Energy Biz Review: Kinder Morgan’s Pipeline, Shell Crowns TransCanada
TransCanada (NYSE:TRP) has been named by Royal Dutch Shell (NYSE:RDSA) to design, construct, own and operate the proposed Coastal GasLink project, which is an approximately $4 billion pipeline that will carry natural gas from the Montney gas-producing region near Dawson Creek, B.C. to the LNG Canada liquefied natural gas export facility near Kitimat, also in British Columbia. Separately, Shell CEO Peter Voser reports that results of early drilling for shale gas in China are found to be optimistic, and that the company expects shale gas development in that country to be profitable; Shell is utilizing its operational expertise, worldwide experience, and tech in a partnership with public company China National Petroleum.
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Kinder Morgan Partners (NYSE:KMP) announces that it has completed a binding season to reverse its Cochin propane and ethane-propane pipeline so as to move 95,000 barrels per day of condensates from Illinois to terminals in Fort Saskatchewan, Alberta. Additionally, the firm reports that it obtained commitments for at least 10 years on 100,000 barrels per day of capacity during the open season, which began in April.
Shares of Amyris (NASDAQ:AMRS) went straight up Wednesday, on word that its renewable jet fuel obtained from Brazilian sugarcane has successfully passed all the required testing and will be subsequently be used during a demonstration flight on an Azul E195 aircraft. The flight will take place in Brazil on June 19, during the Rio +20 UN Conference on Sustainable Development.
Investing Insights: Gold and Silver Grind Higher.
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