-The recent global oil price plunge could endanger LNG export projects in the U.S., Reuters reports. LNG exporters outside the U.S. link supply contracts to global oil prices, which have fallen 26% since June. The discount of U.S. LNG to oil-linked rival supply was once approximately $.190 per million Btus, but that could be as low as 90 cents now. The lack of a discount for U.S. LNG makes suppliers in nations such as Qatar and Australia more attractive to Asian buyers. U.S. LNG projects dependent upon buyers in Asia could be put on hold unless their supplies can be sold in Europe instead.
-Meanwhile, Freeport LNG has kicked off a $30 million project to widen the Port Freeport ship channel from 400 feet to 600 feet. Via FuelFix, the project was part of a plan devised eight years ago when the facility was conceived as an import terminal. Freeport LNG — now being proposed as an LNG export facility — on Friday received authorization from federal regulators to begin building liquefaction and pretreatment plants at its planned site on Quintana Island.
-Crestwood Midstream Partners closed a successful non-binding open season on its proposed MARC II pipeline in the Marcellus shale. The 30-mile pipeline would provide access for gas received from the Stagecoach storage facility, major gathering systems owned by Southwestern Energy and Access Midstream Partners and the Millennium and Tennessee Gas Pipeline natural gas systems. Crestwood will conduct a binding open season for the MARC II pipeline early next month.
-Chevron announced the $20 million Appalachia Partnership Initiative, a program designed to improve STEM education and address workforce development needs in Pennsylvania, West Virginia and Ohio. The initiative will establish new programs and expand existing regional education and technical training partnerships.
-Independent E&P firm Noble Energy’s board of directors elected President and COO Dave Stover CEO. Stover replaces Charles D. Davidson, who will retire next May. Noble also appointed Susan Cunningham and Gary Willingham to senior management roles in the company’s exploration and production divisions, respectively.
