Natural Gas News – December 22, 2017

Natural Gas News – December 22, 2017

A $1.7 Billion Natural Gas Pipeline to Ease the Permian Glut

Oil Price reported: Kinder Morgan Texas Pipeline, DCP Midstream, and an affiliate of Targa Resources Corp announced on Thursday a final investment decision to proceed with the Gulf Coast Express Pipeline Project (GCX Project), designed to transport up to 1.92 billion cubic feet per day (Bcf/d) of natural gas. The GCX Project Mainline portion consists of approximately 82 miles of 36- inch pipeline and 365 miles of 42-inch pipeline originating at the Waha Hub near Coyanosa, TX in the Permian Basin, and terminating near Agua Dulce, TX. Kinder Morgan and its partners decided to proceed with the gas pipeline plan after they had executed definitive joint venture agreements and secured sufficient firm transportation agreements with shippers. Around 85% of the project capacity is subscribed and committed under long-term, binding transportation agreements, and the partners expect that the remaining capacity will be subscribed by early 2018. The pipeline is expected to be in service in Oct 2019, subject to receiving all regulatory approvals. Construction is planned to begin in Q1 2018. For more visit oilprice.com or click http://bit.ly/2DtWXJf

Alaska Oil and Natural Gas Exploration Boom in Question

Platts reported: Congressional Democrats and environmentalists are preparing for a legislative and legal fight against oil and natural gas drilling in Alaska’s Arctic National Wildlife Refuge after Congress this week approved drilling there for the first time in decades. On Tuesday, the House and Senate approved a $1.5 trillion tax reform package that includes a provision requiring the US Interior Department to hold at least two lease sales in the Coastal Plain of ANWR, offering a minimum of 400,000 acres each within 10 years. The House made technical fixes to the legislation Wednesday and President Donald Trump is expected to sign it into law early next month. Environmental groups are expected to sue to block ANWR development, challenging potentially inadequate environmental reviews. For more on this story visit platts.com or click http://bit.ly/2B37Gsl

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