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Pipeline Gas Journal
Egypt Signs Lng Supply Deals Worth $8 Billion Through 2026
(Reuters) — Egypt has reached agreements with several energy firms and trading houses to buy between 150-160 cargoes of liquefied natural gas (LNG) to cover power demand from now until the end of 2026, industry sources aware of the matter told Reuters. The gas purchases, costing over $8 billion based on current prices, will add more pressure on government coffers which are already under strain to keep the lights on amid falling gas production and a cost of living crisis. Egypt’s hard currency crunch has delayed payments to international oil firms, curbing exploration and slowing oil and gas output. Agreements have been reached with global energy companies and trading houses including Saudi Aramco, Shell, Vitol, Trafigura, BGN, SOCAR, and PetroChina, the sources said. Between 50-60 cargoes will be used to cover this year's demand. This is on top of 75 cargoes the country has already purchased earlier this year. The rest will be for deliveries through end-2026. The cargoes were priced at a premium of $0.70-$0.75 above the gas price at the Dutch TTF hub, with a nine-month deferred payment. Cairo has the flexibility to defer cargoes and some of the companies have the option to provide Cairo with additional LNG cargoes if needed. Egypt's Ministry of Petroleum and the Egyptian Natural Gas Holding Company (EGAS) did not immediately respond to Reuters' quest for comment. Over the past two years, Egypt has endured rolling blackouts as natural gas supply fell short of demand. Egypt's own gas output in February hit its lowest level in nine years. The world's most populous Arab country returned to being a net importer of gas last year, buying dozens of cargoes and abandoning plans to become a supplier to Europe as its production tumbled. Egypt has bought 1.84 million tons (mt) of LNG this year, data from S&P Global Commodity Insights shows. That's almost 75% of its total for 2024.
oil-gas
Jun 12, 2025
Pipeline Gas Journal
Nextdecade Locks In $9 Billion Epc Deals With Bechtel For Rio Grande Lng Trains
(P&GJ) — NextDecade Corp. has finalized a refreshed construction contract with Bechtel Energy for Train 4 and signed a new engineering, procurement and construction (EPC) agreement for Train 5 at its Rio Grande LNG facility in Brownsville, Texas, the company announced on June 12. The company said Bechtel will construct Train 4 for approximately $4.77 billion and Train 5 for about $4.32 billion. The fixed-price contracts remain valid through September 15, 2025. In addition to EPC costs, NextDecade expects to incur up to $2 billion in additional expenses per train, including owner’s costs, contingencies, financing fees, and interest during construction. The Train 4 project is fully commercialized, and financing efforts are underway. The company said it aims to reach a final investment decision (FID) before the pricing window expires. For Train 5, NextDecade recently secured a 20-year, 2 million tonnes per annum LNG offtake agreement with Japan’s JERA and is in talks to commercialize another 2.5 MTPA. Financing for Train 5 has also begun, and the company is targeting FID within the same timeframe as Train 4. Both trains are part of the broader expansion of the Rio Grande LNG facility, which began construction on its first three trains in 2023.
