The government of British Columbia has announced new conditions and tax rebates for liquefied natural gas (LNG) projects in the province, in a suspected bid to prompt the final investment decision of the LNG Canada project, which was delayed indefinitely in July 2016.
Oil & Gas News
The Government of Vietnam has appointed the EDF Group as leader of the international consortium in charge the Son My 1 project, located in the Quang Ngai province of Vietnam. The project involves the construction of a 2000 MW gas-fired power plant, which uses combined cycle gas turbine technology.
Brazil's Ministry of Mines and Energy has announced that 44 of the 97 projects awarded in its Avançar Energia programme has been completed, adding 1,028 MW of installed capacity to the National Generator Park (Parque Gerador Nacional).
Summit Power International has announced that its subsidiary Summit Corporation Limited has signed a Memorandum of Understanding (MoU) with Mitsubishi Corporation and its subsidiary Diamond Gas International to develop a LNG-to-Power project in Matarbari, Moheskhali, Bangladesh, which is expected to cost up to US$3 billion.
The Federal Energy Regulatory Commission (FERC) of the USA has not approved Alaska Gasline Development Corp.'s Environmental Impact Statement (EIS) application for its US$43 billion Alaska LNG Project. This involves the construction of an 800-mile, 42-inch wide pipeline that will transport 3.3 billion cubic feet of liquified natural gas (LNG) a day.
Macquarie Infrastructure and Real Assets has sold a 24.33% stake in French oil transportation and storage holding company Pisto SAS to Swiss Life Asset Managers. This sale ends Macquarie's almost 10-year interest in the company.
Mitsui and Co. has submitted non-binding and conditional proposal to Australian oil and gas producer AWE Ltd, for all of its shares, at AUD0.95 (US$0.75) each, which values the company at about AUD594 million (US$470.5 million). This is the third takeover bid that AWE has received in two months.
EnCap Flatrock Midstream has announced the final closing of EnCap Flatrock Midstream Fund IV, L.P. The substantially oversubscribed fund exceeded its US$3 billion target and reached its US$3.25 billion hard cap within six months.
Dominion Energy, Inc. and SCANA Corporation have announced an agreement for the companies to combine in a stock-for-stock merger. Including assumption of debt, the value of the transaction is approximately $14.6 billion.
A consortium of eight international banks has signed a financing agreement for the Delimara 4 power plant project in Malta. The consortium is comprised of Bank of Valletta, BNP Paribas Fortis, Credit Industriel et Commercial, DZ Bank AG, HSBC Bank Malta, KFW-IPEX Bank, Natixis Bank and Societe General. The package amounts to EUR450 million (US$540 million).
The Federal Executive Council (FEC) of Nigeria has approved the US$2.8 billion Ajaokuta–Kaduna–Kano (AKK) gas pipeline project. The 40-inch pipeline will span 614km.
BASF and LetterOne have signed a letter of intent to merge their respective oil and gas businesses in a joint venture, which would operate under the name Wintershall DEA.
At a conference in Casablanca last week decision-makers from across North & West Africa met to discuss opportunities for investment in gas infrastructure, project pipelines & strategies for implementation.
Through Gas Natural Distribución Latinoamérica, Gas Natural Fenosa has agreed the sale of a 59.1% stake in its Colombian gas distribution business Gas Natural SA ESP to the Canadian fund Brookfield Infrastructure.
SemGroup Corporation (SEMG) has reached an agreement to sell its 50 percent interest in Glass Mountain Pipeline, LLC to an affiliate of BlackRock Inc.’s Global Energy and Power Infrastructure Fund(GEPIF) in partnership with Navigator Energy Services for US$300 million.
Mexico Pacific Limited has received an investment from Aecom Capital’s infrastructure fund for the development costs of an estimated US$1 billion Liquified Natural Gas project in the Gulf of California.
Comisión Federal de Electricidad (CFE) has opened technical proposals for the proposed Topolobampo branch line, in the state of Sinaloa, northwestern Mexico. Three companies have submitted their bids for the pipeline project to supply natural gas to power plants.
Frontera Energy Corporation has signed an agreement to acquire the outstanding 36.36% ownership of Pacific Midstream Limited from the International Finance Corporation (IFC).
Pearl Energy Investments has announced that it held its first and final closing of Pearl Energy Investments II, L.P. at its hard cap with total commitments of US$600 million.