Industry Briefs

Chevron Corp. and Massachusetts Institute of Technology (MIT) have teamed up to develop remote, ultra-deepwater exploration and production technology. The $5 million Chevron Remote and Ultra-Deepwater Research Program will focus on developing technologies to access hydrocarbons in water depths up to and deeper than 3,000 meters in a safe, cost effective and environmentally friendly manner. The program includes the sponsorship of two named fellowships — the Chevron Energy Fellows — and makes Chevron a sustaining member of the MIT Energy Initiative (MITEI), which was created to address global energy issues. The five-year program also will support MITEI’s energy research seed fund to promote the development of a broad range of novel, innovative energy technologies and concepts across the institute.

November 26, 2007

CA Dreams ‘Green’ with PG&E’s Help; Gov.’s Inaugural Energized

In California, state officials are dreaming green this year, and the state’s major utility, San Francisco-based Pacific Gas and Electric Co., has teamed up with some major farm and biofuel folks to make Gov. Arnold Schwarzenegger’s inauguration Friday a clean energy gala. Take a little animal manure and mix in some soybean oil and sunshine and you have the perfect carbon-neutral green cocktail for the state’s political elite.

January 8, 2007

Government Rejects Aboriginal Taxation of Mackenzie Pipe

A potentially big risk — new native taxation — has been taken out of Canada’s arctic natural gas pipeline project. The Northwest Territories and federal governments teamed up to assure the C$7.5 billion (US$6.75 billion) Mackenzie Gas Project that demands for aboriginal property taxes are nonstarters.

August 11, 2006

Storage Revision, Hefty Injection Help Push Futures Lower

Natural gas storage revisions, a sizeable injection and continued weakness in crude futures teamed up Thursday to pull the June natural gas futures contract lower in its first regular session as prompt month. June natural gas hit a low of $6.780 before settling at $6.805, down 46.6 cents on the day. The June contract has shed $1.605 over the last six sessions.

April 28, 2006

In Wake of Nymex-CME Electronic Trading Deal, ICE Vows to Remain Competitive

With news last week that the New York Mercantile Exchange (Nymex) had teamed with the Chicago Mercantile Exchange (CME) in an electronic energy trading venture, the IntercontinentalExchange (ICE), which arguably stands the most to lose from the deal, said Friday that it will continue to expand its energy offerings.

April 11, 2006

CenterPoint, Duke Test Market Interest in 250-Mile Perryville-to-Gulfstream Pipeline

With a pre-filing process already underway at FERC on CenterPoint’s Energy’s proposed 1 Bcf/d pipeline from Carthage, TX, to Perryville, LA, the company has teamed up with Duke Energy Gas Transmission to propose another new pipeline downstream of Perryville to the Gulfstream Natural Gas System, which is owned by Duke and Williams. Gulfstream serves the Florida peninsula and would provide premium market access to producers delivering gas to Perryville from fields in North and East Texas.

December 9, 2005

Relaxation of FERC Blanket Rules Sought for Pipe, Storage, LNG Facility Construction

A pipeline group and producer association teamed up Tuesday to ask FERC to make a series of permanent regulatory and policy changes to spur the construction of interstate natural gas pipeline expansions, new storage capacity and facilities related to liquefied natural gas (LNG) import projects.

November 23, 2005

Morgan Stanley Joins Cheniere in Global LNG Procurement Business

Cheniere Energy said Thursday that it has teamed up with Morgan Stanley Capital Group to procure liquefied natural gas (LNG) supplies that would be delivered to its four proposed Gulf Coast LNG import terminals.

October 21, 2005

Anadarko, Chevron Team Up on GOM Deepwater Prospects

Anadarko Petroleum Corp. has teamed up with Chevron Corp. to drill four deepwater Gulf of Mexico (GOM) prospects. Under the agreement announced Wednesday, Anadarko will pay a disproportionate share of the drilling costs to earn a 20-25% working interest in two appraisal wells and two exploration wells scheduled to be completed by midyear 2006. Anadarko will also gain rights in 29 deepwater Gulf of Mexico blocks.

August 18, 2005

NiSource, Piedmont File Plans to Develop 12 Bcf Storage Field in WV

NiSource and Piedmont Natural Gas have teamed up to develop a new 12 Bcf natural gas storage field in Hardy and Hampshire counties, WV. The Hardy Storage Company LLC filed a formal project application last week with the Federal Energy Regulatory Commission (FERC).

May 2, 2005