TC Energy has declared force majeure on crude oil deliveries at destinations in Texas on its Marketlink pipeline, citing power outages caused by severe cold weather in the state.
TC Energy, the company behind the Keystone XL oil pipeline, had said it expects to record a large non-cash charge in its first-quarter earnings, but did not provide the size of it.
The all-equity transaction for Enable Midstream, valued at about $7.2 billion including debt, comes weeks after a U.S. appeals court dealt a blow that could shut down the Dakota Access crude pipeline operated by Energy Transfer.
Russian state gas company Gazprom is racing to finish the $11 billion Nord Stream 2 project to bring natural gas to Europe via Germany ahead of the implementation of further U.S. sanctions.
Located near the Waha hub in West Texas, the acquired assets have the capacity, when fully developed, to store approximately 10 Bcf of natural gas and include six underground storage caverns and permits for five additional caverns.
High costs, regulatory hurdles and environmentalist opponents have made it difficult to construct major natural gas pipelines out of Appalachia.
“MVP (Mountain Valley Pipeline) believes that pursuing the individual permit process ... is the most efficient regulatory path to completing the remaining components of the project,” RGC CEO Paul Nester told analysts on a call.
Two federal attorneys, who represent the Army Corps in an ongoing legal battle over the Dakota Access Pipeline, are withdrawing from the case between the Standing Rock Sioux Tribe and the Corps, a court filing says.
The Keystone XL oil pipeline project, announced 12 years ago to move Canadian crude from Alberta to Nebraska, has already been well under construction in Canada.