Natural Gas

Wilson Center forum on Russia and Ukraine energy security

Washington, July 1, 2014, 10:30 am

Wilson Center forum, "Russia, Ukraine and Energy Security." State Department officials David L. Goldwyn, Carlos Pascual among speakers. 

Devon Energy selling some US assets for $2.3B

OKLAHOMA CITY (AP) — Oil and gas exploration company Devon Energy Corp. is selling some U.S. oil and gas properties to Linn Energy LLC for $2.3 billion.

The properties include those in the Rockies, onshore Gulf Coast and Mid-Continent region, Devon said on Monday. The sale is part of a transformation plan the company announced late last year in which it was looking to sell non-core assets. The properties being sold to Linn Energy produced 275 million cubic feet of natural gas equivalent per day, with proved reserves of 1.242 trillion cubic feet of gas equivalent.

New York top court OKs local gas-drilling bans

ALBANY, N.Y. (AP) — New York's top court handed a victory to opponents of hydraulic fracturing for natural gas Monday by affirming the right of municipalities to ban the practice within their borders.

The state Court of Appeals affirmed a midlevel appeals court ruling from last year that said the state oil and gas law doesn't trump the authority of local governments to control land use through zoning.

The two "fracking" cases from two central New York towns have been closely watched by drillers hoping to tap into the state's piece of the Marcellus Shale formation and by environmentalists who fear water and air pollution.

Apache execs big on Egypt despite problems

Source: 
FuelFix

Despite the political turmoil in Egypt in recent years, executives from Apache Corp. remain optimistic about their natural gas operations in the country, FuelFix reports.

Blast kills 5 in ship-breaking yard in India

NEW DELHI (AP) — A blast triggered by a suspected gas leak in a ship being dismantled in western India killed five workers and injured another seven on Saturday, police said.

The explosion occurred in a chemical tank while the workers were dismantling the old vessel at the Alang ship-breaking yard in Gujarat state, said police officer Ramesh Budhrejiya.

The blast was believed to have been caused by a sudden gas leakage which also started a fire, the Press Trust of India quoted police officer K. J. Rathod as saying.

Israeli field may supply gas to Egypt facility

JERUSALEM (AP) — One of the developers of a natural gas field off Israel's Mediterranean coast on Sunday said it has signed a letter of intent to provide gas to a facility in Egypt.

Delek Drilling said it is negotiating a deal to provide seven billion cubic meters of natural gas from the offshore Leviathan gas field to British company BG's plant in Idku, Egypt, through an underwater pipeline annually for 15 years.

An industry official familiar with the deal said it could be valued at about $30 billion — which would be the largest energy deal in Israel's history. He spoke on condition of anonymity because he was not authorized to comment on the deal.

Encana to sell Bighorn assets for about $1.8B

Energy producer Encana has agreed to sell its Bighorn holding in Canada for about $1.8 billion to another Canadian company, the privately held Jupiter Resources.

Encana said Friday the sale includes about 360,000 acres of land in Canada with total net proved reserves of about 1.1 trillion cubic feet equivalent, mostly natural gas. It also includes Encana's working interests in all pipelines, facilities and service arrangements.

Oil

US rig count rose 15 to 1,873

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. rose by 15 this week to 1,873.

The Houston firm said in its weekly report Friday that 1,558 rigs were exploring for oil and 314 for gas. One was listed as miscellaneous. A year ago there were 1,748 active rigs.

Cyprus seen potential new gas conduit for Europe

NICOSIA, Cyprus (AP) — Cyprus' president says other European Union countries recognize the Mediterranean island nation's potential to become a new conduit for natural gas to the continent.

Nicos Anastasiades said after an EU summit in Brussels on Friday that Cyprus can play a key role in the bloc's plans to diversify its energy sources and lessen its heavy reliance on Russian gas.

He said Cyprus' blossoming ties with neighboring Israel, which has discovered offshore gas of its own, can bolster such planning.

India pipeline blast kills 14 people, guts houses

HYDERABAD, India (AP) — A state-owned gas pipeline exploded and burst into flames Friday, killing at least 14 people, destroying homes and forcing the evacuation of neighboring villages in the southern Indian state of Andhra Pradesh, authorities said.

Flames rose more than 80 feet (25 meters) into the air, scorching the tops of coconut and palm trees and sending dense black clouds of smoke into the sky, witnesses said. Villagers ran out of their homes and crowded the streets. Scores of houses and shops were gutted, officials said.

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