Page 13 - NorthAmOil Week 11 2023

NorthAmOil PROJECTS & COMPANIES NorthAmOil

Freeport LNG receives restart approval

for final liquefaction train

TEXAS FREEPORT LNG, the US’ second-largest lengthy restart procedure that faced numerous
LNG export terminal, was granted regulatory delays. First estimates had envisioned that the
approval for the restart of liquefaction train 1 export terminal would be back online in Octo-
on March 8. It was the only remaining lique- ber 2022, but repairs and delays knocked back
faction train that had not been restarted yet at the restart of the first liquefaction train until
the 15mn tonnes per year (tpy) LNG facility February.
located on Quintana Island, Texas after trains An investigation determined that the fire
2 and 3 were given restart authorisation several occurred in pipe racks that support the transfer
weeks ago. of LNG from the storage tank area to the facili-
It is now anticipated there will be a gradual ty’s docks. Procedural, operational, safeguarding
ramp-up of output in the coming weeks to get and employee failures combined with employee
the facility close to full three-train production. In fatigue were cited by the report as the causes that
recent weeks, Trains 2 and 3 have returned to full led to the incident. Since the explosion, Freeport
commercial operation and marked production LNG has responded by raising employee num-
levels surpassing 1.5bn cubic feet (42.5mn cubic bers by 30%.
metres) per day. Freeport’s biggest customers such as Japanese
With the facility having been knocked offline LNG importer JERA, Osaka Gas, BP, TotalEn-
following an explosion and subsequent fire in ergies and SK E&S suffered millions of dollars
June 2022, changes in feed gas flows and pro- in losses stemming from the eight-month long
duction rates are expected during the recom- outage.
missioning and restart phase, given the lengthy When operating at full power, Freeport has
outage. the capacity to turn around 2.1 bcf (59.5 mcm)
For Freeport LNG, it marks the end of a of gas into LNG each day.™

NEWS IN BRIEF

Petro-Victory Energy approval of the TSXV.
UPSTREAM is subject to regulatory approval, including
Horizon Petroleum announces $2.7mn private PETRO-VICTORY ENERGY, March 15, 2023

announces termination of placement MIDSTREAM
letter of intent and provides Petro-Victory Energy is pleased to announce EnLink Midstream
that it intends to complete a non-brokered
update private placement offering of 1,249,360 units
of the company at a price of CAD3.00 per unit
Horizon Petroleum announces that the for gross proceeds of up to CAD3.748mn. announces changes to its
proposed transaction for a certain European Each unit will consist of one common board of directors
oil and gas company first announced on share in the capital of the company and
January 12, 2023, has been terminated. The one transferable share purchase warrant EnLink Midstream today announced that
company could not reach final agreeable entitling the holder thereof to acquire one Matthew C. Harris, a founding partner of
terms with the vendor. common share at a price of CAD4.00 per Global Infrastructure Partners (GIP), will
Trading in the Horizon shares on the NEX share exercisable for a period of 12 months be appointed as chairman of its board of
Board has been halted at the request of the following the closing date. directors. Harris previously served on the
company and is expected to resume ?on the The net proceeds from the offering will be Board as a director from July 2018 until
NEX once the resumption review process has used for general working capital. January 2019. Leldon E. Echols will serve as
been completed by the NEX. The closing of the offering is expected lead independent director. The appointment
HORIZON PETROLEUM, March 16, 2023 to occur on or about March 23, 2023, and will be effective as of March 24, 2023.

Week 11 16•March•2023 www. NEWSBASE .com P13