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25 January 2024
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--Tecnicas Reunidas Press Release--
A joint venture between Técnicas Reunidas S.A. (TR) and Sinopec Engineering Group (SEG) has been selected as the EPC contractor and was awarded a lumpsum contract for the Riyas NGL Fractionation Facility in Saudi Arabia.
The joint venture is 65% owned by Técnicas Reunidas and 35% by Sinopec Engineering Group, which means that the Spanish company will account for more than 2.15 billion USD of the total investment.
This is the first project awarded to Técnicas Reunidas by Saudi Aramco following the Strategic Alliance recently signed by the Spanish company with Sinopec Engineering Group for the development of common projects.
Saudi Aramco
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Oil Majors Win $4.2 Billion Environmental Dispute In Kazakh Court(Bloomberg) – Partners in Kazakhstan’s second-largest oil field won a case in a local court over environmental fine that could have exceeded $4 billion, the venture said.
Kazakhstan previously sought to fine the Kashagan oil field venture partners for about 2.3 trillion tenge, or $5.1 billion at the time but $4.2 billion at current exchange rates.
“We welcome the Appellate Court’s decision which confirms the correctness of NCOC’s sulphur management operations, which are carried out responsibly and in compliance with the laws of the Republic of Kazakhstan, and in line with applicable standards, and best practices,” operator NCOC and partners in the venture said in a statement.
The $55 billion Kashagan development in the Caspian Sea has been dogged by delays and cost overruns. Kazakh authorities have being pushing for higher revenue from the nation’s fields and sued the joint venture partners in international arbitration for more than $160 billion in damages. Most of that amount reflects lost revenue, but it also includes damages related to alleged environmental violations, and deals that Kazakhstan argued were tainted by corruption.
Last year, venture partners including Eni SpA, Shell Plc, Exxon Mobil Corp. and TotalEnergies SE proposed settling the sulfur case by making an additional investment in social projects of $110 million over the next two years, an expense that would be recoverable from Kashagan’s revenue under the production sharing contract.
The venture also proposed making additional payments related to the supply of liquefied petroleum gas to the government and to found a multimillion dollar social development fund, the people said.
The Kazakh energy ministry and the country’s environment-protection ministry didn’t immediately respond to requests for comment.
World Oil
oil-gas
01 August 20252 min readOil Majors Win $4.2 Billion Environmental Dispute In Kazakh Court
World Oil
01 August 2025
oil-gas
Mplx To Buy Northwind Midstream For $2.38 Billion, Boosting Permian Sour Gas Capacity(Reuters) — MPLX LP said on July 31 it will acquire Northwind Midstream for $2.38 billion in cash to expand its sour gas gathering and processing footprint in the Permian Basin, as producers ramp up drilling in New Mexico.
Northwind, backed by Five Point Infrastructure, operates in Lea County, New Mexico, with a network spanning more than 200 miles of pipeline and covering over 200,000 dedicated acres.
The company currently treats 150 million cubic feet per day (MMcfpd) of sour gas and has two acid gas injection (AGI) wells in service, with a third permitted.
AGI safely disposes of hydrogen sulfide and carbon dioxide, common sour gas byproducts, by injecting them deep underground to prevent harmful emissions.
An ongoing expansion is expected to increase Northwind's treating capacity to 440 MMcfpd by the second half of 2026.
Demand for sour gas treatment in the Delaware Basin has exceeded available infrastructure, as limited AGI permitting and capacity have slowed the pace of some producer activity.
MPLX said the deal would allow it to offer faster solutions to both existing and new customers in the region.
"The addition of 200,000 dedicated acres will increase MPLX's access to natural gas and NGL volumes," MPLX CEO Maryann Mannen said in a statement.
Dealmaking in the midstream sector has been picking up pace as some companies look to cut costs or add scale and gain access to attractive oil- and gas-producing regions as well as export facilities on the U.S. Gulf Coast.
The deal, financed with debt and expected to close in the third quarter, is expected to be immediately accretive to MPLX's distributable cash flow.
