Cheniere Energy, Trans Mountain Pipeline: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

LNG
Cheniere to Proceed with Corpus Christi Stage 3 Export Plant - U.S. liquefied natural gas (LNG) company Cheniere Energy Incorporated (Houston, Texas) decided on Wednesday to proceed with an expansion of its Corpus Christi export plant in Texas and told Bechtel Energy (Reston, Virginia) to continue with construction of the project. The Stage 3 expansion at Corpus was the second U.S. LNG export plant to reach a final investment decision (FID) this year as demand for natural gas soars. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed report. (Reuters)

CRUDE OIL
Oil Falls About 3% - Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. Brent crude oil futures fell $2.91, or 2.5%, to settle at $111.74 a barrel. U.S. West Texas Intermediate (WTI) fell $3.33, or 3%, to settle at $106.19 a barrel. (Reuters)

PIPELINES
Budget Officer: Canada's Trans Mountain Oil Pipeline No Longer Profitable - The Canadian government-owned Trans Mountain oil pipeline is no longer profitable after cost over-runs and delays to its expansion project, the country's parliamentary budget officer (PBO) said on Wednesday. A report from PBO Yves Giroux said the pipeline has a net present value of negative C$600 million (negative US$463.03 million), based on the difference between Trans Mountain's cash flows and its C$4.4 billion (US$3.4 billion) purchase price. Subscribers to Industrial Info's Pipelines Project Database can click here for related reports on the expansion project. (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 world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.