Nat Gas News – October 1, 2018
Nat Gas News – October 1, 2018
Shell, Partners Approve $31 Billion Project to Speed Gas to Asia
Bloomberg reported: Royal Dutch Shell Plc and its four partners have agreed to invest in a multibillion-dollar liquefied natural gas project in western Canada — the largest new one of its kind in years that would carve out the fastest route to Asia for North American gas. LNG Canada — comprised of Shell, Malaysia’s Petroliam Nasional Bhd, Mitsubishi Corp., PetroChina Co. and Korea Gas Corp. — is set to announce a final investment decision on the C$40 billion ($31 billion) project as early as Monday, said people with direct knowledge of the plans, who asked not to be identified because the matter isn’t public. The exact timing still hasn’t been decided. PetroChina and Korea Gas announced approvals of their share of the investment on Friday. The others partners declined to comment. The project marks a turning point for Canada and the gas industry. Set to be the nation’s largest infrastructure project ever, LNG Canada augurs a new wave of investments for major gas export projects after a three-year hiatus forced by a global supply glut. For more on this story visit bloomberg.com or click https://bloom.bg/2NVIRcz
North American Trade Deal Keeps Some Investor Protections Seen as Key to Oil, Natural Gas Sector
SP Global reported: A new North American trade deal reached late Sunday will not likely impede energy flows and appears to preserve investor protections seen as critical to US oil and gas investment in Mexico’s liberalized upstream sector. The US and Canada reached a deal late Sunday, about a month after the US and Mexico agreed to new trade rules. The three countries have been locked in negotiations for more than a year over modernizing NAFTA. US President Donald Trump will hold a press conference on the new agreement at 11:00 am Washington time (1500 GMT) Monday. Text of the new deal outlines an investment dispute settlement process only between the US and Mexico. For more on this story visit spglobal.com or click https://bit.ly/2xQLLoV
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