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Anglo-Dutch oil major Royal Dutch Shell on Wednesday proposed to buy all the shares of UK-listed Cove Energy, marking the company's first foray into Kenya and Mozambique. Shell is one of the world's largest LNG producers with equity sales volumes of 18.83 million tpy of LNG in 2011.
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Chesapeake Energy said it plans to more than double its oil and liquids production by 2015 as the natural gas giant aims to become one of top five US oil producers. The company plans to produce about 250,000 bpd of oil and natural gas liquids by 2015, up from about 104,000 bpd in the fourth quarter.
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A $15.7 billion energy venture in Papua New Guinea operated by ExxonMobil may know by the end of the year if it has enough gas for an expansion that could vastly improve its profitability. Initial drilling to support a possible expansion of the project has been pushed back until mid-2012.
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Wood Group has secured a contract extension from Shell in the UK to deliver midstream engineering and construction services to the St Fergus and Mossmoran gas plants. The award marks a continuation of the previous contract awarded to Wood Group in 2007, the companies noted.
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Cabot Oil & Gas on Tuesday unveiled a new joint venture with Williams Partners to develop and construct a large diameter pipeline to transport Cabot's Marcellus shale gas production to both the New England and New York markets. The initial in service date is slated for March 2015.
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Russia has fully restored natural gas shipments to Europe, the country's state gas firm said Monday, after it had been unable to meet rising demand in recent weeks due to cold weather across the continent. Europe relies on Russia for over a quarter of its gas needs.
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Poland is still in discussions with the European Union on developing a tax regime that incentivizes shale gas exploration in the eastern European country, said Talisman Energy CEO John Manzoni. Manzoni said initial findings were "not discouraging, just too early to tell" the degree of commerciality.
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Hydraulic fracturing of shale formations to extract natural gas has no direct connection to reports of groundwater contamination, based on evidence reviewed in a new study.
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KBR said Thursday it was awarded a contract to provide construction services for a new 150 million standard cubic feet/day (MMSCFD) gas processing plant in Oklahoma. The name of the client and value of the deal were not disclosed.
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Freeport LNG Expansion and a joint venture of Zachry Industrial and CB&I entered into a front-end engineering and design (FEED) contract for the Freeport liquefaction project near Freeport, Texas. The Zachry/CB&I venture will engineer and design three LNG liquefaction trains of 4.4 million tpy each.
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European political goals to lessen reliance on Russian natural gas won't affect demand, the deputy chief executive of OAO Gazprom told Wednesday's edition of Hungarian business paper Vilaggazdasag. The CEO was discussing European efforts to create new natural gas cross-border interconnectors.
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Favorable margins for US liquefied natural gas (LNG) exports may not be sustainable and could set up long-term risks for infrastructure projects, according to a new report.
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Hyundai Heavy Industries, the world's largest shipbuilder by order value, said Tuesday it has received, along with its affiliate company, a combined $1.1 billion LNG ship order in Europe. The companies said they will deliver five LNG ships by the first half of 2015.
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Process technology licensor GTC Technology reached a global agreement with ConocoPhillips for its selective partial oxidation of sulfur (SPOC) technology for sulfur recovery. GTC says its SPOC technology is the most significant innovation in the “modified Claus” technology space in the last 30 years.
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Air Liquide said on Monday that it started up a new air separation unit (ASU) at its facility in Geismar, La., seeking to increase its supply of nitrogen, oxygen and argon to customers in industries such as refining, natural gas and chemicals.
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France-based Total said 2012 has begun favorably and that it will step up investments over the next three years after reporting a 12.8% increase in fourth-quarter net income on high oil prices and in spite of weak downstream markets and stable output. Total is targeting a 2.5%/yr increase in average output in 2012-2015.
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Halliburton and PETRONAS Carigali have signed an agreement for the evaluation and development of global shale resources, the companies said on Friday. They plan to set up a shale technical center in Kuala Lumpur, Malaysia, which is where the deal was signed.
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Copano Energy says it will extend its wholly-owned 96-mile, 24-inch DK Pipeline in the Eagle Ford Shale play by adding approximately 65 miles of 24-inch pipeline southwest into McMullen County, Texas. The extension is expected to begin service in the first half of 2013 and cost approximately $120 million.
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KBR said its JKC joint venture with JGC Corp. and Chiyoda Corp. has signed the formal contract for engineering, procurement and construction (EPC) activities on the Ichthys LNG project in northern Australia. The Ichthys LNG project is a joint venture between INPEX (76%, the operator) and Total (24%).
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Russian state gas firm OAO Gazprom plans to almost double the capacity of its underground gas storage capacity in Europe by 2015, the company said on Friday. Gazprom has recently been extracting gas from its European storage facilities at maximum levels.
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Qatar said Thursday it has signed a deal to supply South Korea with 2 million metric tpy of liquefied natural gas, or LNG, for 20 years from 2013, the latest in a string of deals struck over the last two months with energy-hungry Asian countries. RasGas already supplies Kogas with 7 million tpy of LNG.
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Linde Engineering Dresden has acquired the Carbo-V technology of insolvent Choren Industries, Freiberg from German insolvency administrator Dr. Bruno M. Kübler. The acquisition of the Carbo-V technology comprises all related patents and trademarks, and the purchase price was undisclosed.
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UK energy firm BG Group is proposing to scale back 80% of its planned US shale gas drilling activity for this year in response to a sharp fall in prices. New extraction techniques that allow producers to unlock previously untouched shale gas fields have led to abundant supply, pushing down prices to a decade low.
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Polish state-controlled oil firm PKN Orlen plans to significantly intensify work on its shale gas concessions in Poland this year and has enough resources to continue exploration without partners. The company also plans to enter gas-fired power generation, it said.
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The total value of US oil and gas mergers and acquisitions (M&A) increased significantly in 2011 due to continued investment in shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry. Average deal size also increased in 2011.