oil-gas
Jun 12, 2025
Pipeline Gas Journal
Scotland’S Acorn Project Gets $272 Million Boost For North Sea Carbon Storage
(Reuters) — Britain will invest 200 million pounds ($272 million) in the Acorn carbon capture and storage (CCS) project in Scotland, the government said on Thursday, fleshing out details of funding for the technology announced in a spending review on June 11. Britain has a climate target to reach net zero emissions by 2050 and has said CCS will be needed to curb emissions from energy-intensive industrial sectors. Acorn, being developed by Storegga, Shell UK, Harbour Energy and North Sea Midstream Partners, in St Fergus, Scotland, will capture carbon dioxide emissions from industry and store them under the North Sea. "This vital support will enable the critical work needed to reach Final Investment Decision (FID) and marks a major step forward — not only for Acorn, but for the development of Scotland’s CCS infrastructure and the growth of a UK-wide carbon capture and storage industry," Tim Stedman, CEO of Storegga, said in an emailed statement. The government said it would also back the Viking CCS project in the Humber region, in the north of England, without specifying how much it would receive. "This (funding) will support industrial renewal in Scotland and the Humber with thousands of highly skilled jobs at good wages to build Britain’s clean energy future," Britain’s energy minister, Ed Miliband, said in a release from Britain's Department for Energy Security and Net Zero. Once operational, the two projects could capture up to 18 million tonnes of carbon dioxide a year, the government said. The funding is part of 9.4 billion pounds the government pledged to carbon capture technology over the spending review period and the 21.7 billion pounds it said last year would be spent on CCS over 25 years. ($1 = 0.7352 pounds)
oil-gas
Jun 12, 2025
Pipeline Gas Journal
Blm Fast-Tracks Review Of 74-Mile Montana Gas Pipeline Project
(P&GJ) — The Bureau of Land Management (BLM) has launched an environmental review of a proposed 74-mile natural gas pipeline that would run from Helena to Three Forks, Montana. The project is being reviewed under an accelerated 14-day process in response to the national energy emergency declared by President Donald J. Trump. If approved, the pipeline would be developed by NorthWestern Energy to expand natural gas capacity in western Montana and strengthen regional energy infrastructure. The proposed 16-inch buried pipeline would be built in phases from spring 2026 through fall 2029. The route would cross approximately seven miles of BLM-managed public lands and follow an existing utility corridor to limit new ground disturbance and reduce ecological impacts. BLM officials say the agency plays a key role in managing access to critical minerals and traditional energy resources on federal lands, supporting both national energy security and industrial operations. Additional details can be found on the BLM National NEPA Register.
oil-gas
Jun 12, 2025
Pipeline Gas Journal
Court Ruling Allows Mvp’S $500 Million Southgate Pipeline Extension To Proceed
A U.S. federal appeals court has rejected a legal bid to block the Southgate Extension, a proposed 31-mile addition to the Mountain Valley Pipeline (MVP) that would expand the natural gas network from Virginia into North Carolina, according to WV Public Broadcasting. The D.C. Circuit Court of Appeals issued a ruling June 6 denying a petition brought by environmental and community groups seeking to overturn a three-year extension of the project’s federal authorization. The extension was granted in 2023 by the Federal Energy Regulatory Commission (FERC), allowing the MVP Southgate project to move forward after years of delays. The court’s decision marks the latest chapter in the long-running saga of the Mountain Valley Pipeline — a 303-mile natural gas line stretching from West Virginia to southern Virginia. Although the mainline was completed last year after years of regulatory and legal hurdles, the Southgate segment remains under development and is projected to cost up to $500 million. That’s in addition to the $10 billion already spent on the original project. EQT Corporation, the largest natural gas producer in the Appalachian region, acquired MVP in 2023. EQT CEO Toby Rice has since indicated that more infrastructure will be needed to support rising regional energy demand driven by data center growth and electricity needs. Environmental groups have long opposed the Southgate expansion. Peter Anderson, director of state energy policy at Appalachian Voices — one of the organizations behind the court challenge — criticized the ruling, citing continued concerns over potential harm to land, waterways, and communities along the pipeline route, WV Public Broadcasting reported.
oil-gas
Jun 11, 2025
Pipeline Gas Journal
Developers Plan 18.7 Gw In Gas Power Additions By 2028, Eia Says
(Reuters) — Developers plan to add 18.7 gigawatts (GW) of combined-cycle capacity to the U.S. power grid by 2028, following minimal additions in the previous year, the Energy Information Administration said on June 11. About 4.3 GW is already under construction, according to the EIA. Most of the country's existing natural gas-fired capacity comes from combined-cycle gas turbines (CCGTs), which are flexible and efficient power generators. Additions of 1.6 GW of CCGT are planned for 2025, the EIA said, a sharp increase from the 98 MW added in 2024 at Louisiana's Plaquemines plant. The slowdown in recent CCGT projects was partly due to a growing shift toward renewables such as solar and wind, driven in part by lower construction costs and federal incentives. More than half of the 3.3 GW expected in 2026 is already under construction, while most of the additions planned for 2027 are not yet under construction. An additional 10.6 GW could be added in 2028, potentially marking the largest annual increase in CCGT capacity since 2018, the EIA said. However, these projects need to move through regulatory processes and secure equipment, making their completion timelines uncertain.
