By Tyler Losier, Energy Reporter, Oil & Gas 360 UGI Energy Services completes acquisition of TC Energy subsidiary Columbia Midstream UGI Energy Services LLC, a subsidiary of UGI Corporation (stock ticker: UGI), has completed its previously announced acquisition of the equity interests of Columbia Midstream Group, a subsidiary of TC Energy Corporation (stock ticker: TRP), for approximately $1.275 billion. The
Beginning a transition of the petrochem industry over the next 12 years From McKinsey Location has been the key to success in petrochemicals: playing in emerging markets and accessing cheap feedstock. As the industry shifts, companies will have to work harder on core capabilities and strategy. Below the surface of the record profits petrochemical companies have been reporting over the past
Quantum Energy Partners and Stonecourt Capital LP have announced the formation of PetroLogistics II LLC, with founders David Lumpkins and Nathan Ticatch. PetroLogistics II, headquartered in Houston, Texas, plans to continue the strategy of its predecessor, PetroLogistics Company LLC. The newly formed company will acquire, develop and operate petrochemical manufacturing, processing and logistics assets in North America. Quantum, Stonecourt and
Incentives to draw PetroChem developers was Alberta’s royalty credits Inter Pipeline Ltd. (ticker: IPL) is getting help from the Canadian Government to build a world-scale integrated propane dehydrogenation (PDH) and polypropylene (PP) plant with a price tag of $3.5 billion. The facilities will be collectively referred to as the Heartland Petrochemical Complex, the $3.5 billion superstructure is designed to process
In a $170 million cash transaction, American Midstream Partners (ticker: AMID)—which provides natural gas and oil gathering, processing, and transmission—has agreed to sell its propane business to SHV Energy. The sale includes American Midstream’s service locations, cylinder exchange program, and Alliant Gas utility system. Re-deploying capital American Midstream is undertaking the transaction with the intent of simplifying its business and
Canadian advantage: Ridley Island’s planned 1.2 MMTPA capacity will allow Western Canada’s producers to sell propane to Asia from B.C. with transit time of 10 days vs. 25 days from U.S. Gulf coast AltaGas Ltd. (ticker: ALA) announced a positive Final Investment Decision (FID) this week on its Ridley Island Propane Export Terminal, having received approval from federal regulators, the company
In another little milestone heralding the acceleration of U.S. energy exports, Phillips 66 (NYSE: PSX) said that Friday it loaded its first contracted LPG cargo on the Commander, a very large gas carrier (VLGC) that departed the Freeport, Texas, terminal on Dec. 16. The company said that the Freeport LPG Export Terminal is now fully operational and has the ability to
Electricity Demand for Heating Down 6% Nationwide in 2015 Above-average winter temperatures caused by a strong El Nino pushed total U.S. heating degree days (HDD) to their lowest point in at least the last eight years. Fewer cold days meant less demand for heating fuels like propane and heating oil, which saw demand decrease by 16% and 45%, respectively, while
Range expects annual uplift of $90 million in net cash flow once all three pipelines are online Range Resources (ticker: RRC) has always prided itself on optionality and takeaway capacity, and the commissioning of the Mariner East 1 pipeline is about to add to its portfolio. Mariner East 1 will be fully operational in February 2016, according to an article
Seasonal builds began six weeks early in 2015 U.S. inventories of propane and propylene reached 97.7 million barrels as of September 11, the highest level in the 22 years that the Energy Information Administration (EIA) has collected weekly propane inventory statistics, according to a release from the administration. In the first six months of 2015, U.S. propane and propylene inventories
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