EQM Midstream to boost Appalachia gathering
Pennsylvania-based EQM Midstream Partners will boost its Appalachia natural gas gathering capacity by up to 66pc with its acquisition of Hornet Midstream and a majority interest in Eureka Midstream.
The two gathering systems flow about 1.6 Bcf/d (45mn m³/d) of gas, adding to EQM's existing Appalachia footprint of 2.4 Bcf/d of firm contracted gathering capacity.
EQM, which spun off from top US natural gas producer EQT last year, will pay a total of $1mn to acquire Hornet and secure a 60pc interest in Eureka in an agreement with a fund managed by Morgan Stanley Infrastructure Partners. The payment includes $860mn in cash and about $170mn of assumed debt.
Eureka Midstream is a 190-mile (306km) header pipeline system in Ohio and West Virginia. Hornet Midstream is a 15-mile system in West Virginia that interconnects with Eureka. The assets have interconnections with multiple interstate pipeline systems and provide access to four processing plants as well as EQM's lines. The systems flow about 67pc dry-gas and 33pc rich gas.
The midstream assets will complement EQM's existing gathering and transmission system, allowing it to add to its scale and facilitate new commercial opportunities, the company said.
Independent producer EQT in February 2018 separated its midstream business from its production operations, creating EQM. EQM's system includes about 700 miles of high-pressure gathering lines and 950 miles of interstate transmission pipeline.
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India’s Chhara LNG terminal faces commissioning delay
India’s Chhara LNG terminal faces commissioning delay
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TotalEnergies to fully own Malaysian gas firm SapuraOMV
TotalEnergies to fully own Malaysian gas firm SapuraOMV
Singapore, 23 April (Argus) — TotalEnergies has signed an agreement to acquire Sapura Upstream Assets' 50pc stake in Malaysian private gas producer and operator SapuraOMV, which will take TotalEnergies' total stake to 100pc. The acquisition will cost $530mn, subject to closing adjustments, with closing expected to take place in the second half of this year, said TotalEnergies. This latest deal follows a previous agreement that TotalEnergies signed in January with Austrian firm OMV to acquire its 50pc interest in SapuraOMV. This means TotalEnergies will own 100pc of SapuraOMV once both transactions are completed. "Following the transaction with OMV announced two months ago and this new transaction with Sapura Upstream Assets, TotalEnergies will have full ownership of SapuraOMV and become a significant gas operator in Malaysia," said TotalEnergies' chairman and chief executive officer Patrick Pouyanné. "The SapuraOMV assets are fully in line with our strategy to grow our gas production to meet demand growth, focusing our portfolio on low-cost and low-emission assets," he added. SapuraOMV in 2023 produced 500mn ft³ of gas, which was used to feed the Bintulu LNG plant operated by state-controlled Petronas, as well as 7,000 b/d of condensates. SapuraOMV holds 40pc and 30pc operating interests, respectively, in blocks SK408 and SK310, which are offshore Sarawak, Malaysia. Block SK408's Jerun gas field, which could hold up to 84.9bn m³, is on track to start up in the second half of this year. SapuraOMV also has interests in exploration licences in Malaysia, Australia, New Zealand, and Mexico, where there was a discovery on block 30 last year, with estimated resources of 200mn-300mn bl of oil equivalent. TotalEnergies holds interests in two production sharing contracts in Malaysia. It in June last year signed an agreement with Petronas and Japanese trading firm Mitsui to jointly develop a carbon capture and storage project in Malaysia as well as assess maturing depleted fields and saline aquifers for storage. The firms hope to develop a CO2 merchant storage service to help industrial customers in Asia decarbonise. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Australia’s Tamboran agrees NT gas sales deal
Australia’s Tamboran agrees NT gas sales deal
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Balticconnector gas pipe recommissioned after rupture
Balticconnector gas pipe recommissioned after rupture
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