GDF Suez has penned a deal worth $4 billion with China Investment Corporation (CIC) to earn an interest in GDF’s exploration and production arm. CIC is getting a 30% slice of GDF’s exploration and production arm for a capital injection of EUR 2.3 billion ($3.22 billion). In addition, CIC is getting a 10 percent holding of [...]
Alaska’s Governor is positioning his state to become an exporter of liquefied natural gas to growing markets in Asia. Sean Parnell suggested that Alaska’s producers should ship natural gas overseas rather than to the U.S., saying the that Japan and other Asian countries may be a “better market for Alaska gas.” “If market demand for [...]
Cheniere Energy and BG Group have signed a 20-year agreement to supply liquefied natural gas from US shale gas. Under the deal, Cheniere will export 3.5 million tonnes a year of liquefied natural gas from its Sabine Pass terminal to BG for a period of 20 years. The pricing, at a cost of 115% the [...]
Mexico announced late on Monday the discovery of major shale gas fields near the border with the United States. “These huge deposits may completely change the energy situation in Mexico in the next few decades,” said Mexican Energy Minister Jordy Herrera. The minister did not specify the potential reserves of the new gas deposits but [...]
The U.S. Environmental Protection Agency plans to develop standards for the discharge of wastewater produced by shale gas drilling, including hydraulic fracturing flowback. The standards will be effluent guidelines: national standards, based on the performance of treatment and control technologies, for wastewater discharges to surface waters and municipal sewage treatment plants. The measures are being [...]
A group led by Royal Dutch Shell Plc has agreed to purchase a marine terminal in Kitimat, British Columbia, from Cenovus Energy Inc., for use as a possible site for a liquefied natural gas export terminal. The Kitimat Marine Terminal, located on the Pacific Coast could be primed for the delivery of LNG to Asian [...]
Colombia has decided to open up the country’s natural gas exports following an increase in production and adequate reserves availability to meet the domestic demand. Exports, limited to Venezuela only, have now been extended to Panama and other Caribbean countries, according to Colombia’s energy minister Mauricio Cardenas at a news conference on Wednesday. Aimed at [...]
Last December, Argentina’s major oil and gas company YPF discovered some 4.5 trillion cubic feet of unconventional gas in the southwest province of Neuquén. The find has the potential to totally transform the country’s (and the region’s) energy future. It pushes Argentina’s energy reserves to 774 trillion cubic feet — making it the third largest [...]
Aiming to take advantage of the attractive valuations of oil and natural gas companies, Reliance Industries Ltd reportedly plans to use its record cash reserves to target opportunities in Canada. “Reliance has a strong balance sheet and sustained earning base to pursue (overseas) growth opportunities,” Chairman Mukesh Ambani said on the weekend, after the refiner and [...]
In a move directed at increasing its unconventional footprint, Norway’s Statoil is acquiring Texas-based oil company Brigham Exploration for $4.4bn. The deal will provide Statoil with unconventional or ‘tight’ oil production via Brigham’s 375,000 acre holding in the Bakken shale region in North Dakota. “Entering the Bakken and Three Forks tight-oil plays and taking on [...]
