ConocoPhillips' Rising Alaska Costs, Energy Transfer's Lake Charles LNG: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

PRODUCTION
ConocoPhillips Sees Cost of Alaska Oil Project Climb $1 Billion - ConocoPhillips (Houston, Texas) is expecting costs for its Willow project in Alaska's North Slope to leap by about $1 billion, the company said Thursday in its quarterly earnings report. The projected cost range for Willow is now $8.5 billion to $9 billion, up from the $7 billion to $7.5 billion that ConocoPhillips predicted when it reached a final investment decision on the project in late 2023. The company also tightened its schedule for initial production at Willow, saying first oil should arrive in "early" 2029 instead of later in the year. Willow is scheduled to produce 180,000 barrels per day of oil at peak rates. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project reports. (Upstream Online)

LNG
Energy Transfer: Lake Charles LNG Decision Won't Occur Until 80% of Project Sold - U.S. pipeline operator Energy Transfer (Dallas, Texas) will not give its Lake Charles liquefied natural gas (LNG) export facility in Louisiana a financial go-ahead until 80% of the project has been sold to equity partners, company executives said on Wednesday on a post-earnings call. Energy Transfer has been developing the 16.5 million-metric-ton-per-annum (MTPA) LNG export facility and has sold most of the expected production to long-term customers, but has faced rising project costs and wants to share the risk with equity partners. Subscribers can learn more by viewing the related project reports. (Reuters)

LNG Canada Begins Production at Second Unit - LNG Canada (Kitimat, British Columbia) has started LNG production at the second of its two processing units at its Kitimat, British Columbia, plant. Both trains at the Shell-led project, each with a capacity of 6.5 MTPA, are now operational, a spokesperson told Reuters. When fully operational, the facility is expected to process about 2 billion cubic feet of gas per day. Subscribers can learn more by viewing the plant profile. (Reuters)

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About Industrial Info Resources

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).