Storage

U.S. Natural Gas Prices Steady Ahead of Federal Storage Report

U.S. natural gas futures were little changed on Thursday as the market waited for direction from a federal report expected to show a much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low.

Snam Enters Exclusive Talks to Acquire Edison's Gas Storage Assets in Italy

Energy group Edison said on Monday it started exclusive talks with gas grid operator Snam over the sale of its natural gas storage assets in Italy.

Germany Plans to Expand Carbon Capture and Storage, Including Sub-Seabed Transport

Germany will change its carbon dioxide storage law to allow carbon capture and off-shore storage for certain industrial sectors as Europe's biggest economy aims to become carbon neutral by 2045, Economy Minister Robert Habeck said on Monday.

EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline

EIG's MidOcean Energy secures 20% stake in Peru LNG, which includes a natural gas liquefaction plant, a 254-mile pipeline, storage tanks, a marine terminal, and a truck loading facility.

AG&P LNG Plans 6 South and Southeast Asian Terminals in Next 2 Years

Atlantic Gulf & Pacific Company (AG&P) LNG aims to make a final investment decision (FID) and start developing six liquefied natural gas terminals in South and Southeast Asia within the next one-to-two years, the company's chief executive said.

MPLX Exceeds Q4 2023 Expectations with Surge in Pipeline Volumes

Midstream energy company MPLX on Tuesday reported higher fourth-quarter earnings, beating expectations, as its pipelines transported an increased volume of energy products.

Enterprise Products Partners to Receive Sea Port Oil Terminal License in Q1 2024

Enterprise Products Partners expects to receive an export license for its Sea Port Oil Terminal (SPOT) in the first quarter of 2024 versus by the end of 2023, as previously expected, a company executive said on Monday.

Sunoco to Acquire NuStar Energy in $7.3 Billion Deal for Midstream Expansion

The deal, which has been approved by both the boards, will give Sunoco access to NuStar's transportation and storage facilities, including a portfolio of about 9,500 miles of pipeline and 63 terminals.

German Gas Storage Operators Warn of Overblown Plans for Hydrogen Grids

Germany's future hydrogen demand could fall well short of the baseline the country is assuming in its plans to extend its gas network to carry the fuel, a study commissioned by a storage operators' group showed on Thursday.

Summit Carbon Solutions Secures 80% Right-of-Way in North Dakota for Carbon Capture Project

Summit Carbon Solutions has acquired 80% of the Right-of-Way (ROW) needed for its proposed carbon capture, transport, and storage project across North Dakota.

U.S. Energy Acquires Two Refined Product Terminals in Illinois

(P&GJ) — With the addition of these facilities, U.S. Energy now owns and operates 37 terminals across nine states with a collective storage capacity of over eight million barrels.

Crude Stocks at Top U.S. Storage Hub Rebuild After Nearing Tank Bottoms

Oil inventories at the top U.S. storage hub rebounded last month after nearing operational lows, thanks to improved pricing at the hub that pulled in barrels from Texas' Permian basin and higher Canadian crude flows, analysts said.

Exolum to Acquire 50% Stake in Houston Ammonia, NGL Storage Terminal from Moda Midstream

Exolum has agreed to acquire a 50% interest in Vopak Moda Houston LLC, an ammonia storage, import and export terminal located on the Houston Ship Channel, from Moda Midstream LLC.

Sources: Four Suitors Offer More Than $648 Million for Edison’s Gas Storage Assets

Edison's gas storage assets have attracted offers from four Italian and international suitors, setting the stage for a transaction that could be worth more than 600 million euros ($648 million), two sources familiar with the matter said.

EIA: Continental U.S. Kicks Off Winter with Most Natural Gas in Storage Since 2020

The continental United States entered the winter heating season with the most natural gas in storage since 2020, the U.S. Energy Information Administration (EIA) said on Thursday.

Shell Shortlists CNOOC and Vitol for Singapore Assets Sale

Shell has shortlisted at least four companies including state-run China National Offshore Oil Corp. (CNOOC) and top global energy trader Vitol as bidders for its Singapore refinery assets, sources with knowledge of the matter said.

