Integrated

A $5 billion integrated liquefied natural gas (LNG) import terminal, petrochemical complex and gas-fired cogeneration power plant in Goldboro, NS, received a favorable preliminary environmental review with a number of conditions last week. The Maple LNG project, formerly named Keltic LNG, which is sponsored by Netherlands-based Petroplus International and Russia’s Suntera Canada Ltd., would provide 1 Bcf/d of gas to the power plant and petrochemical complex being built by Keltic Petrochemicals.

Tightly held Targa Resources Inc. plans to spin off its North Texas midstream assets, which include 3,950 miles of integrated natural gas gathering pipelines, two natural gas processing plants and a fractionator in the Fort Worth area, through an initial public offering (IPO) of 16.8 million common units.

As part of the ongoing integrated resource plan (IRP) state regulatory proceeding, Nevada’s two major private sector electric utilities agreed in a stipulation earlier in September to modify their approach to natural gas price hedging. The state attorney general’s consumer protection bureau, Nevada Resort Association and Nevada Public Utilities Commission (PUC) staff engineered the agreement with the utilities, which still must be approved by the three-member PUC.

In keeping with an earlier released 10-year integrated resource plan (IRP), Avista Utilities Monday issued a request for information (RFI) to identify new potential energy-saving programs. The utility hopes the ideas generated by the RFI will lead to a formal request for proposals (RFP) process to line up new conservation efforts. Responses to the RFI are due April 24.

Two of the top U.S.-based integrated majors, ConocoPhillips and Amerada Hess Corp., along with revamped independent Kerr-McGee Corp., reported Wednesday phenomenal earnings growth in 4Q2005 and full-year 2005, boosted by soaring oil and natural gas prices. ConocoPhillips also recorded natural gas production gains in Alaska and the Lower 48 states in the final quarter; however, gas output at Hess and Kerr-McGee for the final period and the year was lower.

With the adoption of the 2005 update of California’s Integrated Energy Policy Report (IEPR) slated for next month, the presiding member of the five-member California Energy Commission (CEC), charged with publishing the guidebook for the governor and legislature earlier this month, expressed his frustration with the state’s effort to reshape a coherent, effective energy strategy.

Share repurchases by the top six global integrated oil companies — ExxonMobil Corp., BP plc, Total SA, Chevron Corp., Royal Dutch Shell and ConocoPhillips — could total $40 billion in 2005, up 63% from the record $24.5 billion of buybacks in 2004, according to a study by energy consulting firm John S. Herold Inc. “Super” independents’ stock buybacks also more than tripled to $13 billion in 2005, up from $3.4 billion in 2004.

FERC last Wednesday approved an application of El Paso Natural Gas to expand its system by 502 MMcf/d through an integrated project that would involve the use of existing pipeline facilities, the acquisition of transportation capacity on other pipelines, the construction of a new interconnect and the conversion to gas service of a crude oil pipeline.

FERC on Wednesday approved an application of El Paso Natural Gas to expand its system by 502 MMcf/d through an integrated project that would involve the use of existing pipeline facilities, the acquisition of transportation capacity on other pipelines, the construction of a new interconnect and the conversion to gas service of a crude oil pipeline.