Gas trade group backs carbon pricing in US power markets
A U.S. trade group representing large natural gas suppliers came out in favor of a carbon price as a way to reduce carbon emissions in power markets now and enable more drastic cuts in the future. The Natural Gas Supply Association announced the position on Dec. 3, as an increasing number of states are adopting ambitious carbon reduction goals and renewable portfolio standards and as the gas industry strives to show it can remain part of decarbonizing energy markets.
Inter Pipeline to invest bulk of 2020 capital budget on Alberta petchem complex
Inter Pipeline Ltd. reduced its capital expenditure program to C$1.2 billion in 2020 from C$1.46 billion in 2019, with the main focus on investments in the NGL processing business segment. Inter Pipeline expects to invest C$935 million in its Heartland petrochemical complex, covering the mechanical construction of its polypropylene plant and the final construction stages of its propane dehydrogenation facility.
Antero stocks soar on debt, midstream fee reduction announcement
Investors rewarded Antero Resources Corp.'s asset sale announcement and the renegotiation of Antero Midstream Corp.'s gathering fees, boosting both companies' equity even as Appalachian gas prices stayed low. Antero Resources said Dec. 9 that it plans to unload a combination of lease acreage, minerals, producing properties, hedge restructuring or Antero Midstream shares in 2020 that will shore up the independent driller's credit, which was downgraded by S&P Global Ratings to BB from BB+ in August.
Qatar Petroleum enters into 5-year naphtha supply deal with Shell unit
State-owned Qatar Petroleum concluded a five-year naphtha sale agreement with Shell Eastern Trading (Pte) Ltd. unit Shell International Eastern Trading Company, or SIETCO, according to a Dec. 3 news release. Made on behalf of Qatar Petroleum for the Sale of Petroleum Products Company Limited Q.JSC, or QPSPP, the agreement has QPSPP supplying SIETCO with 900,000 tonnes of naphtha and plant condensate per year beginning in April 2020.
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