P&GJ reports that the U.S. Federal Energy Regulatory Commission (FERC) has approved an environmental statement for the revised construction for Enbridge’s PennEast Pipeline.
Going by the plan, the 118-mile natural gas pipeline project has the capacity to move up to 1.1 Bcf/d of gas from the Marcellus Shale play to markets in Pennsylvania, New Jersey and New York.
Recall that the project initially faced regulatory challenges in New Jersey leading to the blocking by the state appeals court of the company’s attempt to condemn the land through the use the pipeline project.
PennEast has since appealed that decision to the U.S. Supreme Court but the has court put off hearing the decision and sought the view of the U.S. solicitor general.
Phase 1 consists of 68 miles of 36-inch pipe constructed entirely within Pennsylvania and should be operational by November 2021.
Phase 2 would include the rest of the route through Pennsylvania and into New Jersey with an expected completion of 2023.
The FERC issued its favorable review of the proposed changes on Aug. 3." P&GJ reports
Reuters reports that an EU delegation is not comfortable with a recent U.S. State Department sanctions regarding the construction of the Nord Stream 2 gas pipeline under the Baltic Sea are a breach of international law, a report said on Friday.
Following the stances of the US., a European Commission spokeswoman confirmed some informal outreach, or demarche in diplomatic language, which the EU member states were invited to join on a voluntary basis.
Its not clear what becomes of the project in the coming weeks as the US. considers Russia's dominance of the Gas space a major threat to its national security.
Natural gas markets have rallied rather significantly during the trading session on Thursday, breaking above the psychologically important $2.50 level.
If you recall yesterday, I had suggested that we need to see some type of pullback in order to buy the market but regardless I was not going to be a seller.
Years of experience has taught me that you do not sell in an uptrend, regardless of whether or not you will “know the market is going to pull back.”
This is a perfect example of that because anybody who has shorted the natural gas markets because it had “gotten ahead of itself”, have gotten their faces ripped off during the session.
Enegy Egypt reports that "Gulf Energy recently paid off USD 1.4 million in arrears SDX Energy owed to China’s North Petroleum for production at the North West Gemsa concession, which SDX and North Petroleum were operating together, Al Mal reports, citing an unnamed industry source."
It was gathered that "SDX sold its 50% working interest in the concession to Gulf Energy last month for USD 1.6 million. The company’s stake was priced at USD 3 million, but the sale was priced at USD 1.6 million to account for the arrears Gulf Energy would have to pay down", Energy Egypt reports.
"Kom Ombo Petroleum — a JV between the Egyptian General Petroleum Company and Mediterra Energy — will begin drilling two wells at its Baraka concession, which is expected to cost USD 2.5-3 mn, Al Mal reports, citing unnamed industry sources. The Baraka concession has produced some 350 to 400 bbl / d of oil this year, the sources say." (Source: Energy Egypt)
After years of delay, Reuters reports that a delayed sub-sea pipeline which a privately owned Chinese gas distributor ENN Group and a provincial gas grid is ready for use. The completion paves the way for more imports into China's first major independent LNG terminal.
Recall that the $848 million import facility located on Zhoushan Island in eastern China's Zhejiang province started operations in 2018 however, the actual operational take-off of the facility was hindered due to the delay in the pipeline's launch. A source desiring not to be mentioned says gas has started to flow through the newly completed pipeline.
State-owned Zhejiang Energy Group said last week that the 81-kilometer (50-mile) pipeline will start from ENN's three million tonnes per annum (mtpa) Zhoushan terminal and will pass through islands, terminating at Zhenhai in Ningbo.
