Latest news with #gasprocessing
CTV News
a day ago
- Business
- CTV News
Competition Bureau reaches deal with Canadian Natural Resources over gas processing
A flare stack burns off excess gas at a processing facility near Crossfield, Alta., Tuesday, June 13, 2023. (Jeff McIntosh / The Canadian Press) OTTAWA — The Competition Bureau says Canadian Natural Resources Ltd. has agreed to sell 75 per cent of its interest in its Seiu Lake natural gas processing plant to address competition concerns related to its proposed acquisition of Schlumberger N.V.'s (SLB) interest in the Palliser Block joint venture. Under a consent agreement with the regulator, Canadian Natural will sell a majority interest in the plant to North 40 Resources Inc., an oil and natural gas exploration company operating in the area. Financial terms of the agreement were not immediately available. North 40 will be the operator of the plant, while Canadian Natural will hold a non-operating 25 per cent interest in the facility. The SLB assets being acquired by Canadian Natural include SLB's 87.5 per cent stake in 16 natural gas processing plants in southeastern Alberta. The Competition Bureau had raised concerns the deal would reduce competition for gas processing services in the region. --- This report by The Canadian Press was first published June 20, 2025.
Arabian Business
10-06-2025
- Business
- Arabian Business
ADNOC Gas announces $5bn contracts for Rich Gas development project
ADNOC Gas has awarded $5bn in contracts for the first phase of its Rich Gas Development (RGD) Project. This marks the start of ADNOC Gas' largest-ever capital investment, aimed at expanding its gas processing capacity and supporting the UAE's growing market demands. The RGD project is designed to optimise and increase throughput across several key ADNOC Gas facilities, including: Asab (onshore) Buhasa (onshore) Habshan (onshore) Das Island liquefaction facility (offshore) The first phase will focus on expanding the capacity of existing facilities while also developing new gas reservoirs that will enhance liquid gas exports, support gas self-sufficiency in the UAE, and supply essential feedstock to the country's burgeoning petrochemical industry. $5bn ADNOC Gas investment to drive growth The contracts awarded for the first phase of the RGD project are split into three major tranches: The largest, valued at $2.8bn, has been awarded to Wood for the Habshan facility $1.2bn in contracts for the Das Island liquefaction facility $1.1bn for the Asab and Buhasa facilities have been awarded to two consortia—Petrofac and Kent Plc These contract awards are set to boost ADNOC Gas' operational efficiency, enabling the company to meet increasing market demands with enhanced processing capacity. Fatema Al Nuaimi, CEO of ADNOC Gas, said: 'The FID and contract awards for the first phase of the Rich Gas Development project mark a significant milestone in ADNOC Gas' strategy to deliver +40 per cent EBITDA growth between 2023 and 2029. 'This strategic investment is expected to deliver significant new value for our shareholders and enable continued sustainable growth for the company, our employees, and the UAE.' Unlocking new gas streams to support the UAE's economic growth Phase 1 of the RGD project is set to optimise ADNOC Gas' existing gas assets while unlocking new and valuable gas streams. This will increase the company's capacity to meet the growing demand for gas and its derivatives. The project is also in line with ADNOC Gas' long-term growth strategy, which focuses on positioning the company for sustainable success between 2025 and 2029. The RGD project will not only support the UAE's economic development but will also contribute to the country's energy security and its goal of achieving gas self-sufficiency. In addition, ADNOC Gas is committed to enhancing its In-Country Value (ICV) by creating hundreds of new, field-based technical positions by 2029, further fuelling the UAE's continued economic progress. Looking further ahead, ADNOC Gas plans to take final investment decisions (FIDs) on two additional phases of the RGD project at Habshan and Ruwais. These phases will further expand production capacity to meet the growing global market demands for natural gas and its by-products.
Bloomberg
05-06-2025
- Business
- Bloomberg
European Gas Edges Higher as Norwegian Maintenance Curbs Flows
European natural gas prices rose as flows from top supplier Norway plunged amid a fresh bout of planned maintenance. Benchmark futures gained as much as 1.2% on Thursday as the Kollsnes gas processing plant in Norway began its seasonal works. The Nordic nation accounted for about a third of European Union's imports last year.