Pipeline Gas Journal
oil-gas
31 July 20252 min readMplx To Buy Northwind Midstream For $2.38 Billion, Boosting Permian Sour Gas Capacity
Pipeline Gas Journal
31 July 2025
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Spire To Acquire Duke Energy’S Piedmont Natural Gas Pipeline Network In $2.48 Billion DealSpire Inc. has reached an agreement with Piedmont Natural Gas, a wholly-owned subsidiary of Duke Energy, to acquire its Tennessee local natural gas pipeline network for $2.48 billion.
According to Spire’s announcement on Tuesday, July 29, the transaction, expected to close in the first quarter of calendar year 2026, is subject to approval by the Tennessee Public Utility Commission, Hart-Scott-Rodino review, and other customary closing conditions.
Upon completion, the acquisition of the natural gas distribution pipelines will transfer service for more than 200,000 natural gas customers in the Nashville area to the new Spire business unit, Spire Tennessee.
"This acquisition is a natural fit for Spire, allowing us to expand our core utility business and increase our utility customer base to nearly two million homes and businesses," said Scott Doyle, president and CEO of Spire.
He added that Spire looks forward to building on Piedmont Natural Gas's foundation of customer service and community engagement in Tennessee.
Piedmont Natural Gas operates as the largest investor-owned natural gas utility in Tennessee, serving the rapidly growing Nashville metro area with nearly 3,800 miles of pipelines.
Harry Sideris, Duke Energy president and CEO, stated the transaction allows Duke Energy to efficiently fund accelerating investment opportunities driven by customer growth and economic development.
"We're confident Spire will support the continued growth and success of the Tennessee natural gas business and serve as an incredible operator for the benefit of employees, customers, and communities," he added.
The acquisition will expand Spire's utility footprint, which currently includes operations in Missouri, Alabama, and Mississippi.
Pipeline Technology Journal
oil-gas
30 July 20252 min readSpire To Acquire Duke Energy’S Piedmont Natural Gas Pipeline Network In $2.48 Billion Deal
Pipeline Technology Journal
30 July 2025
oil-gas
Blm Receives Application For 122-Mile Ridgeline Gas Pipeline In Tennessee(P&GJ) — The U.S. Bureau of Land Management (BLM) has received a right-of-way application for the proposed 122-mile Ridgeline Expansion Pipeline, which would transport natural gas across central and eastern Tennessee.
East Tennessee Natural Gas LLC submitted the application (SF-299) on March 20, 2025, seeking permission to construct the line under a federal right-of-way authorization. The project would supply the Tennessee Valley Authority’s Kingston Fossil Plant as it transitions from coal to liquefied natural gas.
The pipeline would cross eight counties and traverse lands administered by the TVA and the U.S. Army Corps of Engineers. Under the Mineral Leasing Act, the BLM is responsible for granting a right-of-way and temporary use permit for pipelines crossing federal lands managed by multiple agencies.
Project documents and application details are available in the Federal Register.
Pipeline Gas Journal
oil-gas
30 July 20251 min readBlm Receives Application For 122-Mile Ridgeline Gas Pipeline In Tennessee
Pipeline Gas Journal
30 July 2025
oil-gas
Boskalis–Allseas Win $1.3 Billion Contract For Taiwan Offshore Gas Pipeline(P&GJ) — A Boskalis–Allseas consortium has secured a $1.3 billion contract from CPC Corporation Taiwan to construct the second offshore natural gas pipeline connecting Yongan to Tongxiao (YT2). The project is aimed at bolstering natural gas supply to northern Taiwan and supporting the nation’s energy transition.
The 36-inch pipeline will span approximately 232 kilometers (144 miles), running parallel to the existing YT1 pipeline between the Yongan LNG terminal in the southwest and the Tongxiao transfer station in the northwest. The scope includes trenching, installation across 34 infrastructure crossings, backfilling, and two landfalls.
Boskalis will handle landfalls, microtunneling, trenching, backfilling, and rock installation for the crossings, deploying large hopper dredgers, a backhoe dredger, and a subsea rock installation vessel. Allseas will manage pipelaying and pre-commissioning, including concrete mattress installation, using two advanced pipelay vessels.
