Venture Global CP2 Export Approval, Kinder Morgan's Rising Profit: Your Daily Energy News

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

LNG
Venture Global Gains Approval for LNG Exports from CP2 Plant - U.S. Secretary of Energy Chris Wright gave Venture Global LNG (Arlington, Virginia) final approval on Tuesday to export liquefied natural gas (LNG) from its CP2 plant, under construction in Louisiana, to countries that do not have a free trade agreement with the U.S. The approval will allow Venture Global to export 28 million metric tons per annum of U.S. natural gas to so called non-Free Trade Agreement countries. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can learn more by viewing the project report. (Reuters)

EU Approves New Russian Sanctions Package Including LNG Ban - EU countries approved a 19th package of sanctions against Russia for its war against Ukraine, which includes a ban on Russian LNG imports, the presidency of the EU announced on Wednesday. The LNG ban will take effect in two stages: Short-term contracts will end after six months and long-term contracts from January 1, 2027. The full ban comes a year earlier than the Commission's roadmap to end the bloc's reliance on Russian fossil fuels. (Reuters)

EARNINGS REPORTS
Kinder Morgan Posts Rise in 3Q Net Income on Strong NatGas Volumes - Pipeline operator Kinder Morgan Incorporated (Houston, Texas) posted a rise in third-quarter profit on Wednesday, helped by higher volumes of natural gas transported through its pipelines. The company, which moves roughly 40% of the country's total natural gas output, said it transported about 47,461 billion British thermal units (Btu) of natural gas per day in the quarter, compared with 44,827 billion Btu per day last year. Kinder Morgan said its net income came in at $628 million for the three months ended September 30, compared with $625 million a year earlier. (Reuters)

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Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
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).