In an effort to improve its access to major refining and petrochemical markets in southern Louisiana, Enterprise Products Partners LP (EPP) has purchased three intrastate natural gas liquids (NGL) pipeline systems from Chevron Midstream Pipelines LLC for an undisclosed price. EPP said the move will expand and extend the partnership’s South Louisiana network of midstream infrastructure. Originating from a central point in Henry, LA, the 212 miles of intrastate pipelines extend westward to Lake Charles, northward to Breaux Bridge in St. Martin Parish and eastward to Napoleonville, where Enterprise’s Promix NGL fractionation and storage facilities are located. “Reflecting the efficiencies and flexibility of our integrated midstream network, this targeted acquisition enhances our NGL pipeline access to the sizeable refining and petrochemical complex in Lake Charles for a relatively modest capital investment,” said EPP CEO Michael A. Creel, president and CEO of Enterprise. He noted that the assets acquisition would “complement our ongoing expansion plans in South Louisiana.” EPP’s network of intrastate pipelines in Louisiana transports NGL products between key supply points, including the partnership’s storage and terminal facilities at Breaux Bridge and its fractionation facilities at Norco, Promix and Baton Rouge, as well as various markets at Napoleonville, Geismar and other points along the Mississippi River. In addition to improving the partnership’s Louisiana NGL pipeline system to Lake Charles, the acquisition will increase capacity between Breaux Bridge and Napoleonville, EPP said. This bidirectional pipeline will also provide additional capacity for delivering Louisiana propane production into the Enterprise-owned Dixie Pipeline system for transportation to end-use markets throughout the southeastern United States or to the partnership’s Mont Belvieu, TX, NGL fractionation complex.
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ConocoPhillips to Sell $10B in Assets to Improve Financial Position
Oil and gas heavyweight ConocoPhillips said last week it is planning on divesting billions of dollars in assets over the next two years as part of a plan to improve its financial position and increase returns on capital. The company said it plans to achieve its goals through a combination of enhanced capital discipline and portfolio rationalization.
ConocoPhillips to Sell $10B in Assets to Improve Financial Position
Oil and gas heavyweight ConocoPhillips said Wednesday it is planning on divesting billions of dollars in assets over the next two years as part of a plan to improve its financial position and increase returns on capital. The company said it plans to achieve its goals through a combination of enhanced capital discipline and portfolio rationalization.
Senators Offer Bills to Expand Energy Efficiency Tax Incentives
Sen. Jeff Bingaman (D-NM) and Sen. Olympia Snowe (R-ME), both members of the Senate Finance Committee, have introduced four measures to expand and improve upon energy efficiency tax incentives for vehicles, homes and commercial buildings and industrial facilities, as well as tax breaks to help consumers and businesses convert to cheaper and cleaner fuels, such as natural gas. The two plan to incorporate the tax incentives in the energy tax package that the finance panel expects to consider this fall.
Industry Brief
The U.S. Department of Energy (DOE) will provide nearly $38 million in funding under the American Recovery and Reinvestment Act to improve state emergency preparedness plans and ensure quick recovery and restoration from energy supply disruptions, DOE said. Funds will be used by state governments to hire or retrain staff and expand state-level capacities to address challenges to the country’s energy systems, including emergency situations such as blackouts, hurricanes, ice storms and disruptions to heating supplies. Each state will be required to track energy emergencies to assess the restoration and recovery times of any supply disruptions; to train personnel on energy infrastructure and supply systems; and conduct and participate in state and regional energy emergency exercises to evaluate the effectiveness of their energy assurance plans. The awards will also help states address cyber security concerns and prepare for the challenges of integrating smart grid technologies and renewable energy sources into the transmission network.
Senators Offer Bills to Expand Energy Efficiency Tax Incentives
Sen. Jeff Bingaman (D-NM) and Sen. Olympia Snowe (R-ME), both members of the Senate Finance Committee, introduced four measures last week to expand and improve upon energy efficiency tax incentives for vehicles, homes and commercial buildings, industrial facilities and consumers and businesses. The two plan to incorporate the tax incentives in the energy tax package that the finance panel expects to consider this fall.
Alberta to Revise Gas Drilling Incentives
Alberta officials as soon as Thursday are expected to announce revamped natural gas drilling incentives to improve the province’s appeal to producers and investors, Premier Ed Stelmach said.
Bentek: New Midcontinent Pipe Capacity, Drilling Plunge Lead to Mayhem
Completion this year of 3 Bcf/d of pipeline takeaway capacity within the 13-state Midcontinent region will give producers new marketing opportunities and improve regional pricing differentials, but the plunge in onshore gas drilling activity may have consequences, Bentek Energy reported last week.
Bentek: New Midcontinent Pipe Capacity, Drilling Plunge Lead to Mayhem
Completion this year of 3 Bcf/d of pipeline takeaway capacity within the 13-state Midcontinent region will give producers new marketing opportunities and improve regional pricing differentials, but the plunge in onshore gas drilling activity may have consequences, Bentek Energy said in a new report.
PG&E CEO: NW Power, Gas Pipe Projects Stalled
With a potential equity and energy interest in both, Pacific Gas and Electric Co. (PG&E) views major interstate natural gas pipeline and electric transmission projects in the Pacific Northwest as treading water, awaiting other key market and regulatory developments, according to PG&E Corp. CEO Peter Darbee, speaking on a conference call with financial analysts last Wednesday. For now, the projects are in what Darbee called the San Francisco-based combination utility’s “far-end guidance period” (2012-13).