“This landmark energy project is intended to support the acceleration of energy transition in Taiwan and improve the gas supply capacity in northern Taiwan,” the companies said in a joint statement.
Construction is expected to begin in 2026 and finish in 2028.
Pipeline Gas Journal
oil-gas
30 July 20251 min readBoskalis–Allseas Win $1.3 Billion Contract For Taiwan Offshore Gas Pipeline
Pipeline Gas Journal
30 July 2025
oil-gas
Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job In TaiwanThe 50-50 consortium between Allseas and Boskalis has been awarded a large contract by CPC Corporation Taiwan for the second offshore gas pipeline from Yongan to Tongxiao (YT2) in Taiwan.
Under the contract, the consortium will design, construct, install and pre-commission the new YT2 36-inch offshore natural gas pipeline, which will run approximately 232 kilometers parallel to the existing YT1 pipeline, connecting the Yongan LNG terminal in the Southwest with the Tongxiao transfer station in the Northwest.
The comprehensive scope of work includes trenching, pipeline installation with 34 crossings over existing and future infrastructure and assets, backfilling and two landfalls.
Within the consortium, Allseas will carry out the pipeline installation and pre-commissioning, including the pre-lay installation of concrete mattresses. For these activities, Allseas will deploy two of the most advanced pipelay vessels in the industry.
Boskalis will be responsible for the landfalls and associated microtunnelling activities, as well as nearshore and offshore trenching, backfilling, and the installation of rocks for the 34 pipeline crossings. For these activities, Boskalis will deploy two large hopper dredgers, a large backhoe dredger, and a subsea rock installation vessel.
The total contract value for the landmark energy project, developed to accelerate energy transition and improve gas supply capacity in Taiwan, is approximately $1.4 billion (€ 1.2 billion).
Project execution is scheduled to begin in 2026, with completion anticipated in 2028.
Offshore Engineer
oil-gas
29 July 20252 min readAllseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job In Taiwan
Offshore Engineer
29 July 2025
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Duke Energy To Sell Tennessee Gas Business, 3,800 Miles Of Pipelines, For $2.48 Billion(P&GJ) — Duke Energy has agreed to sell its Tennessee natural gas distribution business, Piedmont Natural Gas, to Spire Inc. for $2.48 billion in cash. The deal includes nearly 3,800 miles of distribution and transmission pipelines and a liquefied natural gas facility serving about 205,000 customers in the Greater Nashville area.
The transaction is expected to close in the first quarter of 2026, pending regulatory approval from the Tennessee Public Utility Commission and other customary conditions.
Duke Energy said about $800 million of the proceeds will be used to pay down debt at Piedmont Natural Gas, with the remaining $1.5 billion going toward its $83 billion, five-year capital plan focused on grid modernization and energy transition initiatives.
“The transaction allows us to efficiently fund accelerating investment opportunities driven by record customer growth and a deepening economic development pipeline,” said Harry Sideris, Duke Energy president and chief executive officer. “We’re confident Spire will support the continued growth and success of the Tennessee natural gas business and serve as an incredible operator for the benefit of employees, customers and communities.”
Spire said the acquisition will expand its customer base to nearly two million homes and businesses across its service territories, which currently include Missouri, Alabama and Mississippi.
“This acquisition is a natural fit for Spire, allowing us to expand our core utility business and increase our utility customer base to nearly two million homes and businesses,” said Scott Doyle, president and chief executive officer of Spire. “We look forward to serving customers in the Nashville area and safely delivering the energy they need.”
Pipeline Gas Journal
oil-gas
29 July 20252 min readDuke Energy To Sell Tennessee Gas Business, 3,800 Miles Of Pipelines, For $2.48 Billion
Pipeline Gas Journal
29 July 2025
oil-gas
Utility Duke Energy To Sell Tennessee (U.S.) Natural Gas Business For $2.48 BDuke Energy said it would sell its Tennessee natural gas distribution business to Spire for $2.48 B in cash, as the utility aims to streamline operations and unlock capital to invest in electric grid upgrades.
