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Energy Transfer to Finish Mariner East Expansion in Pennsylvania Despite Opposition
08/20/2021
Energy Transfer LP said on July 21 it plans to finish the final phase of its long-delayed Mariner East 2 NGL pipeline expansion in Pennsylvania in the third quarter despite calls by county commissioners to shut some operating parts of the system. Chester County Commissioners asked the Pennsylvania Public Utility Commission (PUC) to shut the operating Mariner East 1 and a 12-inch (30-cm) “workaround” pipe being used by the Mariner East 2 expansion.
The county commissioners said several sinkholes have developed this year near the Mariner East 2 construction site in West Whiteland Township in southeastern Pennsylvania about 30 miles (48 km) west of Philadelphia.
Energy Transfer’s Sunoco Pipeline unit used an existing 12-inch pipe—the so-called “workaround” pipe—to allow the 20-inch Mariner East 2 to enter service in December 2018 after numerous delays related to sinkholes and drilling fluid spills slowed the project’s construction.Mariner East transports liquids from the Marcellus/Utica shale in western Pennsylvania to customers in the state and elsewhere, including international exports from Energy Transfer’s Marcus Hook complex near Philadelphia.
Sunoco started work on the $2.5 billion Mariner East expansion in February 2017 and planned to finish the 350-mile (563-km) pipeline in third-quarter 2017.
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Rail Permit for New Fortress to Ship LNG Expired, Putting Future Projects at Risk
Uncertainty grows: as New Fortresses permit to ship LNG by rail expires, PHSMA explores temporal pausing of the method to provide more time to study safety-related issues. The news prompts one to wonder whether Fortress will proceed with its Pennsylvanian LNG project, in which it has already sunk about $159 million in development.
US Leads Global Oil and Gas Production, US Drillers Cut Rigs Again and 1.4 Million BBL Decrease
The U.S. has overtaken Saudi Arabia and Russia to become the world's largest oil and gas producer. In 2024, America's oil output has surpassed last year's record by 1.4%, reaching new heights. Even as oil-producing countries in the Middle East cut back, the U.S. continued to ramp up production after a downturn in 2020, establishing itself as a dominant force in the global market. In terms of numbers, U.S. oil production jumped from an average of 2.93 million barrels per day in 2023 to 13.12 million barrels per day in 2024, marking a significant 7.1% increase.
The U.S. has overtaken Saudi Arabia and Russia to become the world's largest oil and gas producer. In 2024, America's oil output has surpassed last year's record by 1.4%, reaching new heights. Even as oil-producing countries in the Middle East cut back, the U.S. continued to ramp up production after a downturn in 2020, establishing itself as a dominant force in the global market. In terms of numbers, U.S. oil production jumped from an average of 2.93 million barrels per day in 2023 to 13.12 million barrels per day in 2024, marking a significant 7.1% increase.
Kinetik Holdings recently announced a series of transactions in the energy sector. They struck a deal to buy Durango Permian infrastructure for $765 million. At the same time, they're selling their 16% share in the Gulf Coast Express Pipeline to ArcLight Capital Partners for $540 million. The total purchase cost includes $510 million in cash paid immediately and an additional $30 million that will be paid later, depending on whether they decide to expand further.
Recently, the Permian has seen significant acquisitions: Exxon Mobil purchased Pioneer Natural Resources for about $60 billion. Diamondback Energy's $26 billion deal to acquire Endeavor Energy Resources is currently on hold due to requests from the U.S. Federal Trade Commission. Occidental’s acquisition of CrownRock for $12 billion in the Midland.