Centrica Pumps Gas from Rough Storage into U.K. Grid as Demand Rises

British Gas owner Centrica has released stored gas from its largest storage facility into the national grid for the first time this winter, it said on Tuesday, seeking to manage rising heating demand and contain prices.

Indonesia Launches First Carbon Storage Project in West Papua

Indonesia's President Joko Widodo on Friday launched construction of a carbon capture, utilization and storage (CCUS) project in West Papua province operated by BP Plc, the country's first carbon storage project.

Japanese Firms, Petronas to Launch CO2 Storage Project by Late 2028

Japanese companies have agreed to develop a carbon capture and storage (CCS) project with Malaysian energy firm Petronas which should start holding its first carbon dioxide (CO2) emissions from end-2028, Japan Petroleum Exploration Co. said on Monday.

Indonesia's Pertamina, Chevron Agree to Share Data to Develop Carbon Storage Facility

Indonesian state oil company Pertamina signed agreements with U.S. oil company Chevron to share data aimed at developing a carbon capture facility in East Kalimantan, Pertamina said in a statement on Tuesday.

Algeria's Sonatrach Plans $1 Billion Project for Natural Carbon Storage

Algeria's state oil and gas firm Sonatrach has plans for a $1 billion project for natural carbon storage through planting 420 million trees over 10 years, Algeria's Ennahar TV reported on Monday, citing Energy Minister Mohamed Arkab as saying.

Ozona Secures 6,000 Acres for Major CO2 Sequestration Expansion in Permian Basin

(P&GJ) — Ozona CCS LLC has reached a definitive agreement with a private landowner to lease 5,722.79 contiguous acres of pore space in Loving County, Texas, for the purpose of drilling multiple commercial carbon dioxide (CO2) sequestration wells in the Permian Basin.

ADNOC Gas Awards $600 Million Carbon Capture Contract to Petrofac

U.K. oil services firm Petrofac said on Tuesday it got a more than $600 million contract from ADNOC Gas for the Habshan carbon capture and storage (CCS) project, as the Abu Dhabi-based company steps up its decarbonization plan.

EIA: Global Oil Stockpiles to Fall After Saudi Output Cut

Global oil inventories were expected to fall in the fourth quarter after Saudi Arabia extended output cuts this month, while U.S. crude production is forecast to rise more than previously thought, the Energy Information Administration said in a monthly report on Tuesday.

Chevron Buys Majority Stake in Utah Hydrogen Storage Project

Chevron has acquired a majority stake in the world's largest proposed storage facility for hydrogen from renewable energy. Last year, the Delta, Utah project received the first U.S. Department of Energy loan for clean energy in nearly a decade, of $504 million.

UAE's ADNOC to Proceed with Habshan Carbon Capture Project

The carbon capture, utilization, and storage (CCUS) project will have the capacity to capture and permanently store 1.5 million metric tons of carbon dioxide a year, ADNOC said in a statement.

Vitol CEO: Bunker Fuel Market to Convert to LNG in Next 10 Years

The global bunker fuel market is expected to convert substantially to LNG over the next 10 years, said Russell Hardy, chief executive of the world's largest independent oil trader, Vitol.

Equitrans Provides Root Analysis for 2022 Gas Leak at Pennsylvania Storage Facility

(P&GJ) — Equitrans Midstream Corp. has submitted information to the Pipeline and Hazardous Materials Safety Administration (PHMSA) regarding the root cause investigation and analysis related to the Rager Mountain Storage facility incident that occurred in November 2022.

Deep Sky, Svante Partner to Study Carbon Storage Feasibility in Southern Quebec, Canada

(P&GJ) — Canadian carbon removal developer, Deep Sky, has joined forces with carbon capture and removal solutions provider Svante Technologies Inc. to evaluate the feasibility of sequestering CO2 in Southern Quebec.

Restart Delayed at Texas Coal Unit Linked to Petra Nova CCS Project

The coal unit had hosted the $1 billion Petra Nova carbon capture and sequestration (CCS) plant, which sent the carbon dioxide gas about 80 miles (130 km) by pipeline, where it was pumped into an aging oilfield to boost output, a technique known as enhanced oil recovery.