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Calgary-based Pembina Corp. has agreed to buy Kinder Morgan Canada and the U.S. division of the Cochin Pipeline system in a $3.27 billion deal. Pembina will acquire Kinder Morgan Canada in an all-stock deal, valuing the Canadian assets of the pipeline giant at about C$15.02 per share. This represented a premium of 36.8% to stock’s Tuesday close.
India’s state-run midstream giant, GAIL’s Chairman, yesterday, informed about plans of spending Rs 45,000 crores to expand the National Gas Grid and city gas distribution network. The investment will span over the next 5 years. While Rs 32,000 crore would go into pipeline laying, Rs 12,000 crore will be spent on CGD networks for the retailing of CNG to automobiles and PNG to household kitchens.
Russia is considering transferring operational management over oil input points to pipeline monopoly Transneft. Russian Prime Minister and Transneft's Chief Executive had a meeting to discuss about this matter. Transneft has assured that it is working towards improving the quality of contaminated water. In April, the discovery of contaminated crude through the Druzhba left the oil market in shock.
Enbridge-owned Kentucky natural gas line erupted in a ball of flames in rural Kentucky yesterday. A local sheriff said that the explosion killed one person and put numerous houses on fire. The blast was second in the line of explosions that have taken place on Enbridge’s Texas Eastern natural gas pipeline. The pipeline delivers gas and utilities along the route to consumers, including Gulf Coast industrial facilities and LNG export terminals.
Canadian energy infrastructure firm, Kinder Morgan recorded a net profit for the second quarter, climbing on the back of better incomes from natural gas pipelines and fewer impairment charges. The pipeline giant, however, missed Wall Street estimates in the earnings released yesterday. Kinder Morgan’s share traded lower nearly 2% at $20.21 in the after-hours.
The pipeline monopoly of Russia, Transneft slammed Rosneft on Monday. The company rebuked due to the disinterest shown by the oil producer to help resolve a contaminated oil crisis in the Russian Druzhba. On this, Rosneft said, "Instead of not so constructive comments, we'd like to see a clear and public plan of measures". This problem has tainted Russia's credibility as an energy supplier.
Russia’s natural gas giant, Gazprom has said that despite the threat of US sanctions, work at the controversial Nord Stream 2 pipeline will continue since the pipeline is "past the point of no return". The $12-billion Nord Stream 2 will amplify Russian gas shipments to the EU's biggest economy, Germany. The final major hurdle in the way of Nord Stream 2 is obtaining approval from Denmark.
Michigan's Attorney General, yesterday, initiated a lawsuit to shut down twin 66-year-old oil pipelines owned by Enbridge Inc in the Great Lakes area. Democrat Dana Nessel has argued that the pipelines present an "unacceptable risk". The twin pipelines are integral to Enbridge's Line 5, transporting 23 million gallons of crude oil and propane everyday between Superior, Wisconsin, and Sarnia, Ontario.
PKN Orlen-owned Czech oil refiner Unipetrol has halted oil import through the Druzhba pipeline from Russia, citing chloride contamination. The chief of Czech state strategic reserves yesterday tweeted, “Unipetrol has stopped taking oil from the Druzhba pipeline due to detected contamination by chlorides. Further tests of samples are underway”. Czech Industry and Trade Minister was earlier quoted informing about detecting an increased level of contamination in the Druzhba pipeline.
A senior executive of Transneft has informed about its affiliation with Belarus. The Russian pipeline monopoly with the help of Belarus will clean the contaminated Russian oil in the country. The Russian oil shipments are transported through Belarus to Poland and beyond. Further, he also said that if the plan works out successfully, Poland will receive clean oil on June 9-10.
An oil and gas pipeline welding company Pipeline Technique has been bought by a private-equity firm Blue Water Energy (BWE). BWE has bought this Huntly-headquartered company from Dutch business Heerema Marine Contractors (HMC). The exact value of the deal has been kept undisclosed. BWE informed that the management team of Pipeline Technique will be retained.
The industry group of Germany, MWV said that presently they are not facing any shortage of gasoline or diesel due to contaminated crude oil on Russia's Druzhba pipeline. But the company has warned of future challenges if improvements do not occur. Pertaining to the above reason, Russia temporarily stopped the oil flows last month which resulted in the rise in global prices.
Saudi Aramco has raised a concern that its oil infrastructure sites have been targeted and at least one has been attacked by drone strikes. One of Aramco's pumping station on the Red Sea was targeted by drones due to which fire broke out along the pipeline. The energy supermajor has temporarily halted pumping petroleum through the pipeline until the completion of the inspection.
According to the sources, the vessel Israfil Huseynov operated by Saipem in the Caspian Sea met with an accident on Wednesday. An explosion occurred on the vessel which was being used for pipelaying for the framework of the Shah Deniz II project. The count of casualties is 14. The accident was due to the maintenance operations on an item of equipment during pipe-laying activities.
Nord Stream 2, Russian-led gas pipeline might save EU about $8 billion annually which is due to the 13% drop in the costs. “If the pipeline is completed by the end of 2019 and is launched in 2020, European families will get access to natural gas at a lower cost price, and will save eight billion euro annually,” said the Nord Stream 2 AG’s press office.
In an effort to cope up with the objections posed by the US and other European countries, the developers of natural gas pipeline from Russia to Germany have applied for a third alternative route. This route is from the south of Denmark's Baltic Sea island of Bornholm. The Danish Energy Agency has informed that Nord Stream 2 has applied for an alternative route which includes Denmark's exclusive economic zone.
Petrobras has sold its 90% stakes in the gas pipeline to Engie SA and Caisse de Depot et Placement du Quebec for $8.6 billion. These companies survived multiple rounds of bidding for the unit which is known as TAG. Also, this is said to be the biggest-ever single asset sale for the company. TAG operates 4,500 km pipeline network which is spread across 10 states in northern Brazil.
Bulgarian state network operator, Bulgartransgaz yesterday said that a tender for building the natural gas pipeline across Bulgaria was awarded to a consortium led by Saudi’s Arkad Engineering. The consortium, which includes the joint venture between Arkad and ABB, offered to construct the 474-km pipeline by the end of 2020 for $1.24 billion. The offer also included another option of completing the pipeline in 8 months for 1.29 billion euros.