from the terminal to pipeline interconnects southwest of Edna, TX, filed a request to vacate the authorizations in December. Calhoun LNG is a subsidiary of Houston-based Gulf Coast LNG Partners LP.

FERC has approved almost two more months for the public to comment in Oregon on the proposed Jordan Cove liquefied natural gas (LNG) import-export facility and connecting transmission pipeline, which would be sited along the south-central coast at Coos Bay.

ExxonMobil Corp.’s production in the Bakken Shale has reached about 32,000 boe/d, which is 60% higher than a year ago and double the amount the company was producing just three years ago, a top executive said Thursday. Two more oil-directed rigs have been added to the play in just the past three months.

FERC on Thursday rejected Sierra Club’s request for rehearing of orders approving a proposal by Sabine Pass Liquefaction LLC and Sabine Pass LNG LP to liquefy and export natural gas, as well as the environmental group’s plea to stay the orders. The action makes the case ripe for court review.

India’s state-owned Oil and Natural Gas Corp. Ltd. (ONGC) announced Friday that it has signed a memorandum of understanding (MOU) with ConocoPhillips to explore and develop shale and deepwater resources in India and North America.

India’s Ministry of Petroleum & Natural Gas (MPNG) on Tuesday told lawmakers in the Rajya Sabha, the upper house of the country’s Parliament, it will announce a new regulatory framework for shale gas development by March 31.