oil-gas
Jun 11, 2025
Pipeline Gas Journal
Trigon To Build $750 Million Lpg Export Terminal In Canada’S Prince Rupert
(P&GJ) — Trigon Pacific Terminals has announced a final investment decision (FID) on a $750 million open-access liquefied petroleum gas (LPG) export facility in Prince Rupert, British Columbia. The terminal will have a capacity of 2.5 million metric tons per year and is expected to begin operations by late 2029, pending regulatory approval. The new terminal aims to ease export bottlenecks for Canadian energy producers and increase access to markets in Asia. Trigon says critical infrastructure — including rail access and berth loading facilities — is already in place, helping streamline construction. “This FID is a pivotal moment for Trigon and for Canada’s energy sector, creating new pathways for Canadian LPG to reach international markets, and driving economic growth, resiliency and opportunity for Canadians,” said Rob Booker, CEO of Trigon. “We’ve come to the table with investment dollars and now we need the federal government to expedite this shovel-ready project that is clearly in the national interest.” The project has support from the Lax Kw’alaams and Metlakatla First Nations, both equity partners in Trigon. Their leaders emphasized the importance of Indigenous participation in long-term development efforts. “This is about bringing long-term benefits to our people, our land, and future generations,” said Garry Reece, Chief Councillor of the Lax Kw’alaams Band. “It reflects what’s possible when communities and Nations are true partners.” Support has also come from Alberta’s government. “This is great news for Canada and Alberta,” said Brian Jean, Alberta Minister of Energy and Minerals. “This new Indigenous-backed facility will play a major role in the long-term success of these partnerships and in promoting Indigenous economic reconciliation.” The facility aligns with federal criteria for projects of national interest and aims to meet increasing demand from international markets. Trigon reports strong interest from buyers in Japan, South Korea, and India. “Japan has been increasing LPG import from Canada, achieving stable import volume of two million tonnes in 2024. We welcome the expansion of competitive LPG exports from Canada,” said Jumpei Yamamoto, Executive Officer of Astomos Energy Corporation. Trigon plans to continue consultations with Indigenous communities and the broader public as development proceeds. Long-lead procurement and integration planning are underway. Trigon Pacific Terminals is a privately owned bulk export terminal at the Port of Prince Rupert, with equity held by the Lax Kw’alaams and Metlakatla First Nations. The terminal connects Western Canadian producers with Asia-Pacific customers through energy and commodity trade.
oil-gas
Jun 11, 2025
Pipeline Gas Journal
Nigeria'S $5 Billion Oil-Backed Loan From Aramco Delayed By Oil Price Drop, Sources Say
(Reuters) — Nigeria and Saudi Arabian oil company Aramco are struggling to reach an agreement on a record $5 billion oil-backed loan after a recent decline in crude prices sparked concern among banks that were expected to back the deal, four sources told Reuters. The facility would be Nigeria's largest oil-backed loan to date and Saudi Arabia's first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, the sources said. Nigeria's President Bola Tinubu, two of the sources said, first broached the loan in November when he met with Saudi Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit. Details and progress on the loan talks have not been previously reported. The slow progress in discussions reflects the strain of the recent oil price drop, caused largely by a shift in OPEC+ policy to regain market share rather than curtail supply. Brent has fallen about 20% to around $65 per barrel from above $82 in January. A lower oil price means Nigeria could need more barrels to back the loan, but years of under-investment are complicating its ability to meet production goals. Tinubu sought approval for $21.5 billion in foreign borrowing last month to bolster the budget, and the $5 billion oil-backed facility under discussion with Aramco would be part of that, sources said. The banks involved in the talks that are expected to co-fund part of the loan with creditor Aramco have expressed concerns about oil delivery, which has slowed discussions, sources said. Gulf banks and at least one African lender are involved, they added. Reuters could not establish the banks' identities. "It's hard to find anyone to underwrite it," one source said, citing concerns over the availability of the cargoes. Saudi Aramco declined to comment. Nigeria's state-owned oil company NNPC did not comment, and neither did the finance or petroleum ministries. Scarce Oil Nigeria has years of experience taking out - and repaying - oil-backed loans - which the government uses for budget support, shoring up foreign reserves or to revamp state-owned refineries. At $5 billion, the Aramco loan would be backed by at least 100,000 barrels per day of oil, the sources said. However, it would almost double the roughly $7 billion of oil-backed loans taken in the last five years. Nigeria is using at least 300,000 bpd to repay NNPC's other oil-backed loans, though one facility is expected to be paid off this month. The amount of oil going towards repaying existing oil-backed loans is fixed, but when the crude price falls, it takes longer to repay them. Additionally, lower prices mean the NNPC has to funnel more crude oil to joint-venture partners, from international majors like Shell to local producers like Oando or Seplat, for its portion of operation costs. "You have to either find more oil, or find a way to renegotiate those deals," another source said. Nigerian trading firm Oando is expected to manage the offtake of the physical cargoes, the sources said. Oanda did not comment. NNPC is trying to boost output, while Tinubu issued an executive order aimed at cutting production costs, which would free more money from each barrel. Africa's largest oil exporter assumed a price of $75 per barrel in its budget, with production of 2 million bpd. But in April, it pumped just under 1.5 million bpd, according to the May OPEC market report.