About $800 million of the proceeds will be used to pay down debt at Piedmont Natural Gas, while the remaining $1.5 billion will support Duke's $83 billion five-year capital plan focused on grid modernization and energy transition, the company said in a statement.
The sale agreement includes nearly 3,800 miles of distribution and transmission pipelines and a liquefied natural gas facility serving about 205,000 customers.
Piedmont's primary operations will remain in the Greater Nashville area after the transaction closes, expected in the first quarter of 2026.
The integration of the Tennessee business is expected to expand Spire's utility footprint. The natural gas company has operations in Missouri, Alabama and Mississippi.
Gas Processing and LNG
oil-gas
29 July 20251 min readUtility Duke Energy To Sell Tennessee (U.S.) Natural Gas Business For $2.48 B
Gas Processing and LNG
29 July 2025
oil-gas
Pttep Acquires Offshore Gas Block In $450 Million Deal With Chevron SubsidiariesPTTEP, Thailand's national E&P company, has signed an agreement to buy 100% of the outstanding shares of Hess International Oil Corporation, which holds a 50% participating interest in the offshore natural gas Block A-18 of the Malaysia–Thailand Joint Development Area (MTJDA). The purchase deal is valued at $450 million (USD). Both sellers, Hess (Bahamas) Limited and Hess Asia Holdings Inc., are wholly owned subsidiaries of Chevron following Chevron's takeover of Hess Corp.
This transaction immediately enhances PTTEP’s gas production volume, petroleum reserves, and increases the company’s investment in the MTJDA from the existing 50% participating interest in Block B-17-01, PTTEP said in a news release.
Block A-18 currently produces 600 million standard cubic feet of natural gas per day (MMscfg/d) which is equally distributed to Thailand and Malaysia. The 300 MMscfg/d supplied to Thailand accounts for 6% of the country’s domestic gas demand.
“PTTEP is pleased to further expand our operations in the MTJDA, which is recognized for its petroleum potential and strategic significance to Thailand’s energy security," said Mr. Montri Rawanchaikul, CEO of PTT Exploration and Production Public Company Limited (PTTEP). "The acquisition also contributes to the company’s growth. Apart from the existing producing fields, Block A-18 includes several discovered gas fields awaiting development to unlock their full potential. Participation in Block A-18 also fosters operational synergy with Block B-17-01, enhancing efficiency to ensure continuous and accelerated energy supply for both countries.”
Additional production wells and wellhead platforms, along with gas construction of gas pipelines, will be developed to support a consistent and reliable gas supply.
MTJDA is located in the southern part of the Gulf of Thailand. Covering an area of approximately 7,250 square km, it is a key source of natural gas and condensate for Thailand and Malaysia.
World Oil
oil-gas
25 July 20252 min readPttep Acquires Offshore Gas Block In $450 Million Deal With Chevron Subsidiaries
World Oil
25 July 2025
oil-gas
Iraq’S Oil Exports Exceed 98 Million Barrels In June 2025The Ministry of Oil announced the total oil exports and revenues achieved for last June, according to the final statistics issued by the State Oil Marketing Organization (SOMO). The quantity of crude oil exports amounted to (98) million, (882) thousand, and (613) barrels (ninety-eight million, eight hundred eighty-two thousand, six hundred and thirteen barrels), with revenues amounting to more than (6) billion, (698) million, and (21) thousand dollars (six billion, six hundred ninety-eight million, and twenty-one thousand dollars). The statistics indicated that the total quantities of crude oil exported for last June from the oil fields in central and southern Iraq amounted to (97) million, (718) thousand, and (994) barrels, while exports from the Qayyarah field amounted to (946) thousand, (741) barrels, while the quantity of exports to Jordan amounted to (216) thousand, and (878) barrels. It is worth noting that the Ministry, driven by its belief in keeping the public informed of export operations, has taken this monthly measure.
