BP, Excelerate Energy: Your Daily Energy News

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

NATURAL GAS
U.S. Utilities Add Gas to Storage - The U.S. Energy Information Administration (EIA) said energy firms added 37 billion cubic feet (Bcf) of gas to storage during the week ending March 21. That compares with a decrease of 30 Bcf during the same week last year and a five-year average draw of 31 Bcf for this time of year. (Reuters)

PRODUCTION
BP Greenlights Trinidad and Tobago Gas Project - BP (NYSE:BP) (London, England) has given final approval to its Ginger natural gas development in Trinidad and Tobago, it said on Thursday, one of ten new projects listed by Chief Executive Officer Murray Auchincloss in a strategy revamp last month to underpin BP's renewed focus on oil and gas. Ginger, which will be tied back to one of BP's existing twelve platforms off Trinidad's East coast, is expected to start producing in 2027 with a peak production of 62,000 barrels of oil equivalent per day, the company said. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the related project report. (Reuters)

CORPORATE
Excelerate Energy to Buy New Fortress' Jamaica Assets - Liquefied natural gas (LNG) infrastructure provider Excelerate Energy (NYSE:EE) (The Woodlands, Texas) has agreed to buy the Jamaica business of rival New Fortress Energy (NASDAQ:NFE) (New York, New York) for $1.06 billion in cash, according to statements from the companies on Thursday. The deal is expected to close in the second quarter. The assets being sold include the Montego Bay onshore terminal, the Old Harbour floating terminal, and the Clarendon combined heat and power plant. New Fortress said previously the plant supplies 65% of Jamaica's electricity. (Reuters)

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).