USA Gas Pipeline Players Growing
Last week, Rigzone’s downstream readers showed particular interest in articles about growth initiatives by a pair natural gas pipeline players – new construction in one case and an acquisition in another. Read on to find out which downstream-related articles garnered the most pageviews on Rigzone last week.
Having won a key approval from the Federal Energy Regulatory Commission (FERC), Enable Midstream Partners (NYSE: ENBL) revealed the contractor bidding process is underway for its Gulf Run natural gas pipeline project. The $540 million conduit in western Louisiana will carry gas from various regions to Gulf Coast demand centers – notably ExxonMobil (NYSE: XOM) and Qatar Petroleum’s Golden Pass LNG terminal in Sabine Pass, Texas. Enable expects the 135-mile (217-kilometer) pipeline to begin service in late 2022.
Kinder Morgan, Inc. (NYSE: KMI) recently reported that it will bolster its presence in the U.S. Northeast by way of acquiring a Consolidated Edison, Inc. (NYSE: ED)-Crestwood Energy Partners LP (NYSE: CEQP) joint venture. The pending $1.225 billion acquisition will add four natural gas storage facilities and three pipelines to Kinder Morgan’s already sizable operations, giving the company greater access to Northeast demand and Marcellus supply.
Rising global oil production coupled with rising global oil consumption will increase the average Brent crude oil spot price for 2021, according to the U.S. Energy Information (EIA). In its short-term energy outlook for June, EIA increased its Brent annual spot price projection by nearly 5% month-on-month. However, EIA expects the average Brent spot price for 2022 to be more than $5 a barrel lower than its latest 2021 forecast for the crude benchmark.
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