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1 week ago | 
hartenergy.com | Sandy Segrist
Both the demand for natural gas—and increasing Permian Basin production— is a vindication for Enbridge’s strategy to expand in the region, according to the company’s CEO. On May 6, the company was part of a joint announcement for a pending ownership change of the Matterhorn Express Pipeline, the newest gas egress pathway out of the Permian.
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1 week ago | 
hartenergy.com | Sandy Segrist
The federal government has given another—and potentially final—green light to the largest proposed LNG facility in the U.S.On May 9, the U.S. Federal Energy Regulatory Commission issued its “Final Supplemental Environmental Impact Statement” on Venture Global’s Calcasieu Pass 2 (CP2), a project with a planned capacity of 20 million tonnes per year (mtpa), with a peak capacity of 24 mtpa.
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1 week ago | 
hartenergy.com | Sandy Segrist
Energy industry representatives have asked the Trump administration to rethink a new rule that requires some LNG exports to be sent via U.S.-made tankers. The rule would go into effect in 2028. There are currently no operational U.S.-made LNG tankers. The rule, consisting of two sections, was published by the office of the U.S. Trade Representative on April 17.
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1 week ago | 
hartenergy.com | Sandy Segrist
Investment firm I Squared and Enbridge (ENB) bought into the joint venture running the Matterhorn Express Pipeline, while MPLX (MPLK) increased its stake, the companies jointly announced on May 6. Overall, the companies agreed to acquire 85% of the stakes in the Matterhorn Express Pipeline from Ridgemont Equity Partners and Devon Energy (DVN). Prior to the deal, Reuters reported that Miami-based I Squared was seeking a majority stake in the line valued at about $5 billion.
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1 week ago | 
hartenergy.com | Sandy Segrist
A decade ago, engineers designed floating LNG (FLNG) barges for one purpose — monetizing stranded, offshore natural gas that could otherwise not be piped ashore. The industry, thanks to several convenience factors, has grown into a few more niches and is striving for a more meaningful role in the future of global LNG supply. “We’re moving beyond offshore gas,” said Kyle Haberberger, offshore development manager for Black & Veatch, one of the world’s largest infrastructure engineering firms.
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1 week ago | 
finance.yahoo.com | Sandy Segrist
Williams Cos. (WMB), which capitalized on booming power demand in the first quarter, signaled on May 6 that it intends to continue its strategy as the energy from its pilot Socrates project in Ohio has been fully contracted. Socrates is a two-site, gas-fired power generating project near Columbus, Ohio, near several WMB natural gas pipeline networks. The complex will produce electricity for behind-the-meter power for customers, most likely tech companies.
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1 week ago | 
hartenergy.com | Sandy Segrist
Alan Armstrong, who has served as Williams Cos. (WMB) president and CEO since 2011, will move into the role of executive chairman for the midstream company, effective July 1. Chad Zamarin, currently Williams’ executive vice president of corporate strategic development, has been appointed as the company’s next president and CEO and will also join the board. Additionally, Stephen Bergstrom, current chairman of the board, will transition to lead independent director.
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1 week ago | 
finance.yahoo.com | Sandy Segrist
Alan Armstrong, who has served as Williams Cos. (WMB) president and CEO since 2011, will move into the role of executive chairman for the midstream company, effective July 1. Chad Zamarin, currently Williams’ executive vice president of corporate strategic development, has been appointed as the company’s next president and CEO and will also join the board. Additionally, Stephen Bergstrom, current chairman of the board, will transition to lead independent director.
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1 week ago | 
hartenergy.com | Sandy Segrist
Sunoco (SUN) and Canada-based Parkland Corp. (PKI) announced an agreement May 5 in which Sunoco will acquire all outstanding shares of Parkland for about US$9.1 billion (CA$12.56). The deal, which includes assumed debt, positions Sunoco for expanded operations across a larger service area. As part of the acquisition, Sunoco will establish a publicly traded entity named SUNCorp LLC in Delaware.
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2 weeks ago | 
hartenergy.com | Sandy Segrist
Chevron (CVX) executives cut their buyback budget for the next three months in response to an oil market that continues to look shaky. During the oil giant’s first-quarter earnings call on May 2, executives said the move was well within the range of Chevron’s usual adjustments for market volatility. “We've been through these cycles before, we know what to do, we know how to manage it,” said Mike Wirth, Chevron CEO and chairman of the board.
