Pipeline Transportation – The News Desk

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

28Dec

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World

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

Energy infrastructure company Williams Cos.has inked a deal to buy a portfolio of Gulf Coast natural-gas storage assets from an affiliate of commodities-trading company Hartree Partners for $1.95 billion.Williams on Wednesday said the acquisition includes six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115 billion cubic feet, along with 230 miles of gas transmission pipeline and connections to Transco, the nation’s largest natural gas transmission pipeline.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

27Dec

By adminNo Comments

World

Williams Cos. to Buy Gulf Coast Natural Gas Storage Portfolio for $1.95 Billion

Energy infrastructure company Williams Cos.has inked a deal to buy a portfolio of Gulf Coast natural-gas storage assets from an affiliate of commodities-trading company Hartree Partners for $1.95 billion.Williams on Wednesday said the acquisition includes six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115 billion cubic feet, along with 230 miles of gas transmission pipeline and connections to Transco, the nation’s largest natural gas transmission pipeline.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Elliott Management Makes $1 Billion Investment in Phillips 66

29Nov

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World

Elliott Management Makes $1 Billion Investment in Phillips 66

Updated Nov. 29, 2023 10:52 am ETElliott Investment Management has made a roughly $1 billion investment in Phillips 66 and is pushing for the appointment of two directors as it seeks to bolster the energy company’s fortunes.In a letter to the Houston-based company’s board, the activist investor outlined what it said is a path to remedying the Houston-based company’s underperformance, improve execution and restore trust with investors. It said it sees about 75% upside to the current share price by unlocking value for shareholders.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Canada Takes $651 Million Write-down on Trans Mountain Pipeline Project

25Nov

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World

Canada Takes $651 Million Write-down on Trans Mountain Pipeline Project

OTTAWA—Canada-owned Trans Mountain, which operates a crude-oil pipeline in western Canada that is under expansion, said Friday that it would take a write-down on the asset because of higher interest rates.Trans Mountain said that it booked a net loss in the third quarter because of a goodwill impairment charge of C$888 million Canadian dollars, or the equivalent of $651 million. The Canadian government acquired the Trans Mountain pipeline system in 2018 for C$4.5 billion from Kinder Morgan, after the U.S. company threatened to abandon a proposed expansion, aimed at capitalizing on Asian demand for oil, because of political and regulatory uncertainty.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Kinder Morgan to Purchase NextEra Energy Partners’ Texas Pipeline For $1.8 Billion

6Nov

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Money

Kinder Morgan to Purchase NextEra Energy Partners’ Texas Pipeline For $1.8 Billion

Kinder Morgan will purchase NextEra Energy Partners’ Texas natural gas line portfolio for $1.815 billion.The transaction, which primarily includes seven pipelines, is expected to close in the first quarter of 2024.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

30Sep

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World

A New Nimbyism Blocks Carbon Pipelines

Projects for burying carbon emissions are under pressure in the Midwest, spelling challenges ahead for a massive infrastructure buildup.

Texas Pipeline Firm Adds to Shale Holdings in $7.1 Billion Deal

16Aug

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World

Texas Pipeline Firm Adds to Shale Holdings in $7.1 Billion Deal

Energy Transfer said the purchase of rival Crestwood Equity Partners would benefit its natural-gas and crude-oil businesses by adding storage and terminal assets.