Page 11 - NorthAmOil Week 35

NorthAmOil
NEWS IN BRIEF
NorthAmOil
UPSTREAM
Encana closes on sale of
Arkoma Basin natural gas
assets
Encana’s wholly owned subsidiary, New eld Exploration Mid-Continent, today closed on its previously announced sale of its natural gas assets in Oklahoma’s Arkoma Basin. Proceeds from the sale will be used to reduce the company’s debt.
Encana’s Arkoma assets included approximately 140,000 net acres of leasehold and production of approximately 77mn cubic feet equivalent per day (98% natural gas). e Company’s full-year proforma production guidance range of 560,000-600,000 barrels of oil equivalent per day remains unchanged.
CIBC Gri s & Small provided advisory services to Encana for the transaction. Davis, Graham & Stubbs served as Encana’s external legal counsel.
ENCANA, August 27, 2019
MIDSTREAM
Enbridge reaches
agreement with shippers
to place the Line 3
replacement pipeline into
service in Canada
Enbridge today announced that it has reached a commercial agreement with shippers to place the Canadian portion of the Line 3 replacement pipeline into service by the
end of this year. is agreement re ects the
importance of this safety-driven maintenance project to protecting our environment and ensuring the continued safe and reliable operation of the pipeline well into the future.
Enbridge will be ling a tari with the Canada Energy Regulator for a temporary surcharge with a proposed e ective date
of December 1, 2019. is tari will be superseded by the full negotiated Line 3 tari upon completion of the US segment of the pipeline.
ENBRIDGE, August 30, 2019
DOWNSTREAM
North America to drive global LNG liquefaction industry contributing 73% of new-build capacity growth by 2023, says GlobalData
North America is expected to drive capacity growth in the global lique ed natural gas (LNG) liquefaction industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 73%
of global growth by 2023, according to GlobalData, a leading data and analytics company.
e company’s report, ‘Global LNG Liquefaction Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Liquefaction Terminals’, reveals that North America is expected to have a new-build liquefaction capacity of 243 million tonnes per annum (mtpa) by 2023. Announced projects account for most of the new-build
capacity in the region. Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, says: “North America is expected to add 26 new- build LNG liquefaction terminals during the outlook period. Among these, Rio Grande is the largest new-build liquefaction terminal, which is expected to start operations in 2023 with a capacity of 27 mtpa.”
Following North America, GlobalData identi es the Middle East as the second highest region in terms of global LNG liquefaction capacity growth. e region will add a new-build liquefaction capacity of 32 mtpa by 2023. e Qatar LNG terminal in Qatar is the only announced terminal in the Middle East accounting for entire capacity growth by 2023.
e Former Soviet Union stands third with new-build LNG liquefaction capacity of 29 mtpa by 2023. Russia accounts for all the capacity growth in the region with four projects.
GLOBALDATA, August 28, 2019
Sasol Announces Beneficial
Operation of World-scale
Louisiana Ethane Cracker
Sasol today announced our world-scale US Ethane Cracker reached bene cial operation on 27 August 2019. Sasol’s new Cracker, the heart of our Lake Charles Chemicals Project (LCCP), is the third and most signi cant
of the seven LCCP facilities to come online and will provide feedstock to our six new derivative units at our Lake Charles multi- asset site.
“ e Cracker is the cornerstone of Sasol’s transformation into a global chemicals company,” said Sasol joint president and chief executive o cer Stephen Cornell. “It solidi es our presence in the United States and will anchor our operations there for decades to come.”
Sasol’s Lake Charles ethane cracker, which uses Technip Stone & Webster technology,
is one of the largest in the world with a nameplate capacity of 1.54 million tonnes
per year. Approximately 90% of the Cracker’s ethylene output will be further processed
into commodity and high-margin specialty chemicals for markets in which Sasol has a strong position, underpinned by collaborative customer relationships.
e ethylene produced in the facility will be used in six downstream plants on site to produce a range of high-value derivatives including ethylene oxide, mono-ethylene glycol, ethoxylates, low density and linear low density polyethylene, and Ziegler and
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