Gulf Oil and Gas
oil-gas
25 July 20251 min readIraq’S Oil Exports Exceed 98 Million Barrels In June 2025
Gulf Oil and Gas
25 July 2025
oil-gas
Uni-Fuels Completes First Oversubscribed Usd 3M Commercial Paper Issuance On AddxUni-Fuels Holdings Limited (NASDAQ: UFG), (“Uni-Fuels” or the “Company”), a global provider of marine fuel solutions headquartered in Singapore, announced that its wholly-owned subsidiary, Uni-Fuels Pte Ltd (“Uni-Fuels Singapore”), has successfully completed the Company’s first-ever commercial paper (“CP”) issuance, raising USD 3 million through ADDX, a private market platform regulated by the Monetary Authority of Singapore. The offering was oversubscribed, reflecting strong demand from accredited investors.
The commercial paper was structured as USD-denominated, short-term unsecured debt and issued via ADDX’s digital investment platform. The transaction enables Uni-Fuels to diversify its funding sources and enhance capital efficiency across its operational entities. Proceeds will be used for general working capital and to support Uni-Fuels Singapore’s expanding operations across global trading hubs.
“This oversubscribed debut issuance is a strong signal of investor confidence in our business strategy and growth outlook,” said Koh Kuan Hua, Chief Executive Officer of Uni-Fuels. “We’re pleased to partner with ADDX as we modernize our capital structure and engage new investor channels. Our investors’ strong support allows us to pursue strategic growth initiatives and positions us to deliver stronger shareholder returns over time.”
“The enthusiastic response from investors underscores Uni-Fuels’ credibility and clear strategic direction,” said Inmoo Hwang, Group Managing Director of ADDX. “We are pleased to support companies that take a disciplined approach to growth and capital access. We look forward to deepening our partnership as Uni-Fuels continues to broaden its reach to accredited investors through alternative capital markets.”
This issuance marks a strategic milestone in Uni-Fuels’ capital markets roadmap as it continues to leverage innovative infrastructure to support liquidity, working capital, and operational flexibility.
Gulf Oil and Gas
oil-gas
21 July 20252 min readUni-Fuels Completes First Oversubscribed Usd 3M Commercial Paper Issuance On Addx
Gulf Oil and Gas
21 July 2025
oil-gas
Aramco Secures $10 Billion Blackrock-Led Investment For Jafurah Gas Pipeline NetworkA BlackRock-led consortium is set to inject $10 billion into the vital pipeline infrastructure of Saudi Aramco's Jafurah gas project. This significant financial commitment highlights the central role of pipelines in expanding Saudi Arabia's natural gas production and its strategic shift towards a more diversified energy mix.
The investment is anticipated to mirror prior infrastructure deals from 2021, where BlackRock also participated in Aramco's gas pipeline assets. In those previous arrangements, investors acquired a 49% stake in new entities, such as Aramco Gas Pipelines Co., which then held 20-year leasing rights over existing pipeline networks. These entities lease the usage rights back to Aramco, ensuring a steady revenue stream for investors through tariffs on gas flows, underpinned by minimum volume guarantees. Aramco, however, maintains a controlling 51% stake and full operational command of these crucial assets.
The Jafurah project itself is a cornerstone of Aramco's plan to boost its gas production capacity by 60% from 2021 levels by 2030, representing a total investment projected to surpass $100 billion over the next 15 years. Crucially, this expansion necessitates the construction of extensive new infrastructure, including an estimated 1,500 kilometers (932 miles) of new pipelines, along with gas processing plants and other facilities. These pipelines are indispensable for transporting gas from the Jafurah field, which is expected to become one of the world's largest shale gas projects outside the United States.
This strong focus on natural gas infrastructure, particularly pipelines, underscores its perceived role as a "bridge fuel" in the global energy transition. By enabling increased natural gas utilization, Saudi Arabia aims to displace more carbon-intensive energy sources, thus contributing to its net-zero emission targets. The substantial investment from the BlackRock-led group signals confidence in the long-term stability and strategic importance of these pipeline assets within the evolving global energy landscape.
Pipeline Technology Journal
oil-gas
18 July 20252 min readAramco Secures $10 Billion Blackrock-Led Investment For Jafurah Gas Pipeline Network
Pipeline Technology Journal
18 July 2025
oil-gas