News.com.au
01-06-2025
- Business
- News.com.au
Approval of Woodside's North West Shelf gas extension to 2070 slammed by religious leaders
Faith leaders say they are 'deeply troubled' by the Federal Government's decision to approve the extension of the North West Shelf gas processing facility to 2070. On Wednesday, Labor approved a 40-year extension of the country's largest gas plant. While Environment Minister Murray Watt's decision to grant the approval for Woodside's North West Shelf extension in Western Australia's Pilbara has been praised by industry and unions, others have condemned it due to the threat to the Murujuga cultural heritage. President of the Uniting Church in Australia, Rev Charissa Suli told reporters in Perth on Sunday, she is 'profoundly disappointed' about the approval of the North West Shelf gas processing facility. 'As a daughter of the Pacific, I have witnessed first-hand the devastating impacts of climate change on culturally rich but environmentally vulnerable nations in our region,' she said. 'These nations — many of which are home to Uniting Church partners within the Asia-Pacific — contribute the least to global emissions yet suffer the greatest consequences. 'Why then is approval granted to an old, polluting facility to continue emitting vast volumes of climate damaging emissions of a magnitude many times greater than the emissions of all the Pacific nations? This is not loving thy neighbour.' Rev Mitchell Garlett from the Uniting Aboriginal & Islander Christian Congress added he is 'very disappointed' that the decision was made without 'close consultation with the relevant Traditional Owners'. 'The connection we feel to Country is not just a physical thing but a spiritual connection that is deeper than what we see with our eyes,' he said. 'It is heartbreaking that reconciliation is spoken of but our brothers and sisters voices are not being heard, and the land continues to suffer for so-called progress.' Rev Dr Ian Tozer added they are 'deeply concerned' by the threat to First Nations cultural heritage sites, including 60,000-year-old priceless petroglyphs at the World Heritage nominated Murujuga rock art site. 'It is vital that these ancient sites, so precious to Australia's First Peoples and to our history, are not further damaged by industry,' he said. Meanwhile, Woodside has said the approval would support thousands of jobs and supply affordable energy to Western Australia. The project has supplied 6000 petajoules of domestic gas, powering homes and industry in Western Australia with enough energy to power homes in a city the size of Perth for approximately 175 years, the company said.
Yahoo
01-06-2025
- Business
- Yahoo
‘Heartbreaking': Gas extension decision slammed
Faith leaders say they are 'deeply troubled' by the Federal Government's decision to approve the extension of the North West Shelf gas processing facility to 2070. On Wednesday, Labor approved a 40-year extension of the country's largest gas plant. While Environment Minister Murray Watt's decision to grant the approval for Woodside's North West Shelf extension in Western Australia's Pilbara has been praised by industry and unions, others have condemned it due to the threat to the Murujuga cultural heritage. President of the Uniting Church in Australia, Rev Charissa Suli told reporters in Perth on Sunday, she is 'profoundly disappointed' about the approval of the North West Shelf gas processing facility. 'As a daughter of the Pacific, I have witnessed first-hand the devastating impacts of climate change on culturally rich but environmentally vulnerable nations in our region,' she said. 'These nations — many of which are home to Uniting Church partners within the Asia-Pacific — contribute the least to global emissions yet suffer the greatest consequences. 'Why then is approval granted to an old, polluting facility to continue emitting vast volumes of climate damaging emissions of a magnitude many times greater than the emissions of all the Pacific nations? This is not loving thy neighbour.' Rev Mitchell Garlett from the Uniting Aboriginal & Islander Christian Congress added he is 'very disappointed' that the decision was made without 'close consultation with the relevant Traditional Owners'. 'The connection we feel to Country is not just a physical thing but a spiritual connection that is deeper than what we see with our eyes,' he said. 'It is heartbreaking that reconciliation is spoken of but our brothers and sisters voices are not being heard, and the land continues to suffer for so-called progress.' Rev Dr Ian Tozer added they are 'deeply concerned' by the threat to First Nations cultural heritage sites, including 60,000-year-old priceless petroglyphs at the World Heritage nominated Murujuga rock art site. 'It is vital that these ancient sites, so precious to Australia's First Peoples and to our history, are not further damaged by industry,' he said. Meanwhile, Woodside has said the approval would support thousands of jobs and supply affordable energy to Western Australia. The project has supplied 6000 petajoules of domestic gas, powering homes and industry in Western Australia with enough energy to power homes in a city the size of Perth for approximately 175 years, the company said. Environmental groups estimate the project will produce 4.3 billion tons of greenhouse gas emissions over its lifetime.
