Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Equitrans Midstream Collaborates with US Regulator on MVP Project Contract
10/24/2023![Equitrans-Midstream-Collaborates-with-US-Regulator-on-MVP-Project-Contract](https://images2.rextag.com/public/blog/BLOG_Equitrans Midstream Collaborates with US Regulator on MVP Project Contract.jpg)
The PHMSA mandates Equitrans to clearly detail the progression measures for the Mountain Valley Pipeline completion.
Equitrans Midstream, overseeing the Mountain Valley Pipeline (MVP) in Virginia's Jefferson National Forest, has committed to enhanced safety protocols following a consent order from the Pipeline and Hazardous Materials Safety Administration (PHMSA). As part of the agreement, Equitrans and MVP LLC have vowed to transparently detail the pipeline's progression, aiming to bolster public trust.
“Importantly, the agreement outlines actions that are designed to reassure the public of MVP’s integrity and demonstrates our commitment to safe, responsible construction and in-service operations,”
- Diana Charletta, Equitrans president and COO.
KTA-Tator Inc. will independently monitor MVP's pipeline coating practices and enforce necessary measures during construction. This pact hastens MVP's inspection timelines, emphasizing safety. Equitrans President, Diana Charletta, reiterated that the safety and integrity of MVP remain paramount.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation (Equitrans) stands as a premier North American energy infrastructure company. Its primary operations focus on natural gas transmission, storage, and water services. With assets that span across the Appalachian Basin, the company's vision revolves around leveraging its core strengths to provide safe and reliable energy to its stakeholders.
- Equitrans boasts an extensive portfolio of natural gas transmission and storage assets, including more than 950 miles of transmission pipelines.
- The company's commitment to safety and compliance is reflected in its focus on operating excellence. With a dedicated workforce, Equitrans ensures the secure and efficient delivery of natural gas.
- Equitrans' financial strategy revolves around maintaining a strong balance sheet, supported by robust credit metrics. Their commitment to stakeholders is evident in their focus on delivering sustainable returns through disciplined capital allocation and growth projects.
Mountain Valley Pipeline LLC
Mountain Valley Pipeline (MVP) has been under significant scrutiny due to its environmental implications and the challenges it presents.
MVP, spanning roughly 303 miles, is proposed to transport natural gas from West Virginia to Virginia. This project has faced numerous setbacks. Last year, permits granted by Virginia’s Department of Environmental Quality and the U.S. Forest Service were invalidated by the 4th Circuit. MVP has been gearing up to commence construction, especially focusing on the pipeline's stretch within the national forest.
A federal appeals court mandated a temporary cessation of MVP's construction within a national forest, pending a review requested by environmental groups challenging the Biden administration's endorsement of the pipeline.
The U.S. Court of Appeals for the 4th Circuit, which had previously turned down permits for the project, concurred unanimously to put construction on hold. This decision was influenced by the debt ceiling law's directive to federal bodies to issue the necessary permits for this contentious pipeline.
Reactions to the court's verdict have been varied. While environmentalists and certain community members laud the decision, key political figures like Senate Energy Chair Joe Manchin have expressed their dissent. They argue that the court's move stands in contradiction to the clear directives of the debt ceiling legislation.
Despite the legal battles, the Biden administration has been supportive of the MVP. They believe the pipeline is critical to the U.S. energy security framework.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Occidental, CrownRock Merger Under Regulatory Review: 2024 Update
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/R 228 (Blog)- Occidental, CrownRock Merger Under Regulatory Review_ 2024 Update.png)
CrownRock's 94,000+ net acres acquisition complements Occidental's Midland Basin operations, valued at $12.0 billion. This expansion enhances Occidental's Midland Basin-scale and upgrades its Permian Basin portfolio with ready-to-develop, low-cost assets. The deal is set to add around 170 thousand barrels of oil equivalent per day in 2024, with high-margin, sustainable production.
Talos Energy and Repsol Join Forces in Gulf Exploration JV
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/203Blog_Talos Energy and Repsol joint venture in the Gulf of Mexico.png)
alos Energy and Repsol have formed a partnership, each owning 50-50, to reexamine seismic data in a shared area to identify where to drill in the coming years. Tim Duncan, the CEO of Talos, sees this as a strategic use of land they acquired from EnVen Energy Corp to enhance its value. Talos Energy is putting to use the land they bought from EnVen Energy Corp for $1.1 billion. CEO Tim Duncan talked about this on November 7, explaining that it's a smart move because the government has delayed a big decision on new ocean drilling areas. By teaming up with Repsol, Talos plans to work on the land they already have, about 100,000 acres, so they don't have to wait for new permits.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/297_Blog_Keystone XL Pipeline Controversy and Wildlife Disaster From Trump's Green Light to Biden's Red Light on the 15 Billion Project.jpg)
The pipeline industry in the USA faced and still faces a range of regulatory challenges, including permitting delays, environmental requirements, and public opposition to pipeline projects. In recent years, pipeline projects like the Keystone XL and Dakota Access pipelines had legal and regulatory obstacles that delayed or canceled their construction. Keystone XL Pipeline, proposed by TransCanada in 2008, aimed to transport crude oil from Canada (around Calgary and Edmonton) to refineries on the Gulf Coast (Port Arthur). The project faced opposition from environmental groups and indigenous communities, who argued that it would contribute to climate change and pose a risk to water resources. In 2015, President Obama rejected the project, citing concerns about its environmental impact. However, in 2017, President Trump revived the project, leading to further legal challenges. In June 2021, U.S. President Joe Biden officially canceled the project on his first day in office.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/282_Blog_Renewable Natural Gas How RNG Changes the Industry.jpg)
The renewable natural gas (RNG) industry in the United States is showing promising signs of growth. As of 2019, the U.S. consumed 261 billion cubic feet (BCF) of RNG, primarily utilized by independent power producers, electric utilities, and various commercial and industrial entities. However, this figure represents only a small fraction of its potential. Research indicates that the U.S. could theoretically produce up to 2,200 BCF of RNG through anaerobic digestion alone, which would equate to about 11% of daily national natural gas consumption.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/295_Blog_Renewable Efforts Lag as Global Oil and Gas Demand Continues to Rise.jpg)
Recently, the progress toward an energy transition is hitting a snag. Sales of electric vehicles are decelerating, and the growth in wind and solar power needs to be keeping pace with expectations. To make matters more challenging, electricity prices are climbing when they were expected to fall. Amidst these setbacks, the oil and gas sectors are proving resilient. According to BP's latest energy outlook, not only are these energy mainstays here to stay, but their demand is expected to remain relatively high even after reaching a peak. Interestingly, BP forecasts that oil demand will reach its zenith next year, marking a critical moment in energy consumption trends. This isn't the first time BP has projected a peak in oil demand. Back in 2019, their review anticipated a decline in demand growth, but the prediction fell flat. Instead, oil demand surged to unprecedented levels following the end of the global pandemic lockdowns, defying previous forecasts and underscoring the enduring dominance of traditional energy sources in the global market.