Investment

Oneok Inc. plans to invest $2.3 billion by 2020 on projects including a Midcontinent-to-Gulf Coast natural gas liquids (NGL) pipeline, a fractionation facility in Mont Belvieu, TX, and a natural gas processing plant in North Dakota, the Tulsa-based company said Wednesday.

Dallas-based IOG Capital LP, which has an array of partnerships in the U.S. onshore to develop conventional and unconventional assets, said Thursday it has invested in three new drilling projects, one in the Eagle Ford Shale and two in Oklahoma.

Global oil and natural gas investments are predicted to climb this year, as U.S. onshore unconventional development spending rises, the International Energy Agency (IEA) said Tuesday.

Momentum continues building for efforts to attract a substantial natural gas liquids (NGL) storage hub in the Appalachian Basin, with the American Chemistry Council (ACC) unveiling a study on Thursday touting the potential economic benefits and U.S. lawmakers calling on state legislatures to get more deeply involved.

Dow Chemical Co. on Thursday launched a five-year, $4 billion petrochemical buildout, mostly for U.S. projects, that would add a 600,000 metric ton polyethylene unit on the Gulf Coast and expand a new Texas ethylene cracker to create the largest facility of its type in the world.

Liquefied natural gas (LNG) terminal developer NextDecade LLC has named GE Oil & Gas exclusive supplier of gas turbine and compressor equipment for the liquefaction trains of its Rio Grande LNG project and associated Rio Bravo Pipeline in Texas. GE Oil & Gas also is providing NextDecade with a common equity investment and has been granted the right to invest up to a specified amount in project-level equity and debt financing for Rio Grande LNG at the time of final investment decision.

Investment funds managed by EIG Global Energy Partners (EIG) have taken a 49% joint venture (JV) stake in Elba Liquefaction Co. LLC (ELC).

California’s extensive utility-operated natural gas transmission/distribution pipeline network will continue to receive billion of dollars in enhancements this year, according to the state’s two main operators — Sempra Energy’s Southern California Gas Co. (SoCalGas) and Pacific Gas and Electric Co. (PG&E).

Whether the optimistic outlook permeating the energy sector is more cautious or full-speed ahead will become increasingly clear in the coming weeks as operators unveil their year-end earnings results and, more important, their spending plans for 2017.