-Analysts expect continued stability in the natural gas pipeline and midstream industries in 2015 despite the oil price decline and weak natural gas liquids prices. Via Platts, Fitch Ratings analyst Peter Molica pointed out that natural gas has not been under the same price pressure as oil and that gas pipelines operate under long-term contracts, shielding them from price volatility. Molica said midstream companies would continue to grow in 2014, but at a moderate pace compared to this year.
-Meanwhile, more than 500 rigs could be shut down in the coming months amid the oil price plunge.
-The Senate on Tuesday voted to extend tax credits for wind farms, biodiesel and other renewable fuels, but as FuelFix notes, the renewal expires Dec. 31. The extension lasts for one year, but it is retroactive to the January 2014 expiration of the tax credits. Taxpayers will be able to claim the credits on their 2014 tax returns.
-Apache Corp. announced earlier this week it is selling its interests in Kitimat LNG in British Columbia and Wheatstone LNG in Australia to Woodside Petroleum for $2.75 billion. Apache and Chevron became 50/50 joint venture partners in Kitimat LNG in 2013, but Apache later pulled out of the project. Apache has been under pressure from investors to sell off international assets.
-Enterprise Products Partners appointed Craig Murray group senior vice president and general counsel, effective Jan. 5. Murray previously was a senior partner at Vinson & Elkins, where he focused on corporate and energy-related finance. Enterprise also named Harry Paul “Hap” Weitzel senior vice president and deputy general counsel and Vijay D’Cruz vice president, litigation.