oil-gas
Jun 10, 2025
Pipeline Gas Journal
Adnoc Gas Approves $5 Billion For First Phase Of Rich Gas Project
(P&GJ) — ADNOC Gas has made a final investment decision and awarded $5 billion in engineering contracts for the first phase of its Rich Gas Development (RGD) project, the largest capital investment in the company’s history. The phase one contracts include major upgrades to four ADNOC Gas sites — Asab, Buhasa, Habshan, and the offshore Das Island liquefaction facility — with the goal of boosting throughput and efficiency. Two more investment decisions are expected in future phases, covering expansion at Habshan and Ruwais. The RGD project aims to tap new gas reservoirs to support the UAE’s energy self-sufficiency, increase liquid gas exports, and supply feedstock to its petrochemical sector. EPCM contracts were awarded in three tranches. Wood received a $2.8 billion contract for Habshan. A $1.2 billion contract for Das Island and a $1.1 billion contract for Asab and Buhasa were awarded to two consortia: Petrofac and Kent Plc. “The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas’ strategy to deliver +40% EBITDA growth between 2023 and 2029,” said CEO Fatema Al Nuaimi. “This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.” ADNOC Gas said the RGD project will also contribute to In-Country Value (ICV) through the creation of hundreds of new technical positions by 2029.
oil-gas
Jun 10, 2025
Pipeline Gas Journal
Crane To Acquire Sensor Unit From Baker Hughes In $1.15 Billion Deal
(P&GJ) — Crane Company has agreed to acquire Precision Sensors & Instrumentation (PSI) from Baker Hughes for $1.06 billion, including estimated tax benefits worth $90 million. PSI, which provides sensor-based technologies for aerospace, nuclear, and process industries, is expected to generate approximately $390 million in sales and $60 million in adjusted EBITDA in 2025. “PSI is a unique asset with three iconic brands that are highly complementary to both of our segments,” said Max H. Mitchell, Chairman, President and CEO of Crane. In Crane’s Aerospace & Electronics segment, the addition of the Druck brand will enhance pressure sensing capabilities for environmental control systems, hydraulics, and engine monitoring across both single-aisle and widebody aircraft platforms. Druck also adds ground-based test and calibration tools to the company’s portfolio. In the Process Flow Technologies segment, the Reuter-Stokes brand will expand Crane Nuclear’s footprint by adding radiation sensing and detection technology. The Panametrics brand contributes ultrasonic flow meters and precision moisture analyzers used in LNG transport, pipelines, chemical production, and water treatment. Mitchell said the deal aligns with Crane’s long-term strategy and financial targets. “This transaction meets all of Crane Company’s strategic and financial criteria, including a 10% ROIC by year five,” he said. “We expect PSI to deliver long-term sales growth in the 4% to 6% range.” Crane expects to maintain a net debt to adjusted EBITDA ratio of about 1x following the acquisition, leaving room for additional deals. Alex Alcala, Crane’s Executive Vice President and COO, called the acquisition “an important next step in our multi-year, ongoing portfolio evolution.” The deal is subject to regulatory approvals and is expected to close in late 2025 or early 2026. Crane plans to finance the acquisition with a mix of cash on hand and new debt.
oil-gas
Jun 09, 2025
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