-The Federal Energy Regulatory Commission (FERC) on Wednesday gave its environmental seal of approval to Sempra Energy’s Cameron LNG export terminal in Hackberry, La. Cameron LNG is one of the seven U.S. terminals permitted by the Department of Energy (DOE) to export natural gas to non-free-trade-agreement-countries, but it has not yet obtained full approval from FERC.
-Meanwhile, the House Energy and Commerce Committee passed a bill that would require the DOE to approve or deny LNG export permit applications within 90 days. Via FuelFix, Houston Democrat Gene Green negotiated a deal with the bill’s author, Rep. Cory Gardner (R-Colo.), to mandate a 90-day deadline instead of automatic approval, which was in the original draft.
-Royal Dutch Shell boosted its stake in the proposed LNG Canada project from 40% to 50%. Asian firms Mitsubishi and KOGAS each reduced their stakes in the project from 20% to 15%. Via the Financial Post, engineering for the project is set to begin soon, despite a final investment decision being months away.
-Oil and gas M&A activity hit its highest level in more than a decade in the first quarter of 2014, driven primarily by upstream investments and interest from foreign buyers, according to PricewaterhouseCoopers. The downstream sector was relatively slow during that period, with only three deals worth a total of $2 billion. That compares to 27 upstream transactions representing $14.2 billion — 72% of all first quarter deal value.
-Suncor is restarting an oil upgrader in Fort McMurray, Alberta, having completed planned maintenance that began March 11. The company expects the unit to achieve full throughput next week.
