Daily News Energy Headlines for September 3, 2015

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

LNG
Excelerate Withdraws Application for Port Lavaca FLNG Project - Excelerate Liquefaction Solutions (The Woodlands, Texas) has requested that the U.S. Federal Energy Regulatory Commission (FERC) withdraw the company's application for a floating LNG production terminal at the Port of Lavaca in Texas. The company also will withdraw its application with the Department of Energy to export LNG to countries without a free trade agreement with the U.S.

NATURAL GAS
EIA: U.S. Gas Reserves up 94 Bcf - U.S. working gas in storage was 3,193 billion cubic feet (Bcf) as of Friday, August 28, according to U.S. Energy Information Administration estimates. This represents a net increase of 94 Bcf from the previous week. Stocks were 495 Bcf higher than last year at this time and 122 Bcf above the 5-year average of 3,071 Bcf.

PIPELINES
Holly Energy Acquires 50% Stake in Frontier Pipeline - Holly Energy Partners (NYSE:HEP) (Dallas, Texas) has announced that it has acquired a 50% stake in the Frontier crude oil pipeline, which runs from Wyoming to Utah. Plains All American Pipeline LP (NYSE:PAA) (Dallas), which owns the remaining 50%, will continue to operate the pipeline.

POWER
Bangladesh to Construct Coal-Fired Plants - A Bangladesh company says it will pay $4.6 billion to construct two 600-megawatt coal-fired power plants in the country. Japan's Sumitomo Corporation and Marubeni Corporation have bid to participate in construction, which is planned to start in March 2016.

REFINING
Delta's Pennsylvania Refinery Running at 110% Capacity - Sources tell Reuters that Delta Air Lines' refinery in Trainer, Pennsylvania, has been processing 204,000 barrels per day (BBL/d) of oil for the past month. The plant's nameplate capacity is 185,000 BBL/d.

FINANCIAL
Some Shale Producers Let Hedges Slide - An analysis by Reuters shows that some shale oil producers missed the opportunity to lock in oil at $60 per barrel through hedging before crude prices plummeted in August. Reuters says that Noble Energy (NYSE:NBL), Devon Energy (NYSE:DVN), EOG Resources (NYSE:EOG) and Newfield Resources are among the companies that let go of the largest amount of hedged oil in the second quarter.

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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.