Freeport LNG, Permian Basin Production: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CORPORATE
Japan's Jera to Buy $2.5 Billion Stake in Freeport LNG - Japan's Jera (Tokyo) said on Monday it will pay about $2.5 billion for a stake in Freeport LNG Development (Houston, Texas) in the U.S. to Global Infrastructure Partners (GIP) (New York, New York). Jera, the world's biggest buyer of liquefied natural gas (LNG), is acquiring the 25.7% stake in Freeport to secure long-term supplies of gas for power generation and to "respond flexibly to the LNG supply and demand situation in the Asian region," the company said in a statement. (Reuters)

PRODUCTION
Permian Basin Oil Production Set to Hit New Record - Crude oil production from the Permian Basin, the largest U.S. oil field, is set to surpass its pre-pandemic record in December. Oil output from the Permian, located in Texas and New Mexico, is forecast to reach a record 4.953 million barrels per day (BBL/d) in December. December's forecast production will surpass the previous record of 4.913 million BBL/d set in March 2020, according to a monthly forecast from the U.S. Energy Information Administration. (Reuters)

CCS
Freeport LNG, Talos Energy to Develop CCS Project on Texas Gulf Coast - Freeport LNG and Talos Energy Incorporated (NYSE:TALO) (Houston) announced that the companies have executed a letter of intent to develop a carbon capture and sequestration (CCS) project, the Freeport LNG CCS project, immediately adjacent to Freeport LNG's natural gas pretreatment facilities located near Freeport, Texas, on the Gulf Coast. The companies anticipate first injection could occur by yearend 2024. Subscribers to Industrial Info's Production Plant Database can click here for the project report. (PR Newswire)

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About Industrial Info
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