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.
Oil & Gas News
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.
Energy Transfer Partners has announced that its wholly owned subsidiaries, Energy Transfer Interstate Holdings (ETIH) and ET Rover Pipeline (HoldCo), have signed an agreement with funds managed by Blackstone Energy Partners and Blackstone Capital Partners whereby Blackstone will contribute approximately US$1.57 billion in cash in exchange for a 49.9% interest in HoldCo.
InterGen has recently announced plans to advance the sale of its business interests in Mexico. It is expected that a formal sales process will be launched shortly.
DONG Energy has agreed to divest the entire share capital of DONG E&P A/S to INEOS for an unconditional payment of US$1,050 million on a cash and debt free basis, a contingent payment of US$150 million related to the Fredericia stabilisation plant and a contingent payment of up to US$100 million subject to the development of the Rosebank field.
EIG Global Energy Partners (EIG) has announced the final close of Global Private Debt Fund (GPF IV), a continuation of the firm’s platform for energy and infrastructure credit and direct lending.
The private finance arm of World Bank, International Finance Corporation (IFC), has agreed to extend finance to build Bangladesh’s first LNG import terminal to Excelerate Energy Ltd.
The Nord Stream 2 project, being pursued by Gazprom, has taken another important step towards its implementation, responding to the need of the European Union for additional gas imports and thereby improving security of supplies to Europe.
Borealis Infrastructure, the infrastructure investment manager of OMERS, has announced that it has signed an agreement to acquire a 34.6% stake in GNL Quintero S.A., (GNLQ).
M2 Infrastructure LLC has announced that it has entered into a Memorandum of Understanding with TransCanada Corporation to pursue construction of 6.2 million barrels of new crude oil storage at TransCanada’s terminal in Cushing, Oklahoma.
International lenders have announced the US$535 million permanent financing for a 380-mile natural gas pipeline running between Samalayuca, Chihuahua and Sásabe, Sonora.
International Finance Corporation (IFC), UK Export Finance (UKEF) and a commercial bank group led by HSBC, ING, Société Générale and Standard Chartered Bank acted as lenders on the financing of Vitol’s participation in the Offshore Cape Three Points (OCTP) oil and gas field project involving the development of the Sankofa-Gye Nyame fields in Ghana.
Macedonia has launched a tender process to develop a secondary and tertiary gas pipeline through a public-private partnership (PPP).
The National Petroleum Institute (NPI) has announced that the government of Mozambique, which has vast offshore gas resources, has awarded gas development projects in the Rovuma gas basin to Norway's Yara International, Shell Mozambique and GL Energy Africa.
The Government of Peru has cancelled Odebrecht contract to develop the Southern Gas Pipeline (GSP) after the consortium failed to meet its financing deadline.
EIV Capital, an energy-focused private equity firm, has announced the final closing of its third fund, EIV Capital Fund III, LP and its affiliates, at its hard cap of US$450 million, surpassing its original US$350 million target.