Natural Gas News – January 5, 2018
Natural Gas News – January 5, 2018
ONEOK Inc. to Build $1.4 Billion Natural Gas Pipeline System
TULSA — ONEOK Inc. on Thursday announced plans to build a $1.4 billion pipeline system to move natural gas liquids from eastern Montana to the Tulsa company’s existing facilities near Bushton, Kansas. The 900-mile Elk Creek Pipeline is expected operational by the end of 2019 and is designed to transport up to 240,000 barrels per day of unfractionated natural gas liquids. The pipeline is projected to cost about $1.2 billion, with related infrastructure costs expected to total about $200 million. The pipeline will be designed with the ability to expanded to 400,000 barrels per day with additional pump facilities. The project is part of ONEOK’s previously announced, broader effort to invest $3 billion to $3.5 billion in capital-growth projects. For more visit newsok.com or click http://bit.ly/2lUHWbA
Appalachia Underground Natural Gas Storage Clears 1st Test
Chem Info reported: NASHVILLE, Tenn. (AP) — Plans for an underground natural gas liquids storage hub pegged as a major job creator for the chemical industry in struggling Appalachia have cleared their first big hurdle. The Appalachia Storage & Trading Hub initiative got approval Wednesday for the first of two application phases for a $1.9 billion U.S. Department of Energy loan, the Appalachia Development Group LLC said in a news release and department spokeswoman Shaylyn Hynes confirmed. Appalachia Development Group, which is heading the project, said it also aims to secure $1.4 billion through other financing. The project has taken eight years to reach this point, and Appalachia Development Group CEO Steve Hedrick said it would take several more years to come to fruition. It’s still unclear how long the second phase of the application will take, and nothing’s guaranteed. Hedrick said the initial approval is still a win for the large-scale project. The American Chemistry Council estimates the facility could attract up to $36 billion in new chemical and plastics industry investment and create 100,000 new area jobs. For more visit chem.info.com or click http://bit.ly/2CIzN5a
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