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Trump picks nominee for FERC; Elba Island LNG project ready for service

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Trump picks nominee for FERC; Elba Island LNG project ready for service

Top News

Trump nominates FERC lawyer James Danly to fill one of two open seats

President Donald Trump on Sept. 30 nominated Federal Energy Regulatory Commission General Counsel James Danly to fill one of the two vacant seats at the agency.

NY climate week marked with pledges and new initiatives

A number of nations and corporations during the Sept. 23-27 climate week in New York City announced new emissions and renewable generation targets, banks joined a new sustainability initiative, and fossil fuel companies eyed new options for capturing and sequestering carbon.

Elba Island LNG project ready for service after storm delay, Kinder Morgan says

Kinder Morgan Inc.'s Elba Island LNG export terminal in Georgia is ready to begin commercial service after Hurricane Dorian caused an additional delay in efforts to reach that milestone, the midstream company's subsidiaries told federal regulators on Sept. 30.

Blackjewel requests court approval to sell 6 Ky. coal mines to Black Mountain

Blackjewel LLC is requesting approval from a federal bankruptcy court to sell six Kentucky coal mines and their related permits and assets to Black Mountain Resources LLC.

Quoted

"Let us not be scared of being ambitious, of applying pressure and of constantly reminding ourselves of the truth of the situation," U.N. Secretary-General António Guterres said speaking at an all-day climate action summit held as part of climate week in New York City.

Power

* The California ISO received the all-clear to move ahead with a batch of tariff changes broadening its authority to retain resources for reliability purposes, despite objections from a member of the Federal Energy Regulatory Commission asserting that the new authority is "functionally unchecked."

* The U.S. Energy Information Administration projects that global energy-related carbon dioxide emissions will grow 0.6% per year from 2018 to 2050.

* Vineyard Wind LLC on Sept. 30 submitted a proposal to regulators in Connecticut to build up to 1,200 MW of offshore wind projects in response to that state's solicitation of offshore wind power.

* Utility commissioners from six coal states are urging the Trump administration to complete its assessment of the resilience of the nation's bulk power system amid coal and nuclear plant retirements, Bloomberg News reported.

* Dominion Energy Inc. is seeking approval from Virginia regulators to invest $594 million through 2021 to transform the state's energy grid, including the installation of nearly 1 million smart meters.

* AES Corp. obtained approval from the Vietnamese government to develop a 2.2-GW natural gas-fired power plant. The Son My 2 plant will have a 20-year contract with the government of Vietnam, and is expected to begin commercial operations in 2024.

* Canadian Utilities Ltd. has completed the sale of its Canadian fossil fuel-based electricity generation portfolio in three separate transactions.

Natural gas

* Federal regulators revealed a long-awaited rule that aims to prevent natural gas pipeline accidents by placing new requirements on operators, including regulations to confirm how much pressure can safely flow through their lines.

* NGL Energy Partners LP has completed the $275.5 million sale of TransMontaigne Product Services LLC and its associated assets. The partnership also monetized approximately $15.6 million in derivative assets associated with the business.

* EQT Corp. is seeking to sublease more of its headquarters in Pittsburgh, sparking speculations that it plans to leave the city, the Pittsburgh Business Times reported. However, the company told the publication that there are no immediate plans to move.

* West Delta LNG has asked the U.S. Maritime Administration for permission to build a deepwater port, including a six-train LNG export terminal with total optimal capacity of up to 6.1 million tonnes per annum.

* Tallgrass Energy LP announced a binding open season soliciting shipper commitments for crude oil transportation for near-term expansion on the Pony Express system from origin points in Wyoming to Cushing, Okla.

Oil

* Occidental Petroleum Corp.'s plan to de-lever its balance sheet after completing its $55 billion acquisition of Anadarko Petroleum Corp. is on schedule, the company said Sept. 30.

* Royal Dutch Shell PLC's upstream oil and gas production dipped by as much as 2.7% in the third quarter compared with a year earlier, while its LNG liquefaction increased by at least 10%, the supermajor said in a preliminary disclosure for the quarter ending Sept. 30.

* Saudi Arabian Oil Co. has reached out to Asian state oil producers to possibly invest in its planned initial public offering, Bloomberg News reported, citing people familiar with the matter.

* After signing an agreement to buy a 40% stake in United Oil Company Pte Ltd. for an undisclosed amount, Repsol SA formed a joint venture with United Oil's parent company, United Global Ltd.

* A U.S. appeals court ruled that Crystallex International Corp. can move forward with its case against oil refining firm Citgo Petroleum Corp., according to Reuters.

Coal

* At least one analyst believes that more U.S. metallurgical coal mines are likely to shut down in the coming weeks and months following Murray Energy Corp.'s announcement that it is shutting down its Maple Eagle coal mine West Virginia.

* Research analysts at B. Riley FBR lowered their price target for SunCoke Energy Inc. and downgraded their recommendation from "buy" to "neutral" due in part to uncertainty about the company's future contracts, according to a Sept. 30 research note.

ChartWatch

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* Germany's RWE AG is about to embark on a spending spree to cement its position as one of the largest renewables utilities in the world, leveraging a complex deal to acquire a global wind and solar portfolio while starting on the long road to phasing out its legacy coal-fired fleet.

New from RRA

* With crucial policy decisions looming on equity returns, transmission incentives and pipeline certificate reviews, FERC and industry stakeholders are facing increasing uncertainties as the commission's regulatory calendar turns to the fourth quarter. The policy uncertainties are further compounded by conflict-of-interest issues at the commission involving Richard Glick and Bernard McNamee, two of only three sitting commissioners.

The day ahead

* Early morning futures indicators pointed to a higher opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

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Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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