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Released September 28, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
U.S. Offshore Production Drops as Hurricane Ian Takes Aim - About 11% of oil production in the U.S. Gulf of Mexico was shut on Tuesday as Hurricane Ian forced oil companies to evacuate workers and the storm took aim at Florida. Some 190,000 barrels per day of oil production of the Gulf's total were shut-in, according to offshore regulator the Bureau of Safety and Environmental Enforcement (BSEE). Producers lost 184 million cubic feet of natural gas or nearly 9% of daily output. Personnel were evacuated from 14 production platforms and rigs, BSEE said. (Reuters)
LNG
Kinder Morgan Sells Half Its Stake in Georgia LNG Facility - Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) said it had sold half its stake in a liquefied natural gas (LNG) facility in Georgia to an undisclosed buyer for about $565 million, and would use the funds to pay short-term debt and buy back shares. The stake sale in the Elba Liquefaction Company (ELC) comes at a time when demand for U.S. LNG exports is booming as Europe loses access to Russian fuel. The ELC liquefaction facility has a capacity to liquefy about 2.5 million tonnes of LNG per year for export from the U.S. East Coast. After the sale, Kinder Morgan will hold a 25.5% interest in ELC and continue to operate the facility. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
POWER
Germany to Extends Lives of Two Nuclear Power Plants - Germany expects to extend the lifespan of two of its last nuclear power plants, Isar 2 and Neckarwestheim, beyond their planned phase-out as declines in France's nuclear power supply have worsened, Economy Minister Robert Habeck said on Tuesday. Germany had planned to complete a phase-out of nuclear power by the end of this year, but a collapse in energy supplies from Russia because of the war in Ukraine has prompted the government to keep two plants on standby until April. Subscribers to the Power Plant Database can click here for the profile of Neckarwestheim and here for Isar 2. (Reuters)
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About IIR Energy
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).
PRODUCTION
U.S. Offshore Production Drops as Hurricane Ian Takes Aim - About 11% of oil production in the U.S. Gulf of Mexico was shut on Tuesday as Hurricane Ian forced oil companies to evacuate workers and the storm took aim at Florida. Some 190,000 barrels per day of oil production of the Gulf's total were shut-in, according to offshore regulator the Bureau of Safety and Environmental Enforcement (BSEE). Producers lost 184 million cubic feet of natural gas or nearly 9% of daily output. Personnel were evacuated from 14 production platforms and rigs, BSEE said. (Reuters)
LNG
Kinder Morgan Sells Half Its Stake in Georgia LNG Facility - Kinder Morgan Incorporated (NYSE:KMI) (Houston, Texas) said it had sold half its stake in a liquefied natural gas (LNG) facility in Georgia to an undisclosed buyer for about $565 million, and would use the funds to pay short-term debt and buy back shares. The stake sale in the Elba Liquefaction Company (ELC) comes at a time when demand for U.S. LNG exports is booming as Europe loses access to Russian fuel. The ELC liquefaction facility has a capacity to liquefy about 2.5 million tonnes of LNG per year for export from the U.S. East Coast. After the sale, Kinder Morgan will hold a 25.5% interest in ELC and continue to operate the facility. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)
POWER
Germany to Extends Lives of Two Nuclear Power Plants - Germany expects to extend the lifespan of two of its last nuclear power plants, Isar 2 and Neckarwestheim, beyond their planned phase-out as declines in France's nuclear power supply have worsened, Economy Minister Robert Habeck said on Tuesday. Germany had planned to complete a phase-out of nuclear power by the end of this year, but a collapse in energy supplies from Russia because of the war in Ukraine has prompted the government to keep two plants on standby until April. Subscribers to the Power Plant Database can click here for the profile of Neckarwestheim and here for Isar 2. (Reuters)
About IIR Energy
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).
