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Released July 13, 2015 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) over the past week.
PIPELINES
Crude-Oil Pipelines Recapture Lost Market Share in Williston Basin - Crude-oil pipelines have significantly increased their share of the crude-oil outbound transportation market in the Williston Basin, reversing several years where pipelines lost market share to railroads. The market share fight has become more intense in recent months, as both pipelines and railroads complete previously announced projects and plan new ones.
Russia's Plan to Bypass Ukraine for NatGas Delivery Hits Snag - Russia's plan to build a natural gas pipeline to supply the European while bypassing Ukraine hit an apparent snag after Russian gas exporter Gazprom (Moscow) called off a $2.7 billion contract with Italy's Saipem SpA (BIT:SPM) (San Donato Minalese, Italy) to construct a subsea pipeline to Turkey.
About $16 Billion of Proposed North American Pipeline Projects Have Been Canceled or Delayed this Year - Pipeline developers have canceled or delayed the start of construction for 104 capital projects across North America, collectively valued at about $16 billion. These projects were scheduled to begin construction in 2015. Some were canceled or delayed earlier this year, while others were canceled or postponed years ago. The U.S. accounts for the largest number of proposed pipeline capital projects canceled or placed on hold (72), valued at $8 billion, followed by Canada (19 projects with total investment value of $4.1 billion) and Mexico (13 projects valued at $3.8 billion).
Williams' Transco Files With FERC for Pipeline Expansion to Serve NYC - On Wednesday, July 8, Williams Companies (NYSE:WMB) (Tulsa, Oklahoma) announced that it had filed an application with the U.S. Federal Energy Regulatory Commission (FERC) for its New York Bay Expansion Project to deliver natural gas to New York City for the 2017-18 heating season.
Nigerian Oil Pipeline Explosion Kills Twelve - The explosion of an Eni SpA (BIT:ENI) (Rome, Italy) crude oil pipeline in Nigeria during repair work claimed the lives of 12 people and injured three.
POWER
Exelon Begins Two Natural Gas-Fired Expansions in Texas - Exelon Corporation (NYSE:EXC) (Chicago, Illinois) announced last week that it had begun construction on two 1,000-megawatt natural gas-fired expansions near Houston and Fort Worth.
Germany Abandons Levy on Coal-Fired Plants - Germany's coalition government has abandoned controversial plans to impose a levy on coal-fired power plants in order to meet its ambitious climate goals by 2020. The government has instead opted for an alternative plan that will see the closure of brown coal-fired plants with a combined capacity of 2.7 gigawatts (GW).
E.ON Shuts Killingholme Gas-Fired Plant in U.K. - Leading utility E.ON (XETRA:EOAN) (Düsseldorf, Germany) has announced the closure of its 900-megawatt (MW) Killingholme combined-cycle gas-turbine (CCGT) power station in the U.K. with the loss of about 50 jobs. The company blamed the decision on its failure to win a power contract from the National Grid's Supplemental Balancing Reserve (SBR) service.
OIL & GAS PRODUCTION
Baker Hughes: Five U.S. Oil Rigs Added Last Week - Baker Hughes Incorporated (NYSE:BHI) (Houston, Texas) reported that five rigs drilling for oil were added in the U.S. last week, the second consecutive weekly rise after 29 consecutive weeks of decline. Gas and miscellaneous rigs declined by four.
Netherlands Government Bans Shale Gas Drilling - The government of the Netherlands says it will ban shale gas drilling for five years and will not renew existing shale exploration contracts due to uncertainties about the environmental impact of the process.
LNG
Japan's LNG Spot Prices Remain Low in June - Japan's Ministry of Economy, Trade and Industry reports that the average spot price of liquefied natural gas (LNG) in Japan in June was $7.60 per million British thermal units, approaching half of what it was in June 2014. The low prices in Asia could lead to issues for Chevron Corporation's (NYSE:CVX) (San Ramon, California) Gorgon LNG project in Western Australia. The project is set to begin making test exports of LNG; however, current holders of long-term supply contracts from the project are finding that spot LNG prices are lower than contract prices, providing no impetus to purchase these early LNG cargoes.
OTHER NEWS
IEA: Oil Prices May Decline Further - In its monthly report, Paris-based International Energy Agency says that it expects global oil demand growth to slow to 1.2 million barrels per day (BBL/d) in 2016 from 1.4 million BBL/d this year, suggesting that demand will have little impact in curbing the world's glut of crude oil.
