El Paso Energy News

Kathleen M. Eisbrenner, a liquefied natural gas (LNG) industry pioneer and Founder and Chairman of the Board of Directors at US based LNG development company NextDecade Corporation, has passed away at the age of 58.Eisbrenner enjoyed a remarkable career, and was widely viewed as one of the foremost female executives in the global LNG industry. She founded NextDecade in 2010 and led the company to its listing on the Nasdaq Stock Market in July 2017. She served jointly as Chairman and Chief Executive Officer until February 2018…

Liquefied Natural Gas Limited today announced that it has significantly expanded its presence in the North American Liquefied NaturalGas (LNG) sector by signing an agreement to acquire 100% of Bear Head LNG Corporation (BHLC)from a subsidiary of Anadarko Petroleum Corporation (Anadarko) for US$11.0 million. A 255-acre site comprising industrial-zoned land (180 acres) and deep-water acreage (75 acres) as well as foundations in place for two 180,000 cubic meter LNG tanks. The land has been cleared, a majority of site works completed and roads constructed. The Project Rights of the previously proposed LNG import terminal, including all assets, rights and obligations associated with the Bear Head project.

The Offshore Technology Conference (OTC) annually attracts a global audience of leading engineers, managers, and scientists to the heart of the oil and gas industry. It was 1969 when OTC made its debut in Houston, a big year for the energy industry: oil was discovered in the North Sea; environmentalists were blocking the Trans-Alaskan pipeline that would bring North Slope oil supplies to the lower 48 states; oil rich countries in the Middle East and North Africa were demanding a bigger share of oil profits; and oil prices were positioned for takeoff. That inaugural event was modest by today’s standards, attracting just 4,200 offshore professionals and 125 exhibitors-less than one-tenth the turnout of recent years. Currently OTC is the offshore industry’s largest annual gathering.

The U.S. Coast Guard and the Maritime Administration will hold a public meeting in New Orleans on October 3, 2003 to receive information relevant to issuance or denial of a federal license for the proposed El Paso Energy Bridge Gulf of Mexico LLC Deepwater Port. Written comments should be submitted by November 17, 2003. The deepwater port would be located in the central area of the Gulf of Mexico, approximately 106 miles south of the Louisiana coastline. Source: Holland & Knight

It was the late 1970s and El Paso Energy ran a liquefied natural gas (LNG) terminal known as Cove Point in the heart of the Chesapeake Bay — midway between the East Coast ports of Baltimore, Md. and Hampton Roads, Va. As the demand for gas waned, the terminal ceased operations after only two years, and it sat dormant for nearly two decades. Today the market for LNG is rising fast, with positive ripple effects being felt across the maritime niche. Two tug companies — McAllister Towing and Moran Towing, were tapped to help bring the terminal back to life, winning the contract to dock some of the world's most expensive ships. Ensuring that the job is done correctly has required a significant investment in boats and training. — By Regina P.

It soon will be easier to import natural gas from fuel tankers, without disruption to shoreline communities and the environment, thanks in part to a new deepwater liquid natural gas (LNG) port approved today by the U.S. Maritime Administration. The LNG port, to be built by El Paso Energy Bridge Gulf of Mexico LLC about 116 miles south of New Orleans in the Gulf of Mexico, is a terminal to process and transfer natural gas received from LNG transport ships to a pipeline system, which will carry the natural gas ashore for distribution to U.S. markets. "This new facility will improve efficiency by eliminating the need for a carrier to come all the way into a shore side port and save money in the process," said U.S. Secretary of Transportation Norman Y. Mineta.

It soon will be easier to import natural gas from fuel tankers, without disruption to shoreline communities and the environment, thanks in part to a new deepwater liquid natural gas (LNG) port approved today by the U.S. Maritime Administration. The LNG port, to be built by El Paso Energy Bridge Gulf of Mexico LLC about 116 miles south of New Orleans in the Gulf of Mexico, is a terminal to process and transfer natural gas received from LNG transport ships to a pipeline system, which will carry the natural gas ashore for distribution to U.S. markets. “This new facility will improve efficiency by eliminating the need for a carrier to come all the way into a shore side port and save money in the process,” said U.S. Secretary of Transportation Norman Y. Mineta.

