Page 10 - NorthAmOil Week 38 2022

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Martinez renewables project. All required
closing conditions have been met, including
the receipt of the necessary permits and
regulatory approvals.
The partnership, to be called Martinez
Renewables, is structured as a 50/50 joint
venture, with Neste to contribute a total of
$1bn, inclusive of half of the total project
development costs projected at $1.2bn
through the completion of the project. MPC
will continue to manage the completion of
the conversion project and will operate the
Line system, formerly known as Plantation, operations in the second half of 2024. facility once construction is complete. The
for inbound product deliveries. The dual “With significant long-term volume annual feedstock supply requirements are split
connectivity of the terminal to both the commitments from several leading between the joint venture partners, which
Colonial Pipeline and the Products (SE) Pipe Haynesville shale producers, including include specific commitments to supply
Line systems allows customers using the Chesapeake Energy, we are pleased to reach advantaged feedstocks. The annual production
Charlotte truck terminal more optionality a positive FID on our new gathering and output will be shared evenly between the joint
and security of supply. The terminal, which treating project, which, combined with our venture partners, and each partner will have
offers customers throughput capacity of existing capacity on the Midcoast system, will the ability to market its share of the products.
approximately 15,000 bpd, is also undergoing serve to address bottlenecks in the Haynesville The JV, being optimally located to strengthen
further capacity expansion and environmental shale and provide much needed capacity to both partners’ footprint in renewable fuels,
projects, including the addition of a third the growing LNG markets on the Gulf Coast,” will utilise existing processing infrastructure
loading bay and vapour recovery unit along said Frank Tsuru, CEO of Momentum. “Our and diverse inbound and outbound logistics.
with improved truck logistics and customer customers are also excited to be part of the “This transaction reflects MPC’s
experience technology. first of its kind net negative gas gathering commitment to provide low carbon-intensity
COLONIAL PIPELINE TERMINALS, September project.” feedstocks to support California’s Low
21, 2022 Mr. Tsuru added: “Consistent with our Carbon Fuel Standard goals. We expect the
past business practices, Chesapeake Energy’s partnership to improve the overall economics
M6 Midstream announces anchor commitment for NG3 comes with an of the project through the improved
procurement of advantaged feedstock,” said
option to own 35% of the project, creating
final investment decision alignment between Momentum and one of President and Chief Executive Officer Michael
the largest Haynesville shale producers.”
J. Hennigan. “This strategic partnership also
and completes two ETX and Align Midstream, Momentum creates a platform for additional collaboration
With the combined assets of Midcoast
within renewables. We believe there will be
acquisitions to establish is currently servicing volumes in excess of opportunities to leverage the differentiated
2.0 bcf per day across a footprint including
knowledge and capabilities of two industry
a leading presence in the approximately 3,000 miles of gathering leaders as we pursue our shared commitment
pipelines, 1.5 bcf per day of treating capacity,
to the energy evolution and goal of leading in
Haynesville shale 700 mmcf per day of processing capacity, sustainable energy.”
The first phase of the Martinez renewables
200,000 HP of compression and 820 miles of
M6 Midstream (Momentum) today transportation pipelines delivering gas to the project facility is currently targeted to be
announced a final investment decision Gulf Coast markets in southeast Texas and the mechanically complete by year-end 2022.
(FID) on its new natural gas gathering and Carthage and Bethel markets in east Texas. Initial production capacity is expected to be
carbon capture project, New Generation The assets serve a diverse customer base 260mn gallons per year of renewable fuels.
Gas Gathering (NG3), which will gather comprised of producers, utilities, end-users Pretreatment capabilities are expected to come
natural gas produced in the Haynesville and LNG exporters. online in the second half of 2023 and the
Shale for re-delivery to premium Gulf Coast M6 MIDSTREAM, September 22, 2022 facility is expected to be capable of producing
markets, including LNG export. In addition, 730mn gallons per year by the end of 2023.
the company completed the acquisitions MARATHON PETROLEUM, September 21, 2022
of Midcoast Energy’s East Texas business DOWNSTREAM
(Midcoast ETX) from an affiliate of ArcLight
Capital Partners and Align Midstream Marathon Petroleum SERVICES
from Tailwater Capital to establish a leading
presence in the Haynesville shale. announces closing of Schlumberger launches
With the final investment decision, the
natural gas gathering and carbon capture Martinez Renewables JV enterprise data solution
project will have an initial capacity of 1.7
bcf per day and is expandable to 2.2 bcf per with Neste Schlumberger today announced the
day and will also capture and permanently commercial release of the Schlumberger
sequester up to 2.0mn tonnes per annum of Marathon Petroleum today announced the Enterprise Data Solution, which is powered by
CO2. The project is expected to commence closing of its joint venture with Neste for the Microsoft Energy Data Services. Developed

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