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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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
PIPELINES
Crude-Oil Pipelines Recapture Lost Market Share in Williston Basin - Crude-oil pipelines have significantly increased their share of the crude-oil outbound transportation market in the Williston Basin, reversing several years where pipelines lost market share to railroads. The market share fight has become more intense in recent months, as both pipelines and railroads complete previously announced projects and plan new ones.
Russia's Plan to Bypass Ukraine for NatGas Delivery Hits Snag - Russia's plan to build a natural gas pipeline to supply the European while bypassing Ukraine hit an apparent snag after Russian gas exporter Gazprom (Moscow) called off a $2.7 billion contract with Italy's Saipem SpA (BIT:SPM) (San Donato Minalese, Italy) to construct a subsea pipeline to Turkey.
About $16 Billion of Proposed North American Pipeline Projects Have Been Canceled or Delayed this Year - Pipeline developers have canceled or delayed the start of construction for 104 capital projects across North America, collectively valued at about $16 billion. These projects were scheduled to begin construction in 2015. Some were canceled or delayed earlier this year, while others were canceled or postponed years ago. The U.S. accounts for the largest number of proposed pipeline capital projects canceled or placed on hold (72), valued at $8 billion, followed by Canada (19 projects with total investment value of $4.1 billion) and Mexico (13 projects valued at $3.8 billion).
Williams' Transco Files With FERC for Pipeline Expansion to Serve NYC - On Wednesday, July 8, Williams Companies (NYSE:WMB) (Tulsa, Oklahoma) announced that it had filed an application with the U.S. Federal Energy Regulatory Commission (FERC) for its New York Bay Expansion Project to deliver natural gas to New York City for the 2017-18 heating season.
Nigerian Oil Pipeline Explosion Kills Twelve - The explosion of an Eni SpA (BIT:ENI) (Rome, Italy) crude oil pipeline in Nigeria during repair work claimed the lives of 12 people and injured three.
POWER
Exelon Begins Two Natural Gas-Fired Expansions in Texas - Exelon Corporation (NYSE:EXC) (Chicago, Illinois) announced last week that it had begun construction on two 1,000-megawatt natural gas-fired expansions near Houston and Fort Worth.
Germany Abandons Levy on Coal-Fired Plants - Germany's coalition government has abandoned controversial plans to impose a levy on coal-fired power plants in order to meet its ambitious climate goals by 2020. The government has instead opted for an alternative plan that will see the closure of brown coal-fired plants with a combined capacity of 2.7 gigawatts (GW).
E.ON Shuts Killingholme Gas-Fired Plant in U.K. - Leading utility E.ON (XETRA:EOAN) (Düsseldorf, Germany) has announced the closure of its 900-megawatt (MW) Killingholme combined-cycle gas-turbine (CCGT) power station in the U.K. with the loss of about 50 jobs. The company blamed the decision on its failure to win a power contract from the National Grid's Supplemental Balancing Reserve (SBR) service.
OIL & GAS PRODUCTION
Baker Hughes: Five U.S. Oil Rigs Added Last Week - Baker Hughes Incorporated (NYSE:BHI) (Houston, Texas) reported that five rigs drilling for oil were added in the U.S. last week, the second consecutive weekly rise after 29 consecutive weeks of decline. Gas and miscellaneous rigs declined by four.
Netherlands Government Bans Shale Gas Drilling - The government of the Netherlands says it will ban shale gas drilling for five years and will not renew existing shale exploration contracts due to uncertainties about the environmental impact of the process.
LNG
Japan's LNG Spot Prices Remain Low in June - Japan's Ministry of Economy, Trade and Industry reports that the average spot price of liquefied natural gas (LNG) in Japan in June was $7.60 per million British thermal units, approaching half of what it was in June 2014. The low prices in Asia could lead to issues for Chevron Corporation's (NYSE:CVX) (San Ramon, California) Gorgon LNG project in Western Australia. The project is set to begin making test exports of LNG; however, current holders of long-term supply contracts from the project are finding that spot LNG prices are lower than contract prices, providing no impetus to purchase these early LNG cargoes.
OTHER NEWS
IEA: Oil Prices May Decline Further - In its monthly report, Paris-based International Energy Agency says that it expects global oil demand growth to slow to 1.2 million barrels per day (BBL/d) in 2016 from 1.4 million BBL/d this year, suggesting that demand will have little impact in curbing the world's glut of crude oil.
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 trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