El Paso Energy Partners, L.P. and Cal Dive International, Inc. announced that they have signed a letter of intent to form a 50-50 venture to construct, install, and own a deepwater production hub platform and associated facilities primarily for Anadarko Petroleum Corporation's Marco Polo field discovery at Green Canyon 608 in the Gulf of Mexico. The companies anticipate that the facilities will be completed and online in 2004. The production hub platform will be installed in 4,300 ft. of water and has been designed to process 100,000 barrels of oil per day and 250 million cubic ft. of natural gas per day. barrels of oil per day and 150 million cubic ft. of gas per day. discoveries.

MODEC International LLC has entered into a letter of intent with El Paso Energy Partners, L.P. for the engineering, procurement and construction of the hull, mooring and production riser system for the world’s deepest tension leg platform (TLP). The TLP is expected to be owned by EPN and Cal Dive International, Inc. and is planned to serve as a production hub at Green Canyon 608 in the Gulf of Mexico initially for Anadarko Petroleum Corporation’s Marco Polo field discovery. The TLP is planned to be installed in 4,300 feet of water and is capable of supporting processing equipment designed to process 100,000 barrels of oil per day and 250 million cubic feet of natural gas per day. The facilities are scheduled to be online in 2004.

Driven by decade-high oil prices, industry leader Baker Hughes Incorporated reported operating profit after tax from continuing operations for the third quarter of 2000, excluding non-operational items, was $70.6 million, up 456% compared with $12.7 million for the third quarter of 1999, and up 72% compared with $41 million for the second quarter of 2000. Net income for the third quarter of 2000 was $66.7 million compared to $13.2 million for the third quarter of 1999. Results for the third quarter of 2000 include the impact of losses, net of tax, totaling $3.9 million related to the company's holdings of Varco International, Inc. stock and the sale of the Norward product line of Baker Atlas. Michael E.

Duramax Marine, a world leader in water-lubricated rubber bearings, recently broke ground on a new facility that will streamline the company's current manufacturing operations. The facility, with approximately 65,000 sq. ft. of factory and office space will consolidate production and administration into one centralized location in Troy Township, Ohio, approximately 40 miles south east of Cleveland. The expected grand opening will be the first quarter of 2001. Watson Coatings Inc. said that Gordon Watson, founder and CEO, retired on Nov. 2, 2000. Gordon founded Watson Coatings in 1987 with his wife Carol, and sons, Tom and Gary. Carol Watson will continue as Office Manager…

Cal Dive International, Inc. announced that it has completed project financing to fund its share of the cost to construct production facilities at the Marco Polo and Gunnison Deepwater fields. Deepwater Gateway LLC, a joint venture owned by El Paso Energy Partners, L.P. and Cal Dive, has secured a $155 million commitment to fund 70 percent of the estimated total cost of the Marco Polo tension leg platform (TLP). As a 50% owner of Deepwater Gateway, CDI will fund the first $33 million of construction cost, at which point the joint venture will draw upon the loan facility. Repayment, which will begin after delivery of the TLP, consists of Cal Dive paying 20 quarterly installments of $2.75 million and a balloon of $22.5 million due in 2008.

There has been a steady stream of bad news recently in the marine press regarding the health of the oil and gas industry in the Gulf of Mexico. Much of this bad "press" is fueled by boat operators who are trying to do a "Rope-a-dope" on their competitors. That is by "talking the industry down" they are trying to convince competition that "better days" may be years out, hoping they may not be ready when the turnaround comes. All indications are that the industry will indeed drill itself out of the current malaise - sooner than later. And the indicators for such a turnaround are right in front of your face if you know where to look. In general, people who follow intensely the oil and gas industry all agree that a significant rebound is on the way.

Zeus Development Corporation announces the organization of a conference, March 12-14, 2003, in Los Angeles, to consider the implications of West Coast terminals for the global LNG industry. "With numerous onshore and offshore terminal proposals under evaluation on the West Coast by ChevronTexaco, Marathon, Shell, Mitsubishi, El Paso and others, the LNG industry will likely drive the golden spike in its circumference of the globe this decade," said Bob Nimocks, president of Zeus Development Corporation. California consumes nearly 50 million metric tons of natural gas annually and is anxious to diversify its energy supply. With an established pipeline grid…