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    Oceaneering wins two contracts totaling over $100 million for work offshore Angola, Guyana

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    Petronas hires Maersk semi-submersible for Suriname exploration

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    Wintershall Dea, partners safely install additional subsea template for offshore Norwegian oil, gas field

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    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

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    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

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    Operational excellence and safety continue to be a key driver in oil and gas sector

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  • Press Releases

    17th International Conference “LUBRICANT MARKET 2023”

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    Saudi Arabia’s NEOM hydrogen mega-project cost soars to $8.5 billion

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    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

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    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

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    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

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Canada’s Veresen acquires 50 percent stake in Ruby pipeline system

Yuvraj_ong by Yuvraj_ong
September 27, 2014
in America, News, Pipelines & Transport
0

Canadian pipeline firm Veresen said it will acquire 50 percent stake in the Ruby pipeline system. The $1.43 billion pipeline system spanning between Wyoming and Oregon is owned by Kinder Morgan affiliate El Paso Pipeline Partners.

Veresen’s Jordan Cove liquefied natural gas (LNG) plant is also in Oregon and Veresen CEO Don Althoff said the pipeline is a great fit for the company as it could support the LNG project.

The Ruby pipeline has a capacity to transport 1.5 billion cubic feet per day of natural gas across 680 miles. After traveling from Opal, Wyoming, the natural gas will then be transferred to Jordan Cove.

Last month, in its second quarter earnings report, Veresen said it generated $63.7 million of distributable cash. The company also noted an important achievement with the Jordan Cove LNG facility, calling the receipt of the Notice of Schedule for the environmental review from the Federal Energy Regulatory Commission “a significant regulatory milestone.”

“We continue to make good progress in advancing our key strategic initiatives, including the re-contracting of the Alliance Pipeline and development of Jordan Cove LNG,” Althoff said in a statement. 

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