China's commitment to increase imports of US goods as part of a trade truce with the US could give a $30 billion boost to US liquefied natural gas exports, according to a Height Securities report. Last year, roughly 13% of total US LNG cargoes were sent to China, which was the world's largest buyer of LNG with import volumes of 5.6 billion cubic feet per day.
Ameren Missouri has unveiled plans to build a new 400-megawatt, 175-turbine wind farm in northeastern Missouri dubbed High Prairie Wind Farm, pending regulatory approval. Vice President of Power Operations and Energy Management Ajay Arora says the firm may build several smaller wind farms afterward, and that it plans to invest $1 billion in the energy source by 2020.
The AEG-owned Los Angeles Kings will no longer need to use municipal water systems while preparing for hockey games, thanks to BluEco Liquid Crystalline Turbex technology. The system produces pure water for ice creation and maintenance and helps reduce energy costs for the Staples Center by cleaning the indoor air, according to AEG.
BP has committed to purchasing 2 million metric tons of LNG per year from Venture Global's LNG export facility in Calcasieu Pass, La., under a 20-year supply agreement. The facility, which is expected to start operations in 2022, will export 10 million metric tons of LNG per year at full capacity.
Activist investors Carl Icahn and Corvex Management have joined forces in a campaign to push Permian Basin pure-play Energen to seek a buyer and expressed interest in actually acquiring the company. Icahn says the company's stock is undervalued and could be worth over $100 per share, up from about $70 per share currently.
Appalachia shale producer Rex Energy has filed for Chapter 11 bankruptcy protection after a strategic review and talks with lenders and advisers determined this would be the best course of action. As a result, the company will sell all of its remaining assets, which consisted of 98,000 net acres in the Appalachian Basin as of January.
Minnesota Gov. Mark Dayton has vetoed a bill that would have cleared the path for Enbridge to start construction on its Line 3 crude oil pipeline replacement without approval from the state's Public Utilities Commission. "This bill pre-empts the long-standing PUC process, which has been established in law, and which has been used for years to make those complex and controversial decisions," Dayton said.
The wind industry is poised for strong growth in 2018, mitigating any fears that the Base Erosion Anti-Abuse Tax and other aspects of the tax code overhaul would impede the energy source's progress, argues Norton Rose Fulbright partner Keith Martin. In the first quarter of 2018, the industry arranged a record-breaking 3,500 megawatts worth of power purchase agreements, and has 33,449 MW of projects under construction or in the later stages of development, according to the American Wind Energy Association.
Pattern Development has purchased Clean Line Energy Partners' 1-gigawatt Mesa Canyons wind farm and corresponding transmission line in New Mexico, according to the company. "New Mexico is home to one of the strongest wind resources in the country and Pattern Development is committed to developing and constructing these new projects as excellent additions to our portfolio, expanding our investment in this enchanting state," says President and CEO Mike Garland.
EDP Renewables North America has secured a 15-year power purchase agreement with an undisclosed client for its 50-megawatt Hidalgo 2 project in Texas, says the company. "We are immensely proud to continue signing new PPAs as they contribute towards changing the energy system through the creation of new renewable energy sources," adds CEO Joao Manso Neto.
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