Cheniere Energy, Mountain Valley Pipeline: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

PIPELINES
Biden Administration Grants Permit to Mountain Valley Pipeline - The Biden administration has approved a permit to allow the Mountain Valley natural gas pipeline to run through the Jefferson National Forest straddling Virginia and West Virginia, Senator Joe Manchin (WV-D) said on Tuesday. The Biden administration has supported Manchin's bill as it would help renewable energy companies reap the benefit of billions of dollars of tax credits contained in last year's Inflation Reduction Act. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for reports on the pipeline. (Reuters)

TERMINALS
U.S. to Buy 3 Million Barrels of Oil for Strategic Reserve - The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve (SPR) for delivery in August, and asked that offers be submitted by May 31. U.S. Energy Secretary Jennifer Granholm had signaled to lawmakers late last week that her department could start repurchasing oil for the stockpile soon, after a record sale last year during a spike in prices that pushed the level of the reserve to the lowest since 1983. The new purchase would be for sour crude oil delivered to the Big Hill SPR site in Texas sometime during the month of August, according to the announcement. Subscribers to Industrial Info's Terminals Plant Database can click here for the plant profile. (Reuters)

LNG
Cheniere Strikes LNG Supply Deal with Korea Southern Power - Cheniere Energy Incorporated (Houston, Texas) said on Tuesday it has entered a long-term deal to supply liquefied natural gas (LNG) to Korea Southern Power Company (Seoul, South Korea). Korea Southern Power will buy about 0.4 million tonnes of LNG per year from Cheniere from 2027 through 2046, with a smaller annual quantity to be delivered starting in 2024. (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).