DOT funding available for port infrastructure development
DOT has launched a Notice of Funding Opportunity to apply for $225 million in discretionary grant funding through the Port Infrastructure Development Program.
The Port Infrastructure Development Program supports U.S. ports by improving the safety, efficiency or reliability of goods moving into, out of or within a port. Investments in port infrastructure will be awarded on a competitive basis for projects within or outside of and directly related to operations of coastal seaports, inland river ports and Great Lakes ports.
DOT will evaluate projects using criteria including effects on the movement of goods, leverage of federal funding, net benefits, project readiness and domestic preference. The Further Consolidated Appropriations Act of 2020 made available $225 million for the Port Infrastructure Development Program, with $200 million reserved for grants to coastal seaports and Great Lakes ports. The minimum award size is $1 million, with a federal cost share not to exceed 80 percent.
For more information, visit www.maritime.dot.gov/PIDPgrants or email ports@dot.gov.
Magellan to sell select marine terminals
Magellan Midstream Partners LP recently made an agreement to sell three marine terminals to Buckeye Partners LP for $250 million. The terminals are located in New Haven, Connecticut; Wilmington, Delaware; and Marrero, Louisiana.
"I would like to personally and on behalf of the organization express our gratitude for the contributions of all employees supporting these facilities through the years and during this time of transition," said Michael Mears, CEO of Magellan.
The partnership's board of directors has also authorized the repurchase of up to $750 million of common units through 2022. The timing, price and actual number of common units repurchased will depend on a number of factors, including the partnership's expected expansion capital spending needs, alternative investment opportunities, excess cash available, legal and regulatory requirements, market conditions and the trading price of the common units.
For more information, visit www.magellanlp.com or call (918) 574-7000.
Government of Alberta approves Hardisty DRU, capacity expansion
US Development Group LLC (USD) and Gibson Energy Inc. received all regulatory approvals from the government of Alberta to proceed with the construction of a diluent recovery unit (DRU) near Hardisty in Alberta, Canada. Additionally, USD and Gibson have finalized all required commercial agreements with ConocoPhillips Canada to fully underpin and sanction the construction of the initial phase of the DRU at 50,000 bpd of inlet bitumen blend capacity.
The DRU could be placed in service in the second quarter of 2021. USD and Gibson have held commercial discussions with other potential producer and refiner customers to secure additional long-term take-or-pay agreements in support of future capacity expansions at the DRU.
For more information, visit www.gibsonenergy.com or call (403) 206-4000.
Sempra, Bechtel sign Port Arthur LNG EPC agreement
Sempra Energy and Bechtel's respective subsidiaries, Port Arthur LNG LLC and Bechtel Oil, Gas, and Chemicals Inc., have signed a fixed-price EPC contract for the Port Arthur LNG liquefaction project under development in Port Arthur, Texas.
"Building new export infrastructure in the U.S. is critical to providing overseas markets with cleaner fuel alternatives," said Jeffrey W. Martin, chairman and CEO of Sempra Energy.
As part of the EPC contract, Bechtel Oil, Gas, and Chemicals Inc. will perform the detailed engineering, procurement, construction, commissioning, startup, performance testing and operator training activities for the project. The project is expected to initially include two liquefaction trains, two LNG storage tanks, a marine berth and associated loading facilities, and related infrastructure.
For more information, visit www.sempra.com or call (619) 696-2000.
