Anadarko Partners with Eni, Petrobras Allowed to Raise Gas Prices: Energy Business Review

On Friday, Anadarko Petroleum Corporation (NYSE:APC) said that it has reached an agreement with Eni (NYSE:E) which sets foundational principles for the coordinated development of the common natural gas reservoirs across both Mozambique’s Offshore Area 1, which is operated by Anadarko, and Offshore Area 4 operated by Eni. The accord should facilitate a work program through which the two operators will perform separate, yet coordinated, offshore development work while jointly planning and constructing common onshore liquefaction facilities in the form of a liquefied natural gas park in the Cabo Delgado Province of northern Mozambique.

Cheniere Energy Partners (AMEX:CQP) reports that its subsidiary, Sabine Pass Liquefaction, and Bechtel Oil, Gas and Chemicals have reached a lump sum turnkey contract for the engineering, procurement and construction of the third and fourth liquefaction trains to be built next to the Sabine Pass LNG terminal in Cameron Parish, Louisiana. The subsidiary will give Bechtel a notice to proceed with construction for the third and fourth liquefaction trains upon arriving at acceptable financing arrangements and a final investment decision. Construction should commence in the first half next year.

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Teck Resources Limited (NYSE:TCK) said Friday that coal sales for the fourth quarter should surpass its prior guidance of 6.2 million tons and production for the first quarter should not to be materially impacted by the damage to Berth 1 at Westshore Terminals.

Brazilian President Dilma Rousseff authorized higher gas prices on Wednesday which will likely push the demand for ethanol produced by sugar, say analysts. In the meantime, Petrobras (NYSE:PBR) will be permitted to hike its prices for gas early next year.

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