Chevron Corp. said Monday its Australian subsidiary will proceed with the massive Wheatstone Project in Western Australia to boost the commercialization of gas resources in the region. The first phase includes construction of two liquefied natural gas (LNG) processing trains and attendant infrastructure costing $29 billion.
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Targa Resources Partners LP said it plans to proceed with a $250 million expansion of its Mont Belvieu, TX, natural gas liquids (NGL) complex and its existing import/export marine terminal at Galena Park, TX, to provide export capability for 5,000 bbl per hour (b/h) of fully refrigerated, low-ethane propane.
A lawsuit filed by Amaranth Advisors LLC claiming JPMorgan Chase & Co. executives helped to cause the natural gas hedge fund to collapse may not proceed, New York Supreme Court Judge O. Peter Sherwood has ruled. The hedge fund imploded in a $6.4 billion debacle in 2006 on bad bets on natural gas futures and derivatives deals. Amaranth sued the bank a year later for its alleged role in the fund’s demise, claiming that JPMorgan officials interfered in a deal with Citadel by disparaging Amaranth’s financial condition (see NGI, Nov. 19, 2007). In a 32-page ruling Sherwood said Citadel had “conducted its own research in connection with the proposed transaction with the fund and evidence of the tenuousness of the fund’s financial condition was readily available” (Amaranth LLC v. JPMorgan Chase & Co., No. 603756/2007, New York Supreme Court, New York County).
The Federal Energy Regulatory Commission Thursday approved Dominion Transmission Inc. (DTI) proposal to build its Appalachian Gateway pipeline, which would carry shale and conventional gas production from West Virginia and southwestern Pennsylvania to growing markets in the Mid-Atlantic and Northeast regions.
The Federal Energy Regulatory Commission has granted Empire Pipeline Inc. a certificate authorizing it to proceed with a pipeline expansion in Pennsylvania and New York that would enable Marcellus Shale production to be shipped northward on the Empire system. The certificate authorizes Empire to construct, operate and replace about 15 miles of 24-inch diameter pipeline to extend the Empire Connector Pipeline, an interconnection with the facilities of Tennessee Gas Pipeline Co., and modifications to an existing compressor station to permit bidirectional flow on Empire’s system. Empire is a subsidiary of New York-based National Fuel Gas.
The Delaware River Basin Commission (DRBC) will hold another public hearing over plans by XTO Energy Inc., an ExxonMobil Corp. subsidiary, to withdraw up to 250,000 gal/d of surface water from a creek in New York for natural gas wells.
Oregon regulators on Thursday approved an all-parties settlement for Portland, OR-based NW Natural, allowing the natural gas distribution utility to proceed with its joint venture to develop gas reserves with a U.S. subsidiary of Calgary-based Encana Corp. (see Daily GPI, April 21).
Universities should be working to answer outstanding questions about shale development, but until they do the practice should proceed cautiously, if it proceeds at all, a Cornell University professor told students in Pittsburgh on March 18.
Universities should be working to answer outstanding questions about shale development, but until they do the practice should proceed cautiously, if it proceeds at all, a Cornell University professor told students in Pittsburgh on Friday.